BABA perps: where to trade Alibaba perpetual futures
11 tracked venues list BABA perps.
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The cheapest place to trade BABA perps right now is trade.xyz (xyz:BABA): 2.27 bps all-in for a $10,000 market buy at the standard taker fee, measured 09:03 UTC on 2026-10-03.
The next two venues are Bybit 3.22 bps and Binance 8.29 bps. 8 of 11 BABA markets gave a measured cost.
BABA perps list on 11 tracked venues: 5 centralized exchanges, 1 Hyperliquid HIP-3 deployment, 5 other decentralized venues. Avantis (BABA/USD) and Ostium (BABA/USD) fill at an oracle price, with no public BABA book to measure.
Maximum BABA leverage runs from 2x on Avantis (BABA/USD) to 100x on MEXC (BABASTOCK_USDT).
Measured BABA cost for a $10,000 buy
- trade.xyz2.27
- Bybit3.22
- Binance8.29
- Extended8.65
- Bitget10.10
- Lighter12.86
- Gate14.55
- Aster51.13
BABA funding and open interest
Funding now runs from -70.5% a year on Bybit to 3.5% on Lighter, across 9 BABA markets. A positive rate means that longs pay shorts.
9 BABA markets report open interest, $45.9 million in total. Binance holds 47% of it ($21.8 million).
Where to trade Alibaba perpetual futures
| Venue | Market | Max leverage | Funding now | Annual rate now | 7-day mean, annual | Open interest | Book cost (bps) | Taker fee | All-in (bps) | Promo rate, eligible accounts |
|---|---|---|---|---|---|---|---|---|---|---|
| trade.xyz | xyz:BABA | 10x | −0.0025% / 1 h | −21.6% | +8.7% | $12.3M | 1.37 | 0.0090% (API, live) | 2.27 | — |
| Bybit | BABAUSDT | 25x | −0.0644% / 8 h | −70.5% | +5.7% | $2.2M | 0.47 | 0.028% (docs, promotion for all accounts) | 3.22 | — |
| Binance | BABAUSDT | 20x | 0.0000% / 8 h | 0.0% | +11.9% | $21.8M | 4.29 | 0.040% (docs, promotion for all accounts) | 8.29 | — |
| Extended | BABA_24_5-USD | 10x | 0.0000% / 1 h | 0.0% | — | $38K | 7.65 | 0.010% (docs) | 8.65 | — |
| Bitget | BABAUSDT | 20x | 0.0000% / 8 h | 0.0% | +12.8% | $2.2M | 4.10 | 0.060% (API) | 10.10 | — |
| Lighter | BABA | 10x | +0.0004% / 1 h | +3.5% | — | $352K | 12.86 | 0.000% (API) | 12.86 | — |
| Gate | BABA_USDT | 50x | −0.0222% / 8 h | −24.3% | +5.2% | $967K | 7.05 | 0.075% (API) | 14.55 | — |
| Aster | BABAUSDT | 20x | 0.0000% / 8 h | 0.0% | 0.0% | $62K | 49.88 | 0.013% (docs) | 51.13 | — |
| MEXC | BABASTOCK_USDT | 100x | 0.0000% / 8 h | 0.0% | +11.8% | $5.9M | 5.16 | Not stated for all accounts | — | 0.000% = 5.16 bps (eligible accounts, source, 2026-09-25) |
| Avantis | BABA/USD | 2x | — | — | — | — | No BABA book | Oracle model | — | — |
| Ostium | BABA/USD | — | — | — | — | — | No BABA book | Oracle model | — | — |
Method: a $10,000 BABA market buy fills against each public BABA book.
The BABA book cost is that fill price against the mid, in bps. The BABA all-in cost adds the standard taker fee that every new account gets.
A BABA promo rate that only eligible accounts get is shown in its own column and is never ranked.
A BABA book price does not prove that the venue accepts BABA orders at that time, so check the BABA hours table.
Annual BABA funding is the rate per hour times 8,760, with no compounding. The BABA markets come from venue APIs read on 2026-09-25.
BABA trading hours and price source by venue
| Venue | Market | Hours | Price source |
|---|---|---|---|
| Aster | BABAUSDT | 24/7, 5% band off-hours | Several, with Pyth |
| Avantis | BABA/USD | 23/5 or 9:30–16:00 ET | Pyth Pro, Chainlink |
| Binance | BABAUSDT | 24/7, book EWMA weekends | Unnamed data vendors |
| Bitget | BABAUSDT | 24/7, book EMA off-hours | Pyth, dxFeed, Massive, Intrinio |
| Bybit | BABAUSDT | 24/7 | Index with Pyth |
| Extended | BABA_24_5-USD | Per market in API | Stork, Blue Ocean ATS |
| Gate | BABA_USDT | Index holds last close | Paid feeds, crypto venues |
| Lighter | BABA | 24/7 | Pyth Pro (NVDA, TSLA) |
| MEXC | BABASTOCK_USDT | Varies, no trades closed | Not named in docs |
| Ostium | BABA/USD | Mon–Fri 9:30–16:00 ET | Own feed, Stork nodes |
| trade.xyz | xyz:BABA | 24/7, bounded off-hours | Relayer, Blue Ocean ATS |
Find your liquidation price with the liquidation price calculator for BABA. Compare all tickers on the stock perps hub. Read how trade.xyz lists BABA on Hyperliquid.
Where to Trade Alibaba (BABA) Perpetual Futures
Fees and leverage limits apply venue-wide; check BABA terms with the venue.
Alibaba (BABA) market overview
Alibaba is China's dominant e-commerce and cloud computing company, operating the Taobao and Tmall marketplaces alongside Alibaba Cloud, which is competing aggressively in AI services. BABA stock perps attract traders positioning on Chinese consumer spending cycles, regulatory environment shifts, and the ongoing restructuring of Alibaba's business units.
Frequently Asked Questions — Alibaba (BABA)
What open interest data is available for BABA?
2 venues report positive BABA open interest in this read.
The BABA total leaves out venues outside the read.
How does an Alibaba perpetual futures contract differ from the underlying asset?
An Alibaba perpetual tracks the Alibaba price, with no expiry date and no ownership of Alibaba.
Check each venue for Alibaba trading hours and the price source.
Category: Stock