Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.010%

Price spread now: edgeX against Coinbase International+0.116%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.177%+$18 on $10k

Price spread, last 3 days (all we have)−0.328%−$33 · spread now +0.116%, 7d avg +0.006%

Together, before fees−0.150%+ Points / potential airdropedgeX: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and edgeX is 0.110% dearer against Coinbase International than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2450	0.0056	pay 0.0007% / 1h	30m 44s	$404K	$7.3M	50x
Short	edgeX ADAUSDC	0.2453	0.0100	get 0.0050% / 4h	30m 44s	$65K	$282K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.116%Rate

Funding earned: $9.24
Price spread: +0.116% → +0.006%: $11.01
Slippage, 4 orders: −$23.23
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$21.98
Costs to cover: 0.422%
Break-even: 23.7 days

Slippage from Coinbase International: live order book, 3 min ago; edgeX: live order book, 47 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	4.08 bp	11.5 bp −$11	18.9 bp −$189	doesn't fit	doesn't fit
Sell edgeX live order book, 47 min ago	6.10 bp	10.6 bp −$11	28.6 bp −$286	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	0.2444	−0.227%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2450	0.000%	$175K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2450	−0.016%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0056%	1h	0.2450	long leg	$404K	$7.3M	50x
Lighter ADA	+0.0096%	1h	0.2445	−0.184%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2445	−0.184%	$42.3M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2447	−0.110%	$1.2M	$927K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2449	−0.029%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2444	−0.257%	$101.6M	$362.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2446	−0.163%	$71.0M	$102.9M	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	0.2444	−0.245%	$32.3M	$106.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2446	−0.163%	$97.2M	$59.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	−0.122%	$52.9M	$50.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2449	−0.053%	$30.1M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2444	−0.245%	$65.6M	$43.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2446	−0.163%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	−0.020%	$110K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	−0.032%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDCshort	+0.0100%	4h	0.2453	+0.116%	$65K	$282K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	+0.160%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.163%	$56K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	−0.033%	$90K	$631K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2450	0.000%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2450	−0.011%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	−0.001%	$9K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	−0.020%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2449	−0.033%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2449	−0.041%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2449	−0.025%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.119%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2449	−0.022%	$6.2M	$11.6M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0117%	1h	0.2450	−0.004%	$492K	$430K	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2452	+0.098%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2448	−0.082%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.857%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2449	−0.036%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0564% / S −0.0313%	1h	0.2449	−0.025%	$122K	—	100x	as long as short