Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h 0.000%

Price spread now: Paradex against Backpack+0.193%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.193% dearer against Backpack than usual: you sell high and buy low, +$19 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ADA_USDC_PERP	0.2434	0.0100	pay 0.0013% / 1h	55m 25s	$128K	$423K	15x
Short	Paradex ADA-USD-PERP	0.2439	0.0104	get 0.0104% / 8h	6h 55m	$20K	$250	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.193%Rate

Funding earned: $0.9
Price spread: +0.193% → 0.000%: $19.27
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $6.17
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Backpack: live order book, 13 min ago; Paradex: no order-book sample. Net counts fees only.

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, 13 min ago	0.81 bp	7.0 bp −$7	9.1 bp −$91	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
ApeX Omni ADAUSDT	−0.0012%	1h	0.2452	+0.727%	$56K	$587K	50x	as long as short
dYdX ADA-USD	0.0000%	1h	0.2435	+0.018%	$200K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2442	+0.316%	$203K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2434	+0.007%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.508%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2433	−0.053%	$427K	$7.3M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2441	+0.267%	$4K	$87K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2436	+0.062%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2436	+0.089%	$1.2M	$966K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2436	+0.077%	$157K	$156K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2436	+0.053%	$101.4M	$373.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2434	−0.012%	$71.4M	$107.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2435	+0.029%	$32.2M	$107.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2434	−0.012%	$97.8M	$58.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2436	+0.070%	$50.1M	$50.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2436	+0.078%	$29.8M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2435	+0.029%	$65.1M	$46.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2435	+0.029%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERPlong	+0.0100%	1h	0.2434	long leg	$128K	$423K	15x
Variational Omni ADA	+0.0100%	8h	0.2434	−0.007%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	+0.665%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.730%	$295K	$3.7M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2434	0.000%	$92K	$655K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2434	−0.012%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	+0.097%	$39K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2437	+0.112%	$9K	$771K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2435	+0.049%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2436	+0.085%	$1.3M	$5.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2435	+0.029%	$47.4M	$6.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2436	+0.088%	$530K	$1.8M	50x	as long as short
Paradex ADA-USD-PERPshort	+0.0104%	8h	0.2439	+0.193%	$20K	$250	20x
Lighter ADA	+0.0112%	1h	0.2437	+0.115%	$2.4M	$1.0M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0120%	1h	0.2436	+0.078%	$487K	$462K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	+0.522%	$4.4M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2435	+0.010%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0357%	1h	0.2435	+0.029%	$6.2M	$12.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0393%	1h	0.2435	+0.025%	$140K	—	100x	as long as short