ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%

Price spread now: Kalshi against Bybit+0.162%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Bybit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.226%−$23 on $10k

Price spread, last 7 days−0.195%−$19 · spread now +0.162%, 7d avg −0.043%

Together, before fees−0.421%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.205% dearer against Bybit than usual: you sell high and buy low (spread +0.162% now, against its 7-day average of −0.043%): +$20 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ADAUSDT	0.2467	0.0100	pay 0.0100% / 8h	2h 55m	$73.4M	$117.4M	75x
Short	Kalshi KXADAPERP	0.2471	0	get 0.0000% / 8h	6h 55m	$136K	$7.0M	3.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Bybit. 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 BybitbpFee KalshibpOrdersPrice spread, now +0.162%Rate

Funding earned: −$21
Price spread: +0.162% → −0.043%: $20.48
Slippage, 4 orders: −$16.75
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$38.27
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Kalshi: live order book, 3 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 Bybit live order book, 3 min ago	2.03 bp	7.5 bp −$8	12.4 bp −$124	30.1 bp −$3,008	179.6 bp −$89.8K
Sell Kalshi live order book, 3 min ago	6.10 bp	11.6 bp −$12	21.7 bp −$217	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	0.2468	+0.021%	$203K	$2K	10x	as long as short
Kalshi KXADAPERPshort	0.0000%	8h	0.2471	+0.162%	$136K	$7.0M	3.2x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2470	+0.136%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0019%	1h	0.2471	+0.176%	$6.3M	$13.3M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.162%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2470	+0.101%	$2.4M	$985K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2473	+0.231%	$44.0M	$16.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2469	+0.090%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2470	+0.101%	$158K	$170K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2469	+0.066%	$103.9M	$392.7M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDTlong	+0.0100%	8h	0.2467	long leg	$73.4M	$117.4M	75x
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2469	+0.081%	$33.0M	$112.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2467	0.000%	$99.8M	$62.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2467	0.000%	$59.1M	$62.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2468	+0.028%	$29.6M	$15.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2468	+0.041%	$67.0M	$51.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2467	0.000%	—	$19.9M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2470	+0.124%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2466	−0.027%	$66K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2467	−0.012%	$289K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2465	−0.081%	$227K	$758K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2469	+0.093%	$93K	$634K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2471	+0.162%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2472	+0.201%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2471	+0.163%	$8K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2471	+0.178%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2470	+0.106%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2471	+0.162%	$48.2M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2468	+0.035%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2467	−0.007%	$534K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2470	+0.122%	$410K	$8.3M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0118%	1h	0.2472	+0.223%	$123K	$456K	15x	as long as short
Phoenix ADA	+0.0161%	1h	0.2470	+0.130%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2460	−0.284%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2468	+0.041%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0317%	1h	0.2473	+0.227%	$608K	$533K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0585%	1h	0.2470	+0.135%	$140K	—	100x	as long as short