Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.040%

Price spread now: Deribit against BloFin+0.008%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.254%−$25 on $10k

Price spread, last 3 days (all we have)−0.026%−$3 · spread now +0.008%, 7d avg −0.010%

Together, before fees−0.280%−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ADA-USDT	0.2465	0.0220	pay 0.0220% / 8h	1h 43m	$4.4M	$5.5M	75x
Short	Deribit ADA_USDC-PERPETUAL	0.2465	0	get 0.0000% / 1h	43m 02s	$479K	$349K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$46.2
Price spread: +0.008% → −0.010%: $1.79
Slippage, 4 orders: −$21.57
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$84.98
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Deribit: live order book, 41 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 BloFin live order book, 6 min ago	4.07 bp	10.1 bp −$10	10.1 bp −$101	13.3 bp −$1,329	40.4 bp −$20.2K
Sell Deribit live order book, 41 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	0.2467	+0.068%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2466	+0.041%	$157K	$5.9M	3.2x	as long as short
Deribit ADA_USDC-PERPETUALshort	0.0000%	1h	0.2465	+0.008%	$479K	$349K	50x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2465	−0.012%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2464	−0.041%	$419K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0094%	1h	0.2466	+0.046%	$6.2M	$11.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2467	+0.097%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2469	+0.162%	$42.8M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2467	+0.066%	$1.2M	$920K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2467	+0.085%	$158K	$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 ADAUSDT	+0.0100%	8h	0.2468	+0.128%	$102.1M	$355.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2469	+0.162%	$71.6M	$99.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2471	+0.243%	$32.0M	$105.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2467	+0.081%	$97.4M	$57.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2468	+0.122%	$53.2M	$50.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2468	+0.122%	$30.4M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2470	+0.203%	$66.1M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2468	+0.122%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2468	+0.134%	$102K	$417K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2458	−0.273%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2463	−0.094%	$66K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2462	−0.105%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2464	−0.041%	$56K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2467	+0.089%	$97K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2464	−0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2465	+0.009%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2468	+0.121%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2465	+0.020%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2465	−0.002%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2466	+0.041%	$48.1M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2467	+0.095%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2470	+0.186%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2463	−0.089%	$4K	$74K	10x	as long as short
BloFin ADA-USDTlong	+0.0220%	8h	0.2465	long leg	$4.4M	$5.5M	75x
Reya ADARUSDPERP	+0.0286%	1h	0.2466	+0.049%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−0.811%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2463	−0.062%	$122K	—	100x	as long as short