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: OKX against Coinbase International0.000%55s7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as 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−$380.385% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 3 days (all we have)−0.012%−$1 · spread now 0.000%, 7d avg +0.028%

Together, before fees+0.068%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.028% cheaper against Coinbase International than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.028%). If the spread goes back, that is −$3 on $10k: about 2.1 days of funding at the current rate (+$1 a day). The two prices were read 55 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	0.2441	0.0056	pay 0.0007% / 1h	27m 20s	$402K	$7.3M	50x
Short	OKX ADA-USDT-SWAP	0.2441	0.0100	get 0.0100% / 8h	27m 20s	$32.2M	$106.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $9.24
Price spread: 0.000% → +0.028%: −$2.83
Slippage, 4 orders: −$18.48
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$32.07
Costs to cover: 0.385%
Break-even: 31.3 days

Slippage from Coinbase International: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	2.05 bp	11.8 bp −$12	20.1 bp −$201	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	2.05 bp	9.1 bp −$9	13.9 bp −$139	42.9 bp −$4,288	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	0.2438	−0.124%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2444	+0.123%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2440	−0.059%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0056%	1h	0.2441	long leg	$402K	$7.3M	50x
Lighter ADA	+0.0096%	1h	0.2440	−0.041%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2440	−0.041%	$42.2M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2439	−0.082%	$1.2M	$928K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2439	−0.088%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2441	−0.009%	$101.5M	$363.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2440	−0.041%	$71.0M	$103.3M	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-SWAPshort	+0.0100%	8h	0.2441	0.000%	$32.2M	$106.6M	50x
Gate ADA_USDT	+0.0100%	8h	0.2439	−0.082%	$96.8M	$59.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2439	−0.082%	$52.3M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2439	−0.082%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2440	−0.041%	$65.5M	$43.5M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2441	0.000%	—	$18.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2442	+0.041%	$108K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	+0.337%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2442	+0.042%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	+0.329%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2442	+0.041%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2439	−0.086%	$92K	$634K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2440	−0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2441	−0.013%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2440	−0.043%	$9K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2442	+0.020%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2442	+0.041%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2442	+0.041%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2439	−0.078%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2438	−0.121%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2442	+0.027%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2442	+0.061%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2444	+0.123%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.229%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2439	−0.076%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2440	−0.041%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4746%	1h	0.2501	+2.474%	$503K	$430K	50x	as long as short