Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0176%/8h= +19.2% APRpaid last 24h +0.058%

Price spread now: Reya against Bybit−0.061%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.061% cheaper against Bybit than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 28 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ADAUSDT	0.2427	0.0100	pay 0.0100% / 8h	2h 22m	$71.2M	$123.0M	75x
Short	Reya ADARUSDPERP	0.2426	0.0276	get 0.0034% / 1h	22m 20s	$1K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.061%Rate

Funding earned: $36.87
Price spread: −0.061% → 0.000%: −$6.08
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Reya: 3 bp × 2 orders: −$6
Net: $13.8
Costs to cover: 0.170%
Break-even: 4.4 days

Slippage unknown: Bybit: live order book, 2 min ago; Reya: no order-book sample. Net counts fees only.

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, 2 min ago	2.07 bp	7.6 bp −$8	12.0 bp −$120	34.3 bp −$3,435	210.4 bp −$105.2K
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kalshi KXADAPERP	0.0000%	8h	0.2420	−0.288%	$201K	$7.4M	3.2x	as long as short
dYdX ADA-USD	+0.0002%	1h	0.2422	−0.205%	$199K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2425	−0.066%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2419	−0.318%	$6.2M	$13.7M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2415	−0.486%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.813%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2424	−0.107%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2427	+0.008%	$41.8M	$17.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2426	−0.048%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2424	−0.119%	$155K	$176K	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	0.2428	+0.039%	$102.1M	$407.2M	75x	as long as short
Bybit ADAUSDTlong	+0.0100%	8h	0.2427	long leg	$71.2M	$123.0M	75x
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2429	+0.082%	$32.2M	$116.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2426	−0.041%	$98.6M	$64.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2426	−0.041%	$52.5M	$64.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2425	−0.087%	$29.1M	$15.7M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2426	−0.041%	$65.9M	$53.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2427	0.000%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2422	−0.218%	$125K	$478K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2414	−0.531%	$4.1M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2410	−0.685%	$64K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2419	−0.337%	$284K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2408	−0.783%	$84K	$882K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2425	−0.070%	$114K	$918K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2428	+0.041%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2419	−0.316%	$39K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2420	−0.290%	$8K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2420	−0.276%	$333	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2422	−0.222%	$1.3M	$6.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2420	−0.288%	$47.0M	$7.4M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2424	−0.120%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2424	−0.109%	$519K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2421	−0.247%	$377K	$8.4M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2419	−0.330%	$4.4M	$5.8M	75x	as long as short
Reya ADARUSDPERPshort	+0.0276%	1h	0.2426	−0.061%	$1K	—	15x
Deribit ADA_USDC-PERPETUAL	+0.0536%	1h	0.2421	−0.260%	$603K	$597K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0638% / S −0.0701%	1h	0.2426	−0.056%	$158K	—	100x	as long as short