Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Binance−0.068%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

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

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.296%+$30 · spread now −0.068%, 7d avg −0.012%

Together, before fees+0.318%+$32 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: Phemex is 0.056% cheaper against Binance than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.012%.

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	2h 47m	$100.8M	$354.2M	75x
Short	Phemex ADAUSDT	0.2447	0.0100	get 0.0100% / 8h	2h 47m	$47.8M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.068%Rate

Funding earned: $0
Price spread: −0.068% → −0.012%: −$5.62
Slippage, 4 orders: −$15.38
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$43.01
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Phemex: live order book, 2 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, 11 min ago	2.04 bp	7.0 bp −$7	9.7 bp −$97	28.3 bp −$2,834	101.2 bp −$50.6K
Sell Phemex live order book, 2 min ago	2.04 bp	15.3 bp −$15	21.9 bp −$219	47.3 bp −$4,727	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	0.2447	−0.062%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2447	−0.068%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2448	−0.031%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2446	−0.109%	$409K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2448	−0.015%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	−0.060%	$42.3M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2447	−0.064%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2446	−0.095%	$156K	$146K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2449	long leg	$100.8M	$354.2M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2447	−0.068%	$70.5M	$99.4M	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	0.2447	−0.068%	$32.1M	$104.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2446	−0.109%	$96.9M	$57.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	−0.068%	$52.7M	$56.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2446	−0.097%	$30.5M	$18.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2448	−0.027%	$65.3M	$42.6M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2448	−0.027%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	−0.044%	$104K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2447	−0.088%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2448	−0.034%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2447	−0.078%	$286K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2448	−0.027%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2447	−0.064%	$96K	$701K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2448	−0.027%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	−0.027%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	−0.028%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.072%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	−0.092%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2447	−0.068%	$47.8M	$5.8M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2447	−0.050%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.076%	$560K	$1.8M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0118%	1h	0.2449	+0.001%	$475K	$354K	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2449	+0.026%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2448	−0.027%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2448	−0.008%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2447	−0.070%	$6.1M	$11.5M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0521% / S −0.0277%	1h	0.2447	−0.058%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.340%	$844	$95K	12x	as long as short