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: SunX against QFEX+0.077%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1441.441% of the position

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now +0.077%, 7d avg +0.017%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.060% dearer against QFEX than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of +0.017%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BABA-USD	116.80	0.0044	pay 0.0005% / 1h	56m 29s	$1.3M	$3.0M	10x
Short	SunX BABA-USDT	116.89	0	get 0.0000% / 8h	56m 29s	$828	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$9.24
Price spread: +0.077% → +0.017%: $6
Slippage, 4 orders: −$126.11
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$147.35
Costs to cover: 1.441%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; SunX: live order book, 11 min ago.

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	1.71 bp	7.0 bp −$7	9.5 bp −$95	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	46.15 bp	64.8 bp −$65	doesn't fit	doesn't fit	doesn't fit

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	116.85	+0.044%	$68K	$36K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	116.77	−0.026%	$2.1M	$731K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	116.82	+0.017%	$1.5M	$2.0M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	116.81	+0.009%	$2.3M	$1.8M	20x	as long as short
SunX BABA-USDTshort	0.0000%	8h	116.89	+0.077%	$828	$3.2M	20x
HTX BABA-USDT	0.0000%	8h	116.96	+0.137%	$30K	$19K	20x	as long as short
GRVT BABA_USDT_Perp	+0.0013%	8h	116.96	+0.137%	$3K	$193K	10x	as long as short
Lighter BABA	+0.0032%	1h	116.92	+0.103%	$372K	$72K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	116.81	+0.009%	$434K	$501K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−0.822%	$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	+0.0037%	8h	116.92	+0.102%	$365K	$747K	—	as long as short
Arcus BABA-USD	+0.0040%	1h	116.81	+0.009%	$71K	$110K	10x	as long as short
QFEX BABA-USDlong	+0.0044%	1h	116.80	long leg	$1.3M	$3.0M	10x
Vest BABA-USD-PERP	+0.0046%	1h	116.79	−0.009%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	116.73	−0.060%	$11.7M	$4.5M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	116.76	−0.034%	$8K	$285K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	116.73	−0.060%	$229K	$427K	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	116.75	−0.043%	$607K	$382K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	116.78	−0.017%	$2K	$798	10x	as long as short
Binance BABAUSDT	+0.0101%	8h	116.83	+0.026%	$15.1M	$32.4M	20x	as long as short
Extended BABA_24_5-USD	+0.0104%	1h	116.80	−0.003%	$44K	$293K	10x	as long as short
Phoenix BABA	+0.0204%	1h	116.93	+0.111%	$65K	$89K	10x	as long as short