Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0016%/8h= −1.7% APRpaid last 24h +0.006%

Price spread now: Paradex against Coinbase International+0.115%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.115% dearer against Coinbase International than usual: you sell high and buy low (spread +0.115% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2444	0.0120	pay 0.0015% / 1h	59m 08s	$377K	$8.6M	50x
Short	Paradex ADA-USD-PERP	0.2447	0.0104	get 0.0104% / 8h	1h 59m	$21K	$250	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$3.34
Price spread: +0.115% → 0.000%: $11.53
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$5.81
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 5 min ago; Paradex: no order-book sample. Net counts fees only.

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, 5 min ago	4.09 bp	12.6 bp −$13	20.1 bp −$201	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kalshi KXADAPERP	0.0000%	8h	0.2445	+0.041%	$187K	$7.6M	3.2x	as long as short
dYdX ADA-USD	+0.0001%	1h	0.2444	−0.020%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2443	−0.031%	$84K	—	150x	as long as short
Phoenix ADA	+0.0032%	1h	0.2450	+0.241%	$4K	$104K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.105%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2445	+0.041%	$6K	$6K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2446	+0.082%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2446	+0.086%	$157K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2445	+0.061%	$102.9M	$410.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2445	+0.041%	$72.2M	$124.6M	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	0.2446	+0.082%	$32.5M	$118.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2443	−0.041%	$99.8M	$63.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2445	+0.041%	$52.0M	$64.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	+0.045%	$29.3M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2446	+0.082%	$66.5M	$53.5M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2446	+0.082%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	+0.094%	$137K	$484K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	+0.166%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2449	+0.195%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	+0.165%	$288K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2450	+0.245%	$82K	$889K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2444	−0.004%	$126K	$1.1M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2446	+0.062%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2447	+0.119%	$8K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	+0.045%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2445	+0.047%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2445	+0.041%	$47.4M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2444	+0.012%	$524K	$1.8M	50x	as long as short
Paradex ADA-USD-PERPshort	+0.0104%	8h	0.2447	+0.115%	$21K	$250	20x
Lighter ADA	+0.0120%	1h	0.2447	+0.110%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0120%	1h	0.2444	long leg	$377K	$8.6M	50x
Kraken Futures PF_ADAUSD	+0.0170%	1h	0.2445	+0.039%	$6.3M	$13.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	+0.123%	$4.4M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0259%	1h	0.2447	+0.118%	$43.0M	$18.2M	10x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2444	0.000%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0568%	1h	0.2446	+0.094%	$622K	$613K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2444	−0.005%	$164K	—	100x	as long as short