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: SunX against Coinbase International+0.329%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$750.754% of the position

Long on Coinbase International Short on SunX

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)−0.302%−$30 · spread now +0.329%, 7d avg +0.053%

Together, before fees−0.125%−$12 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 SunX is 0.276% dearer against Coinbase International than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.053%.

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	7m 23s	$404K	$7.3M	50x
Short	SunX ADA-USDT	0.2449	0.0100	get 0.0100% / 8h	7m 23s	$9K	$768K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.329%Rate

Funding earned: $9.24
Price spread: +0.329% → +0.053%: $27.59
Slippage, 4 orders: −$57.43
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$38.6
Costs to cover: 0.754%
Break-even: 36.2 days

Slippage from Coinbase International: live order book, 2 min ago; SunX: live order book, 54 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	4.09 bp	13.0 bp −$13	19.1 bp −$191	doesn't fit	doesn't fit
Sell SunX live order book, 54 min ago	20.78 bp	27.2 bp −$27	34.5 bp −$345	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	0.2446	+0.218%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2448	+0.287%	$213K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	+0.146%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0056%	1h	0.2441	long leg	$404K	$7.3M	50x
Lighter ADA	+0.0096%	1h	0.2447	+0.262%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2445	+0.168%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2444	+0.132%	$1.2M	$931K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	+0.246%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2444	+0.139%	$101.0M	$366.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2444	+0.123%	$71.1M	$104.0M	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	+0.205%	$32.3M	$107.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2443	+0.082%	$97.5M	$60.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2444	+0.123%	$52.3M	$51.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2444	+0.123%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2444	+0.123%	$65.7M	$43.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2444	+0.123%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2449	+0.336%	$106K	$417K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2439	−0.076%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2446	+0.192%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	+0.124%	$290K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2445	+0.164%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2443	+0.078%	$94K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2444	+0.123%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2449	+0.315%	$40K	$3K	5x	as long as short
SunX ADA-USDTshort	+0.0100%	8h	0.2449	+0.329%	$9K	$768K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2448	+0.303%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2449	+0.322%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2447	+0.246%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2447	+0.230%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2444	+0.124%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2448	+0.294%	$6.2M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2446	+0.188%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2445	+0.164%	$4.3M	$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	+0.0283%	1h	0.2444	+0.126%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2444	+0.125%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.7798%	1h	0.2468	+1.090%	$495K	$430K	50x	as long as short