ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.023%

Price spread now: dYdX against Backpack+0.023%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$168as in the Price arb table

costs, in and out, $10k−$1711.707% of the position

Long on Backpack Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.023%, 7d avg −0.008%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.031% dearer against Backpack than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of −0.008%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ADA_USDC_PERP	0.2455	0.0100	pay 0.0013% / 1h	21m 10s	$101K	$415K	15x
Short	dYdX ADA-USD	0.2456	0	get 0.0000% / 1h	21m 10s	$202K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Backpack. 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 BackpackbpFee dYdXbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$21
Price spread: +0.023% → −0.008%: $3.06
Slippage, 4 orders: −$150.66
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$188.6
Costs to cover: 1.707%
Break-even: never at this rate

Slippage from Backpack: live order book, 63 min ago; dYdX: live order book, 63 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 Backpack live order book, 63 min ago	0.20 bp	8.8 bp −$9	11.3 bp −$113	doesn't fit	doesn't fit
Sell dYdX live order book, 63 min ago	73.35 bp	78.3 bp −$78	144.4 bp −$1,444	154.6 bp −$15.5K	164.3 bp −$82.1K

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-USDshort	0.0000%	1h	0.2456	+0.023%	$202K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2456	+0.041%	$154K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2456	+0.022%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2451	−0.163%	$409K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2456	+0.021%	$6.2M	$11.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2458	+0.106%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2455	−0.016%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.005%	$1.2M	$920K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2456	+0.053%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	+0.030%	$101.8M	$359.8M	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	−0.041%	$71.2M	$101.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2456	+0.041%	$31.8M	$105.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2453	−0.081%	$96.7M	$58.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2455	0.000%	$52.9M	$50.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	+0.004%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	0.000%	$65.8M	$43.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2454	−0.041%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERPlong	+0.0100%	1h	0.2455	long leg	$101K	$415K	15x
Variational Omni ADA	+0.0100%	8h	0.2452	−0.114%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.127%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	−0.122%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2452	−0.122%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	−0.004%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	+0.043%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	+0.002%	$9K	$759K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	+0.020%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	+0.032%	$1.3M	$5.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2455	0.000%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2456	+0.044%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	+0.001%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2453	−0.077%	$4K	$74K	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0198%	1h	0.2456	+0.045%	$479K	$352K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2455	0.000%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2455	+0.004%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.652%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2455	−0.003%	$122K	—	100x	as long as short