Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.017%

Price spread now: HTX against QFEX+0.129%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on HTX

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. HTX is 0.129% dearer against QFEX than usual: you sell high and buy low (spread +0.129% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BABA-USD	116.70	0.0044	pay 0.0005% / 1h	46m 27s	$1.3M	$3.0M	10x
Short	HTX BABA-USDT	116.85	0	get 0.0000% / 8h	46m 27s	$30K	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against QFEX. 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 QFEXbpFee HTXbpOrdersPrice spread, now +0.129%Rate

Funding earned: −$9.24
Price spread: +0.129% → 0.000%: $12.85
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$18.39
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 7 min ago; HTX: no order-book sample. 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 QFEX live order book, 7 min ago	2.14 bp	7.7 bp −$8	10.9 bp −$109	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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	116.77	+0.060%	$68K	$36K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	116.71	+0.009%	$2.1M	$716K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	116.73	+0.026%	$1.5M	$2.0M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	116.70	0.000%	$2.3M	$1.9M	20x	as long as short
SunX BABA-USDT	0.0000%	8h	116.69	−0.009%	$879	$3.1M	20x	as long as short
HTX BABA-USDTshort	0.0000%	8h	116.85	+0.129%	$30K	$19K	20x
GRVT BABA_USDT_Perp	+0.0008%	8h	116.76	+0.048%	$3K	$190K	10x	as long as short
Variational Omni BABA	+0.0031%	8h	116.79	+0.075%	$335K	$777K	—	as long as short
Lighter BABA	+0.0032%	1h	116.78	+0.069%	$372K	$72K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	116.70	0.000%	$434K	$503K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−0.737%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	116.64	−0.051%	$70K	$140K	10x	as long as short
QFEX BABA-USDlong	+0.0044%	1h	116.70	long leg	$1.3M	$3.0M	10x
Vest BABA-USD-PERP	+0.0046%	1h	116.61	−0.077%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	116.55	−0.129%	$11.7M	$4.4M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	116.62	−0.069%	$8K	$285K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	116.82	+0.103%	$229K	$427K	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	116.66	−0.034%	$607K	$381K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	116.72	+0.017%	$2K	$798	10x	as long as short
Binance BABAUSDT	+0.0100%	8h	116.73	+0.022%	$15.1M	$32.3M	20x	as long as short
Extended BABA_24_5-USD	+0.0104%	1h	116.70	+0.003%	$43K	$300K	10x	as long as short
Phoenix BABA	+0.0205%	1h	116.72	+0.017%	$65K	$89K	10x	as long as short