BABA

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0161%/8h= −17.7% APRnext payment −$0.20 per $10,000 · paid last 24h −0.057%

Price spread now: QFEX against Phoenix+0.026%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. QFEX is 0.026% dearer against Phoenix than usual: you sell high and buy low (spread +0.026% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix BABA	116.69	0.0205	pay 0.0026% / 1h	35m 30s	$65K	$89K	10x
Short	QFEX BABA-USD	116.72	0.0044	get 0.0005% / 1h	35m 30s	$1.3M	$3.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee QFEXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$33.9
Price spread: +0.026% → 0.000%: $2.57
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$48.32
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; QFEX: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phoenix no order-book sample	—	—	—	—	—
Sell QFEX live order book, 2 min ago	1.71 bp	7.9 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BABA on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BABAUSDT	0.0000%	8h	116.65	−0.038%	$68K	$37K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	116.78	+0.077%	$2.1M	$718K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	116.72	+0.026%	$1.5M	$2.0M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	116.74	+0.043%	$2.3M	$1.9M	20x	as long as short
SunX BABA-USDT	0.0000%	8h	116.75	+0.051%	$887	$3.1M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	116.88	+0.163%	$30K	$19K	20x	as long as short
GRVT BABA_USDT_Perp	+0.0013%	8h	116.71	+0.017%	$2K	$190K	10x	as long as short
Lighter BABA	+0.0032%	1h	116.78	+0.077%	$372K	$72K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	116.71	+0.017%	$434K	$503K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−0.728%	$11K	$26K	12x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BABA	+0.0040%	8h	116.74	+0.040%	$336K	$779K	—	as long as short
Arcus BABA-USD	+0.0040%	1h	116.62	−0.060%	$70K	$140K	10x	as long as short
QFEX BABA-USDshort	+0.0044%	1h	116.72	+0.026%	$1.3M	$3.0M	10x
Vest BABA-USD-PERP	+0.0046%	1h	116.66	−0.026%	—	$19K	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	116.64	−0.043%	$8K	$286K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	116.64	−0.043%	$229K	$427K	10x	as long as short
tradeXYZ xyz:BABA	+0.0055%	1h	116.64	−0.043%	$11.7M	$4.4M	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	116.66	−0.026%	$606K	$382K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	116.70	+0.009%	$2K	$798	10x	as long as short
Extended BABA_24_5-USD	+0.0104%	1h	116.68	−0.011%	$47K	$312K	10x	as long as short
Binance BABAUSDT	+0.0105%	8h	116.71	+0.017%	$15.1M	$32.3M	20x	as long as short
Phoenix BABAlong	+0.0205%	1h	116.69	long leg	$65K	$89K	10x