Funding you earn now, next payment 00:00 UTC−0.0120%/8h= −13.1% APRnext payment −$1.20 per $10,000 · paid last 24h −0.036%
Price spread now: Phemex against BloFin−0.163%59s7-day average −0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$63as 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−$400.399% of the position
Funding, last 7 days−0.230%−$23 on $10k
+Price spread, last 3 days (all we have)+0.141%+$14 · spread now −0.163%, 7d avg −0.038%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.125% cheaper against BloFin than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.038%). Swap the legs. The two prices were read 59 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 | 0.2451 | 0.0220 | pay 0.0220% / 8h | 2h 29m | $4.4M | $5.4M | 75x |
| Short | Phemex ADAUSDT | 0.2447 | 0.0100 | get 0.0100% / 8h | 2h 29m | $47.8M | $5.8M | 50x |
BloFin ADA-USDT
Phemex ADAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BloFin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$25.2
- Price spread: −0.163% → −0.038%
- −$12.51
- Slippage, 4 orders
- −$15.92
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$77.63
- Costs to cover
- 0.399%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago | 2.04 bp | 8.0 bp −$8 | 8.0 bp −$80 | 23.3 bp −$2,331 | 65.2 bp −$32.6K |
| Sell Phemex live order book, 4 min ago | 2.04 bp | 11.7 bp −$12 | 17.9 bp −$179 | 47.9 bp −$4,793 | 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 | 0.2446 | −0.190% | $201K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2448 | −0.122% | $153K | $5.9M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2447 | −0.173% | $84K | — | 150x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0036% | 1h | 0.2448 | −0.114% | $475K | $354K | 50x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2448 | −0.122% | $408K | $7.2M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2450 | −0.061% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2448 | −0.106% | $42.5M | $14.5M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2448 | −0.122% | $1.2M | $999K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2448 | −0.131% | $157K | $147K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2448 | −0.122% | $101.0M | $355.5M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Deribit ADA_USDC-PERPETUAL
Coinbase International ADA-PERP-INTX
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2448 | −0.122% | $70.5M | $99.5M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2447 | −0.163% | $31.8M | $105.0M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2446 | −0.204% | $96.7M | $57.6M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2448 | −0.122% | $52.5M | $56.6M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2448 | −0.131% | $30.2M | $18.3M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2447 | −0.163% | $65.6M | $42.7M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2448 | −0.122% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2448 | −0.131% | $101K | $411K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2448 | −0.106% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2447 | −0.146% | $65K | $280K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2448 | −0.125% | $299K | $3.9M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2448 | −0.122% | $55K | $579K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2448 | −0.122% | $97K | $642K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2448 | −0.122% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2447 | −0.153% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2450 | −0.041% | $9K | $758K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2447 | −0.180% | $337 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2449 | −0.086% | $1.3M | $4.9M | 75x | as long as short |
| Phemex ADAUSDTshort | +0.0100% | 8h | 0.2447 | −0.163% | $47.8M | $5.8M | 50x | |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2448 | −0.112% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2447 | −0.156% | $554K | $1.8M | 50x | as long as short |
| Phoenix ADA | +0.0195% | 1h | 0.2446 | −0.220% | $4K | $82K | 10x | as long as short |
| BloFin ADA-USDTlong | +0.0220% | 8h | 0.2451 | long leg | $4.4M | $5.4M | 75x | |
| Reya ADARUSDPERP | +0.0287% | 1h | 0.2448 | −0.130% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0337% | 1h | 0.2447 | −0.178% | $6.1M | $11.4M | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0437% / S −0.0207% | 1h | 0.2446 | −0.190% | $96K | — | 100x | as long as short |
| Injective ADA/USDC PERP | +0.0533% | 1h | 0.2440 | −0.449% | $838 | $131K | 12x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Paradex ADA-USD-PERP
Extended ADA-USD
Phoenix ADA
Reya ADARUSDPERP
Kraken Futures PF_ADAUSD
GMX ADA/USD [WBTC.b-USDC]
Injective ADA/USDC PERP