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 +0.011%

Price spread now: KuCoin against Coinbase International−0.097%51s7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.488% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 3 days (all we have)+0.037%+$4 · spread now −0.097%, 7d avg +0.021%

Together, before fees+0.114%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.119% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.097% now, against its 7-day average of +0.021%). If the spread goes back, that is −$12 on $10k: about 11 days of funding at the current rate (+$1 a day). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2467	0.0064	pay 0.0008% / 1h	35m 20s	$418K	$7.3M	50x
Short	KuCoin ADAUSDTM	0.2465	0.0100	get 0.0100% / 8h	1h 35m	$30.4M	$18.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.097%Rate

Funding earned: $7.56
Price spread: −0.097% → +0.021%: −$11.85
Slippage, 4 orders: −$26.84
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$53.13
Costs to cover: 0.488%
Break-even: 56.2 days

Slippage from Coinbase International: live order book, 4 min ago; KuCoin: live order book, 4 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, 4 min ago	4.05 bp	10.9 bp −$11	17.6 bp −$176	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.22 bp	10.1 bp −$10	17.1 bp −$171	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	0.2460	−0.297%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2462	−0.203%	$159K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2464	−0.138%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0064%	1h	0.2467	long leg	$418K	$7.3M	50x
Deribit ADA_USDC-PERPETUAL	+0.0075%	1h	0.2462	−0.211%	$478K	$351K	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2460	−0.286%	$6.2M	$11.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2463	−0.150%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2465	−0.073%	$42.7M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2464	−0.122%	$1.2M	$920K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2462	−0.200%	$157K	$146K	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	0.2465	−0.081%	$102.3M	$357.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2464	−0.122%	$71.7M	$100.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2465	−0.081%	$31.9M	$105.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2463	−0.162%	$97.3M	$58.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2465	−0.081%	$53.8M	$50.5M	300x	as long as short
KuCoin ADAUSDTMshort	+0.0100%	8h	0.2465	−0.097%	$30.4M	$18.2M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2464	−0.122%	$65.9M	$43.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2465	−0.081%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2460	−0.276%	$103K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2463	−0.153%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2468	+0.060%	$66K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2467	+0.001%	$298K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2474	+0.284%	$56K	$580K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2464	−0.122%	$97K	$623K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2464	−0.122%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2464	−0.102%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2463	−0.162%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2460	−0.263%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2461	−0.248%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2460	−0.284%	$48.0M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2462	−0.183%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2463	−0.148%	$558K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2464	−0.122%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2466	−0.041%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2465	−0.076%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.162%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0567% / S −0.0313%	1h	0.2463	−0.146%	$122K	—	100x	as long as short