Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Gate against Backpack+0.004%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.004%, 7d avg −0.033%

Together, before fees+0.117%+$12 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: Gate is 0.037% dearer against Backpack than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.033%.

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	24m 46s	$101K	$415K	15x
Short	Gate ADA_USDT	0.2455	0.0100	get 0.0100% / 8h	1h 24m	$96.8M	$58.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → −0.033%: $3.74
Slippage, 4 orders: −$15.76
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$37.02
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Backpack: live order book, 59 min ago; Gate: 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 Backpack live order book, 59 min ago	0.20 bp	8.8 bp −$9	11.3 bp −$113	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.04 bp	13.3 bp −$13	17.5 bp −$175	92.2 bp −$9,220	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	0.2455	+0.005%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2456	+0.045%	$154K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.055%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2450	−0.200%	$409K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2455	−0.016%	$6.2M	$11.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2458	+0.130%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2457	+0.065%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.024%	$1.2M	$920K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	−0.191%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	+0.045%	$101.7M	$359.4M	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	0.2456	+0.045%	$71.4M	$101.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2456	+0.045%	$31.8M	$105.8M	50x	as long as short
Gate ADA_USDTshort	+0.0100%	8h	0.2455	+0.004%	$96.8M	$58.7M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2456	+0.045%	$52.8M	$50.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2456	+0.045%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2456	+0.045%	$65.8M	$43.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2456	+0.045%	—	$6.6M	—	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	−0.110%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.085%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.072%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	+0.004%	$55K	$580K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2452	−0.138%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	−0.037%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.003%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	−0.037%	$9K	$759K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2454	−0.020%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	−0.020%	$1.3M	$5.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.037%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2450	−0.196%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2456	+0.026%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2451	−0.175%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2450	−0.200%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2453	−0.074%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.656%	$849	$202K	12x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0361%	1h	0.2455	+0.012%	$479K	$352K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2454	−0.046%	$122K	—	100x	as long as short