ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0052%/8h= +5.7% APRnext payment +$0.07 per $10,000 · paid last 24h +0.009%

Price spread now: Backpack against Coinbase International+0.008%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now +0.008%, 7d avg +0.022%

Together, before fees−0.028%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2455	0.0048	pay 0.0006% / 1h	51m 21s	$410K	$7.4M	50x
Short	Backpack ADA_USDC_PERP	0.2455	0.0100	get 0.0013% / 1h	51m 21s	$129K	$422K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now +0.008%Rate

Funding earned: $10.92
Price spread: +0.008% → +0.022%: −$1.43
Slippage, 4 orders: −$16.95
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$27.46
Costs to cover: 0.369%
Break-even: 24.6 days

Slippage from Coinbase International: live order book, 3 min ago; Backpack: live order book, 17 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 Coinbase International live order book, 3 min ago	6.15 bp	11.1 bp −$11	19.6 bp −$196	doesn't fit	doesn't fit
Sell Backpack live order book, 17 min ago	0.81 bp	6.6 bp −$7	9.6 bp −$96	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	0.2448	−0.285%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2453	−0.081%	$205K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	−0.226%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.652%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0048%	1h	0.2455	long leg	$410K	$7.4M	50x
Hyperliquid ADA	+0.0100%	1h	0.2450	−0.183%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2451	−0.178%	$1.2M	$968K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2448	−0.277%	$157K	$156K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2451	−0.169%	$102.0M	$374.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2450	−0.204%	$71.9M	$107.8M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	−0.081%	$32.4M	$108.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2449	−0.244%	$98.2M	$58.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2448	−0.285%	$50.1M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	−0.212%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2449	−0.244%	$65.6M	$46.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2450	−0.204%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERPshort	+0.0100%	1h	0.2455	+0.008%	$129K	$422K	15x
Variational Omni ADA	+0.0100%	8h	0.2434	−0.850%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2444	−0.465%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.448%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	−0.326%	$56K	$587K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	−0.236%	$92K	$655K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	−0.163%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	−0.072%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	−0.040%	$9K	$773K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2453	−0.077%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	+0.057%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.041%	$47.8M	$6.4M	50x	as long as short
Lighter ADA	+0.0104%	1h	0.2450	−0.224%	$2.4M	$1.0M	10x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	−0.229%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2448	−0.301%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2441	−0.570%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2448	−0.285%	$4.5M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2449	−0.264%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2453	−0.094%	$6.2M	$12.0M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0362%	1h	0.2454	−0.061%	$499K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0622% / S −0.0389%	1h	0.2452	−0.139%	$140K	—	100x	as long as short