Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Aster+0.016%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on Aster Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 3 days (all we have)+0.208%+$21 · spread now +0.016%, 7d avg −0.013%

Together, before fees+0.171%+ Points / potential airdropAster: Stage 5 · farm board+$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.029% dearer against Aster than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ADAUSDT	0.2454	0.0100	pay 0.0100% / 8h	2h 15m	$1.2M	$1.0M	75x
Short	Phemex ADAUSDT	0.2454	0.0100	get 0.0100% / 8h	2h 15m	$47.9M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aster. 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 AsterbpFee PhemexbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.013%: $2.92
Slippage, 4 orders: −$22.88
Fee Aster: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$39.96
Costs to cover: 0.429%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Phemex: live order book, 4 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 Aster live order book, 3 min ago	2.04 bp	14.0 bp −$14	32.4 bp −$324	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.03 bp	8.0 bp −$8	14.7 bp −$147	44.7 bp −$4,469	doesn't fit

ADA on 37 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
dYdX ADA-USD	0.0000%	1h	0.2454	+0.021%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2454	+0.016%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	+0.004%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.016%	$407K	$7.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0076%	1h	0.2455	+0.077%	$477K	$353K	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2456	+0.106%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2455	+0.041%	$42.5M	$14.5M	10x	as long as short
Aster ADAUSDTlong	+0.0100%	8h	0.2454	long leg	$1.2M	$1.0M	75x
Pacifica ADA	+0.0100%	1h	0.2454	+0.027%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	+0.068%	$101.5M	$355.6M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2454	+0.016%	$70.6M	$99.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	+0.057%	$31.9M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2452	−0.065%	$96.8M	$58.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	+0.016%	$52.8M	$56.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	+0.012%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	+0.016%	$65.7M	$42.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2454	+0.016%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2454	+0.012%	$103K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	+0.032%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2459	+0.204%	$66K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.196%	$290K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2458	+0.179%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2454	0.000%	$96K	$623K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	+0.016%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.062%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	+0.057%	$9K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	+0.073%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2455	+0.056%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2454	+0.016%	$47.9M	$5.8M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2455	+0.054%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	+0.044%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2456	+0.090%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	+0.098%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2454	+0.017%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2455	+0.044%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2454	+0.020%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.554%	$838	$131K	12x	as long as short