Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h −0.004%

Price spread now: Deribit against Binance+0.023%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5,547as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5,546as in the Price arb table

costs, in and out, $10k−$5,54655.464% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 3 days (all we have)+0.423%+$42 · spread now +0.023%, 7d avg +0.016%

Together, before fees+0.418%+$42 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ADAUSDT	0.2454	0.0100	pay 0.0100% / 8h	2h 57m	$102.1M	$357.5M	75x
Short	Deribit ADA_USDC-PERPETUAL	0.2454	0.0198	get 0.0025% / 1h	57m 09s	$477K	$359K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.023%Rate

Funding earned: $20.58
Price spread: +0.023% → +0.016%: $0.68
Slippage, 4 orders: −$5,529.36
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$5,525.11
Costs to cover: 55.464%
Break-even: 1886.3 days

Slippage from Binance: live order book, 1 min ago; Deribit: live order book, 31 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, 1 min ago	2.04 bp	7.0 bp −$7	9.7 bp −$97	28.3 bp −$2,834	101.2 bp −$50.6K
Sell Deribit live order book, 31 min ago	24.09 bp	29.4 bp −$29	doesn't fit	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	0.2453	−0.024%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2454	+0.019%	$153K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.031%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2449	−0.185%	$405K	$7.1M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2455	+0.072%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2454	+0.015%	$42.5M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	+0.035%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	−0.013%	$157K	$148K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2454	long leg	$102.1M	$357.5M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2452	−0.062%	$71.0M	$101.1M	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	−0.022%	$32.3M	$105.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2452	−0.062%	$97.3M	$56.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	−0.022%	$52.9M	$56.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2453	−0.013%	$30.7M	$18.5M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2453	−0.022%	$65.6M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2453	−0.022%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2454	+0.011%	$102K	$425K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2465	+0.449%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2465	+0.471%	$66K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2463	+0.403%	$297K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2464	+0.427%	$55K	$578K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2454	+0.023%	$96K	$700K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	−0.022%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2454	+0.031%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.017%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2453	−0.034%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2453	−0.031%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2453	−0.022%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2453	−0.023%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2452	−0.053%	$565K	$1.8M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2454	−0.001%	$4K	$82K	10x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0198%	1h	0.2454	+0.023%	$477K	$359K	50x
BloFin ADA-USDT	+0.0220%	8h	0.2455	+0.060%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2454	+0.017%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2453	−0.006%	$6.1M	$11.6M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0521% / S −0.0277%	1h	0.2452	−0.053%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.141%	$844	$95K	12x	as long as short