Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.005%

Price spread now: Binance against Coinbase International−0.446%7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.085%+$9 on $10k

Price spread, last 4 days (all we have)+0.474%+$47 · spread now −0.446%, 7d avg +0.043%

Together, before fees+0.559%+$56 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.489% cheaper against Coinbase International than usual: you would sell low and buy high (−$49 if the spread goes back to its 7-day average of +0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.085%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2464	0.0120	pay 0.0015% / 1h	3m 55s	$368K	$8.5M	50x
Short	Binance ADAUSDT	0.2453	0.0100	get 0.0100% / 8h	1h 03m	$103.4M	$407.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.446%Rate

Funding earned: −$4.2
Price spread: −0.446% → +0.043%: −$48.94
Slippage, 4 orders: −$17.2
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$90.35
Costs to cover: 0.372%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Binance: live order book, 10 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, 5 min ago	4.07 bp	12.1 bp −$12	18.9 bp −$189	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	2.03 bp	7.0 bp −$7	10.6 bp −$106	28.6 bp −$2,856	82.9 bp −$41.4K

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	0.2457	−0.284%	$164K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.435%	$84K	—	150x	as long as short
dYdX ADA-USD	+0.0031%	1h	0.2454	−0.404%	$202K	$2K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.284%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	−0.406%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	−0.446%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2459	−0.200%	$158K	$178K	10x	as long as short
Binance ADAUSDTshort	+0.0100%	8h	0.2453	−0.446%	$103.4M	$407.6M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2453	−0.446%	$73.0M	$124.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	−0.446%	$32.6M	$118.3M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2451	−0.528%	$100.3M	$65.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2452	−0.487%	$53.3M	$66.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2452	−0.467%	$29.5M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2453	−0.446%	$66.7M	$53.5M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2452	−0.487%	—	$6.6M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2464	+0.003%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2461	−0.112%	$66K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2461	−0.119%	$294K	$3.9M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2454	−0.414%	$127K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.384%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	−0.203%	$8K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2454	−0.398%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2459	−0.186%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.406%	$47.6M	$7.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2452	−0.495%	$516K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2458	−0.223%	$21K	$250	20x	as long as short
ApeX Omni ADAUSDT	+0.0112%	1h	0.2461	−0.122%	$79K	$893K	50x	as long as short
Lighter ADA	+0.0120%	1h	0.2456	−0.317%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0120%	1h	0.2464	long leg	$368K	$8.5M	50x
Backpack ADA_USDC_PERP	+0.0140%	1h	0.2453	−0.430%	$139K	$487K	15x	as long as short
Phoenix ADA	+0.0163%	1h	0.2464	−0.020%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0170%	1h	0.2454	−0.416%	$6.3M	$13.9M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2463	−0.041%	$4.5M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0274%	1h	0.2454	−0.426%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0280%	1h	0.2455	−0.386%	$626K	$615K	50x	as long as short
Hyperliquid ADA	+0.0287%	1h	0.2456	−0.313%	$43.2M	$18.1M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0602% / S −0.0679%	1h	0.2453	−0.451%	$156K	—	100x	as long as short