Funding you earn now, next payment 04:00 UTC−0.0153%/8h= −16.7% APRnext payment −$0.19 per $10,000 · paid last 24h −0.054%
Price spread now: tradeXYZ against Phoenix−0.177%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.259%−$26 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and tradeXYZ is 0.177% cheaper against Phoenix than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix BABA | 118.38 | 0.0203 | pay 0.0025% / 1h | 4m 30s | $66K | $90K | 10x |
| Short | tradeXYZ xyz:BABA | 118.17 | 0.0050 | get 0.0006% / 1h | 4m 30s | $12.0M | $4.2M | 10x |
Phoenix BABA
tradeXYZ xyz:BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$32.09
- Price spread: −0.177% → 0.000%
- −$17.74
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$74.83
- Costs to cover
- 0.250%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; tradeXYZ: live order book, 3 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 tradeXYZ live order book, 3 min ago | 1.27 bp | 11.1 bp −$11 | 14.8 bp −$148 | 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 | 118.36 | −0.018% | $70K | $35K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 118.31 | −0.059% | $2.1M | $706K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 118.33 | −0.042% | $1.5M | $2.0M | 50x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 118.32 | −0.051% | $1K | $3.4M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 118.36 | −0.017% | $30K | $18K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 118.36 | −0.017% | $377K | $73K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 118.29 | −0.076% | $438K | $508K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −2.146% | $11K | $26K | 12x | as long as short |
| GRVT BABA_USDT_Perp | +0.0036% | 8h | 118.39 | +0.008% | $3K | $193K | 10x | as long as short |
| Arcus BABA-USD | +0.0040% | 1h | 118.31 | −0.059% | $72K | $109K | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
SunX BABA-USDT
HTX BABA-USDT
Lighter BABA
Lighter RH BABA
Injective BABA/USDC PERP
GRVT BABA_USDT_Perp
Arcus BABA-USDShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest BABA-USD-PERP | +0.0046% | 1h | 118.26 | −0.101% | — | $19K | 10x | as long as short |
| tradeXYZ xyz:BABAshort | +0.0050% | 1h | 118.17 | −0.177% | $12.0M | $4.2M | 10x | |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 118.24 | −0.118% | $9K | $266K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 118.26 | −0.101% | $239K | $408K | 10x | as long as short |
| QFEX BABA-USD | +0.0056% | 1h | 118.33 | −0.042% | $1.2M | $3.6M | 10x | as long as short |
| Variational Omni BABA | +0.0078% | 8h | 118.34 | −0.030% | $266K | $658K | — | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 118.21 | −0.144% | $615K | $454K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 118.31 | −0.059% | $2K | $798 | 10x | as long as short |
| Extended BABA_24_5-USD | +0.0152% | 1h | 118.29 | −0.077% | $43K | $356K | 10x | as long as short |
| Binance BABAUSDT | +0.0155% | 8h | 118.31 | −0.059% | $15.7M | $30.7M | 20x | as long as short |
| Phoenix BABAlong | +0.0203% | 1h | 118.38 | long leg | $66K | $90K | 10x | |
| Bitget BABAUSDT | +0.0235% | 8h | 118.32 | −0.051% | $2.4M | $1.7M | 20x | as long as short |
Vest BABA-USD-PERP
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
QFEX BABA-USD
Variational Omni BABA
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Extended BABA_24_5-USD
Binance BABAUSDT
Bitget BABAUSDT