Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.004%

Price spread now: Deribit against Bitget+0.147%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 3 days (all we have)+0.090%+$9 · spread now +0.147%, 7d avg +0.043%

Together, before fees+0.057%+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.104% dearer against Bitget than usual: you sell high and buy low (spread +0.147% now, against its 7-day average of +0.043%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 7 days (−0.033% in total) that is about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ADAUSDT	0.2455	0.0100	pay 0.0100% / 8h	2h 17m	$65.7M	$42.9M	75x
Short	Deribit ADA_USDC-PERPETUAL	0.2459	0	get 0.0000% / 1h	17m 07s	$477K	$353K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now +0.147%Rate

Funding earned: −$21
Price spread: +0.147% → +0.043%: $10.37
Slippage, 4 orders: −$14.86
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$44.49
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Deribit: live order book, 7 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 Bitget live order book, 2 min ago	2.03 bp	11.5 bp −$12	14.4 bp −$144	26.4 bp −$2,639	105.9 bp −$52.9K
Sell Deribit live order book, 7 min ago	3.05 bp	7.3 bp −$7	14.5 bp −$145	doesn't fit	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	0.2456	+0.048%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2458	+0.122%	$153K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUALshort	0.0000%	1h	0.2459	+0.147%	$477K	$353K	50x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2457	+0.095%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2459	+0.163%	$408K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2458	+0.114%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.057%	$42.6M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2457	+0.078%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2458	+0.112%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	+0.039%	$101.5M	$355.5M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2455	0.000%	$70.7M	$100.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	0.000%	$31.9M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	−0.041%	$96.9M	$58.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	+0.041%	$52.9M	$56.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2457	+0.077%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDTlong	+0.0100%	8h	0.2455	long leg	$65.7M	$42.9M	75x
BingX ADA-USDT	+0.0100%	8h	0.2455	0.000%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2457	+0.065%	$101K	$409K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2460	+0.219%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2463	+0.328%	$66K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2463	+0.316%	$290K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2462	+0.285%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2458	+0.122%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2457	+0.081%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2458	+0.131%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	+0.163%	$9K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	+0.069%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2460	+0.209%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2456	+0.041%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2460	+0.201%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2456	+0.050%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2464	+0.363%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.081%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2458	+0.114%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2457	+0.067%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2457	+0.097%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.611%	$838	$131K	12x	as long as short