Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0187%/8h= +20.4% APRpaid last 24h +0.061%

Price spread now: Reya against Binance−0.129%45s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.129% cheaper against Binance than usual: you would sell low and buy high (spread −0.129% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 2.3 days of funding at the current rate (+$6 a day). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

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	2h 35m	$100.9M	$355.7M	75x
Short	Reya ADARUSDPERP	0.2444	0.0287	get 0.0036% / 1h	35m 38s	$1K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.129%Rate

Funding earned: $39.21
Price spread: −0.129% → 0.000%: −$12.94
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $10.27
Costs to cover: 0.160%
Break-even: 5.2 days

Slippage unknown: Binance: live order book, 8 min ago; Reya: 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, 8 min ago	2.04 bp	7.0 bp −$7	10.0 bp −$100	26.9 bp −$2,691	96.8 bp −$48.4K
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 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	0.2446	−0.035%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2446	−0.041%	$153K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	−0.091%	$87K	—	150x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0036%	1h	0.2446	−0.057%	$475K	$354K	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2447	0.000%	$407K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2447	+0.020%	$2.4M	$1.3M	10x	as long as short
Gate ADA_USDT	+0.0097%	8h	0.2443	−0.163%	$96.6M	$57.5M	75x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	−0.008%	$42.4M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2445	−0.085%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	−0.007%	$156K	$147K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDTlong	+0.0100%	8h	0.2447	long leg	$100.9M	$355.7M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2446	−0.041%	$70.5M	$99.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2446	−0.041%	$31.8M	$105.0M	50x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2446	−0.041%	$52.4M	$56.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2446	−0.033%	$30.3M	$18.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2447	0.000%	$65.5M	$42.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2447	0.000%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2445	−0.082%	$101K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	+0.021%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2442	−0.193%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	+0.038%	$286K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2448	+0.041%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2445	−0.102%	$96K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2445	−0.082%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2445	−0.091%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2445	−0.082%	$9K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	−0.102%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2447	−0.020%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2445	−0.082%	$47.7M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2448	+0.024%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2444	−0.134%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2447	−0.004%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2451	+0.163%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERPshort	+0.0287%	1h	0.2444	−0.129%	$1K	—	15x
Kraken Futures PF_ADAUSD	+0.0338%	1h	0.2444	−0.106%	$6.1M	$11.5M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0437% / S −0.0277%	1h	0.2445	−0.086%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.286%	$838	$131K	12x	as long as short