Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h −0.034%

Price spread now: Kraken Futures against BloFin−0.018%57s7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.460% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.248%−$25 on $10k

Price spread, last 3 days (all we have)−0.025%−$2 · spread now −0.018%, 7d avg −0.036%

Together, before fees−0.273%−$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.036%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.248%, so the current rate has only just turned in your favour. The two prices were read 57 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	BloFin ADA-USDT	0.2453	0.0220	pay 0.0220% / 8h	2h 23m	$4.4M	$5.4M	75x
Short	Kraken Futures PF_ADAUSD	0.2453	0.0337	get 0.0042% / 1h	23m 25s	$6.1M	$11.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.018%Rate

Funding earned: $24.47
Price spread: −0.018% → −0.036%: $1.81
Slippage, 4 orders: −$24.04
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$19.77
Costs to cover: 0.460%
Break-even: 12.7 days

Slippage from BloFin: live order book, 5 min ago; Kraken Futures: live order book, 6 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, 5 min ago	4.08 bp	10.1 bp −$10	10.5 bp −$105	21.9 bp −$2,195	61.1 bp −$30.5K
Sell Kraken Futures live order book, 6 min ago	1.43 bp	12.8 bp −$13	16.2 bp −$162	72.0 bp −$7,201	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	0.2453	−0.005%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2452	−0.041%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	+0.069%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2452	−0.041%	$411K	$7.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0076%	1h	0.2453	−0.016%	$476K	$353K	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2457	+0.143%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.110%	$42.6M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	+0.050%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.094%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	+0.119%	$101.4M	$354.9M	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	+0.082%	$70.6M	$99.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	+0.082%	$31.9M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	+0.041%	$97.0M	$57.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	+0.041%	$52.6M	$56.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	+0.082%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2456	+0.122%	$65.8M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	+0.082%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2452	−0.024%	$101K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	+0.139%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.036%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.001%	$289K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.041%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.086%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	−0.082%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	−0.033%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.042%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	−0.020%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	+0.027%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2451	−0.082%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2455	+0.099%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	+0.089%	$558K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2455	+0.090%	$4K	$82K	10x	as long as short
BloFin ADA-USDTlong	+0.0220%	8h	0.2453	long leg	$4.4M	$5.4M	75x
Reya ADARUSDPERP	+0.0286%	1h	0.2455	+0.094%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0337%	1h	0.2453	−0.018%	$6.1M	$11.4M	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2454	+0.055%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.530%	$838	$131K	12x	as long as short