Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.010%

Price spread now: Gate against Coinbase International+0.244%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$500.503% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.104%+$10 on $10k

Price spread, last 3 days (all we have)−0.335%−$34 · spread now +0.244%, 7d avg −0.013%

Together, before fees−0.231%−$23 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 Gate is 0.258% dearer against Coinbase International than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2454	0.0064	pay 0.0008% / 1h	56m 01s	$407K	$7.2M	50x
Short	Gate ADA_USDT	0.2460	0.0100	get 0.0100% / 8h	1h 56m	$97.0M	$57.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.244%Rate

Funding earned: $7.56
Price spread: +0.244% → −0.013%: $25.75
Slippage, 4 orders: −$25.32
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$17.01
Costs to cover: 0.503%
Break-even: 22.7 days

Slippage from Coinbase International: live order book, 3 min ago; Gate: live order book, 3 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	6.11 bp	11.9 bp −$12	18.8 bp −$188	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	2.04 bp	13.3 bp −$13	16.7 bp −$167	94.2 bp −$9,419	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	0.2462	+0.338%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2458	+0.163%	$162K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2462	+0.330%	$478K	$352K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2461	+0.270%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0064%	1h	0.2454	long leg	$407K	$7.2M	50x
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2461	+0.301%	$6.2M	$11.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2463	+0.367%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2463	+0.359%	$42.7M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2461	+0.287%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2462	+0.334%	$157K	$147K	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	0.2461	+0.305%	$102.0M	$355.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2461	+0.285%	$70.8M	$99.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2462	+0.326%	$31.9M	$105.6M	50x	as long as short
Gate ADA_USDTshort	+0.0100%	8h	0.2460	+0.244%	$97.0M	$57.3M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2461	+0.285%	$53.0M	$50.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2461	+0.285%	$30.4M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2461	+0.285%	$65.9M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2461	+0.285%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2463	+0.363%	$101K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	−0.188%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	−0.166%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	−0.191%	$296K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2450	−0.163%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2461	+0.297%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	+0.285%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2462	+0.329%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2461	+0.284%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2462	+0.306%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2462	+0.321%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2461	+0.285%	$48.0M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2463	+0.351%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2462	+0.331%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2454	+0.004%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	−0.041%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2461	+0.295%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−0.367%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2461	+0.272%	$122K	—	100x	as long as short