ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0183%/8h= +20.0% APRnext payment +$0.23 per $10,000 · paid last 24h +0.010%

Price spread now: Deribit against Coinbase International+0.098%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5,546as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5,550as in the Price arb table

costs, in and out, $10k−$5,55455.543% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 3 days (all we have)+0.023%+$2 · spread now +0.098%, 7d avg +0.057%

Together, before fees+0.107%+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.041% dearer against Coinbase International than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.057%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.083% in total (about 4.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.23 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2454	0.0056	pay 0.0007% / 1h	55m 42s	$391K	$7.2M	50x
Short	Deribit ADA_USDC-PERPETUAL	0.2456	0.0239	get 0.0030% / 1h	55m 42s	$477K	$359K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.098%Rate

Funding earned: $38.43
Price spread: +0.098% → +0.057%: $4.1
Slippage, 4 orders: −$5,537.28
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$5,511.75
Costs to cover: 55.543%
Break-even: 1011.0 days

Slippage from Coinbase International: live order book, 3 min ago; Deribit: live order book, 33 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	4.06 bp	12.9 bp −$13	19.2 bp −$192	doesn't fit	doesn't fit
Sell Deribit live order book, 33 min ago	24.09 bp	29.4 bp −$29	doesn't fit	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	0.2456	+0.069%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2453	−0.041%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.052%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0056%	1h	0.2454	long leg	$391K	$7.2M	50x
Lighter ADA	+0.0096%	1h	0.2457	+0.139%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.069%	$42.5M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.045%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.056%	$157K	$148K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	+0.066%	$102.2M	$356.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	0.000%	$71.1M	$100.0M	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	0.2456	+0.081%	$32.3M	$105.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	0.000%	$97.4M	$56.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2455	+0.041%	$52.9M	$56.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	+0.053%	$30.7M	$18.5M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	+0.041%	$65.6M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	+0.041%	—	$20.7M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2456	+0.081%	$102K	$421K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2465	+0.429%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2465	+0.452%	$66K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2463	+0.383%	$297K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2464	+0.407%	$55K	$578K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2454	−0.020%	$96K	$700K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	0.000%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.036%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	+0.080%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	+0.061%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	+0.076%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2455	+0.041%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2455	+0.035%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	+0.029%	$564K	$1.8M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2454	−0.020%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2455	+0.041%	$4.4M	$5.4M	75x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0239%	1h	0.2456	+0.098%	$477K	$359K	50x
Reya ADARUSDPERP	+0.0287%	1h	0.2453	−0.043%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2456	+0.081%	$6.2M	$11.6M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0521% / S −0.0277%	1h	0.2453	−0.049%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.122%	$844	$95K	12x	as long as short