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= +0.4% APRpaid last 24h −0.006%

Price spread now: Extended against Binance−0.016%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.016%, 7d avg −0.049%

Together, before fees−0.074%+ Points / potential airdropExtended: Active · farm board−$7 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: Extended is 0.033% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ADAUSDT	0.2447	0.0100	pay 0.0100% / 8h	6h 09m	$102.7M	$371.7M	75x
Short	Extended ADA-USD	0.2446	0.0104	get 0.0013% / 1h	9m 15s	$532K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.016%Rate

Funding earned: $0.84
Price spread: −0.016% → −0.049%: $3.26
Slippage, 4 orders: −$8.14
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$19.04
Costs to cover: 0.231%
Break-even: 165.7 days

Slippage from Binance: live order book, 4 min ago; Extended: 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 Binance live order book, 4 min ago	2.04 bp	7.0 bp −$7	11.4 bp −$114	27.7 bp −$2,771	91.5 bp −$45.7K
Sell Extended live order book, 4 min ago	2.04 bp	4.5 bp −$5	9.8 bp −$98	doesn't fit	doesn't fit

ADA on 36 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	0.2445	−0.087%	$201K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	−0.058%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.989%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2447	+0.009%	$404K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	+0.004%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2446	−0.032%	$1.2M	$977K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	+0.025%	$157K	$159K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2447	long leg	$102.7M	$371.7M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2446	−0.032%	$72.0M	$108.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2448	+0.049%	$32.5M	$106.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2445	−0.073%	$97.8M	$60.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2445	−0.073%	$58.8M	$52.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2446	−0.041%	$29.8M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2446	−0.032%	$65.6M	$47.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2446	−0.032%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2449	+0.098%	$129K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	+0.338%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.376%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	+0.313%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.295%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2446	−0.020%	$93K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2446	−0.032%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2447	+0.010%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.045%	$8K	$759K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	+0.013%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	−0.023%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	−0.032%	$47.6M	$6.3M	50x	as long as short
Extended ADA-USDshort	+0.0104%	1h	0.2446	−0.016%	$532K	$1.8M	50x
Kalshi KXADAPERP	+0.0107%	8h	0.2449	+0.090%	$163K	$6.3M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2448	+0.055%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	+0.372%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0192%	1h	0.2448	+0.053%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2446	−0.033%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0355%	1h	0.2446	−0.031%	$6.2M	$12.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0363%	1h	0.2447	+0.017%	$500K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0415% / S −0.0202%	1h	0.2445	−0.068%	$95K	—	100x	as long as short