ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0013%/8h= +1.5% APRnext payment +$0.02 per $10,000 · paid last 24h +0.009%

Price spread now: Kraken Futures against Backpack−0.008%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 3 days (all we have)+0.184%+$18 · spread now −0.008%, 7d avg +0.010%

Together, before fees+0.303%+$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ADA_USDC_PERP	0.2452	0.0100	pay 0.0013% / 1h	33m 06s	$110K	$415K	15x
Short	Kraken Futures PF_ADAUSD	0.2452	0.0113	get 0.0014% / 1h	33m 06s	$6.2M	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.008%Rate

Funding earned: $2.8
Price spread: −0.008% → +0.010%: −$1.72
Slippage, 4 orders: −$13.79
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$32.71
Costs to cover: 0.338%
Break-even: 88.7 days

Slippage from Backpack: live order book, 46 min ago; Kraken Futures: live order book, 1 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, 46 min ago	0.20 bp	7.4 bp −$7	9.6 bp −$96	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	1.22 bp	12.2 bp −$12	16.4 bp −$164	45.9 bp −$4,592	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	0.2452	−0.031%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2452	−0.016%	$175K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	+0.049%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2452	−0.016%	$404K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2453	+0.037%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2452	−0.012%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	+0.011%	$1.2M	$925K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2452	−0.005%	$158K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2451	−0.039%	$101.9M	$362.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2451	−0.057%	$71.4M	$102.6M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2451	−0.057%	$32.3M	$106.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2450	−0.098%	$97.3M	$59.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2451	−0.057%	$52.9M	$50.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2453	+0.029%	$30.1M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2452	−0.016%	$65.8M	$43.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2453	+0.024%	—	$18.1M	—	as long as short
Backpack ADA_USDC_PERPlong	+0.0100%	1h	0.2452	long leg	$110K	$415K	15x
Variational Omni ADA	+0.0100%	8h	0.2454	+0.074%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.164%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	+0.174%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.024%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2454	+0.057%	$95K	$627K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	+0.024%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2454	+0.060%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.064%	$9K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2453	+0.024%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	+0.069%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2452	−0.016%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2452	−0.017%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	+0.027%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0113%	1h	0.2452	−0.008%	$6.2M	$11.6M	50x
Phoenix ADA	+0.0130%	1h	0.2452	0.000%	$4K	$78K	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0158%	1h	0.2454	+0.082%	$493K	$430K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	+0.147%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.758%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2453	+0.029%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2454	+0.057%	$122K	—	100x	as long as short