Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.003%

Price spread now: Injective against Binance+0.881%7-day average −0.321% · you sell dearer than you buy

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 3 days (all we have)−2.202%−$220 · spread now +0.881%, 7d avg −0.321%

Together, before fees−2.219%−$222 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.203% dearer against Binance than usual: you sell high and buy low (spread +0.881% now, against its 7-day average of −0.321%): +$120 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−0.018% in total) that is about 16 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ADAUSDT	0.2449	0.0100	pay 0.0100% / 8h	6h 08m	$102.8M	$371.7M	75x
Short	Injective ADA/USDC PERP	0.2471	0.0033	get 0.0004% / 1h	8m 50s	$849	$202K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.881%Rate

Funding earned: −$14
Price spread: +0.881% → −0.321%: $120.25
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $96.23
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 5 min ago; Injective: 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 Binance live order book, 5 min ago	2.04 bp	7.0 bp −$7	11.4 bp −$114	27.7 bp −$2,771	91.5 bp −$45.7K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 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	−0.194%	$201K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	−0.165%	$84K	—	150x	as long as short
Injective ADA/USDC PERPshort	+0.0033%	1h	0.2471	+0.881%	$849	$202K	12x
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2447	−0.098%	$404K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	−0.090%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2447	−0.114%	$1.2M	$977K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	−0.082%	$157K	$159K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2449	long leg	$102.8M	$371.7M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2448	−0.058%	$72.1M	$108.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	+0.024%	$32.5M	$107.0M	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	0.2447	−0.098%	$97.9M	$60.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2448	−0.058%	$58.8M	$52.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2447	−0.119%	$29.8M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2447	−0.098%	$65.6M	$47.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2448	−0.058%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	−0.131%	$129K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	+0.231%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.269%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	+0.206%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.187%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2446	−0.127%	$93K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2446	−0.139%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2447	−0.097%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	−0.062%	$8K	$759K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.094%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	−0.130%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	−0.139%	$47.6M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.083%	$532K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0107%	8h	0.2449	−0.017%	$163K	$6.3M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2448	−0.052%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	+0.265%	$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	−0.140%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0355%	1h	0.2446	−0.138%	$6.2M	$12.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0363%	1h	0.2447	−0.090%	$500K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0415% / S −0.0202%	1h	0.2445	−0.175%	$95K	—	100x	as long as short