Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.010%

Price spread now: Coinbase International against Binance−0.075%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

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

costs, in and out, $10k−$360.359% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 3 days (all we have)+0.087%+$9 · spread now −0.075%, 7d avg −0.036%

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.039% cheaper against Binance than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ADAUSDT	0.2453	0.0100	pay 0.0100% / 8h	34m 02s	$101.9M	$362.4M	75x
Short	Coinbase International ADA-PERP-INTX	0.2451	0.0056	get 0.0007% / 1h	34m 02s	$404K	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$9.24
Price spread: −0.075% → −0.036%: −$3.9
Slippage, 4 orders: −$15.86
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$49
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Coinbase International: live order book, 5 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 Binance live order book, 10 min ago	2.03 bp	7.0 bp −$7	10.1 bp −$101	23.4 bp −$2,341	91.0 bp −$45.5K
Sell Coinbase International live order book, 5 min ago	4.07 bp	9.1 bp −$9	15.2 bp −$152	doesn't fit	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	−0.049%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2454	+0.048%	$175K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2452	−0.048%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0056%	1h	0.2451	−0.075%	$404K	$7.3M	50x
Lighter ADA	+0.0096%	1h	0.2453	+0.019%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2453	+0.011%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2452	−0.021%	$1.2M	$925K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2452	−0.020%	$158K	$145K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2453	long leg	$101.9M	$362.4M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2452	−0.034%	$71.5M	$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	0.2453	+0.007%	$32.3M	$106.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2450	−0.115%	$97.3M	$59.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2451	−0.075%	$52.9M	$50.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2452	−0.042%	$30.1M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2452	−0.034%	$65.8M	$43.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2452	−0.034%	—	$18.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2453	−0.005%	$110K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	+0.056%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.146%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	+0.156%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.170%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2451	−0.067%	$95K	$627K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	−0.075%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	−0.041%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	−0.035%	$9K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	−0.054%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2452	−0.034%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2452	−0.034%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2452	−0.019%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2452	−0.031%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2452	−0.043%	$6.2M	$11.6M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0117%	1h	0.2452	−0.014%	$493K	$430K	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2459	+0.243%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	+0.007%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.741%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2451	−0.069%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2451	−0.073%	$122K	—	100x	as long as short