Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0008%/8h= −0.8% APRpaid last 24h +0.016%

Price spread now: Kraken Futures against Binance+0.042%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)+0.166%+$17 · spread now +0.042%, 7d avg −0.004%

Together, before fees+0.196%+$20 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: Kraken Futures is 0.046% dearer against Binance than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.004%.

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	4h 50m	$103.5M	$372.4M	75x
Short	Kraken Futures PF_ADAUSD	0.2450	0.0092	get 0.0012% / 1h	50m 31s	$6.2M	$12.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$1.6
Price spread: +0.042% → −0.004%: $4.63
Slippage, 4 orders: −$17.36
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$34.34
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Kraken Futures: live order book, 3 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, 8 min ago	2.04 bp	7.0 bp −$7	12.5 bp −$125	29.8 bp −$2,984	100.1 bp −$50.1K
Sell Kraken Futures live order book, 3 min ago	0.20 bp	14.0 bp −$14	19.0 bp −$190	44.5 bp −$4,452	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	0.2448	−0.058%	$201K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2451	+0.082%	$145K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	+0.015%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.898%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2456	+0.286%	$412K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0092%	1h	0.2450	+0.042%	$6.2M	$12.8M	50x
Lighter ADA	+0.0096%	1h	0.2450	+0.045%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	+0.184%	$1.2M	$981K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	+0.033%	$159K	$161K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2449	long leg	$103.5M	$372.4M	75x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2447	−0.082%	$71.4M	$111.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	0.000%	$32.6M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2447	−0.082%	$98.0M	$58.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	0.000%	$61.1M	$59.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	+0.196%	$29.6M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2448	−0.041%	$65.8M	$50.1M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2448	−0.041%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2451	+0.073%	$125K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	−0.038%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2459	+0.389%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.351%	$287K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.327%	$227K	$741K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2450	+0.061%	$92K	$684K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2450	+0.041%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2450	+0.050%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	+0.123%	$9K	$740K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.053%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2450	+0.043%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2450	+0.041%	$47.7M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2448	−0.026%	$530K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2453	+0.158%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0113%	1h	0.2456	+0.269%	$42.6M	$14.9M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2454	+0.196%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2452	+0.122%	$4.5M	$5.7M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2451	+0.062%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0485%	1h	0.2451	+0.065%	$585K	$486K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0463%	1h	0.2450	+0.032%	$149K	—	100x	as long as short