Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h +0.004%

Price spread now: Aster against Deribit+0.085%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 3 days (all we have)−0.257%−$26 · spread now +0.085%, 7d avg −0.018%

Together, before fees−0.196%+ Points / potential airdropAster: Stage 5 · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.103% dearer against Deribit than usual: you sell high and buy low (spread +0.085% now, against its 7-day average of −0.018%): +$10 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 46 hours. Mind the row above: over the last 7 days funding on this pair paid +0.061%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ADA_USDC-PERPETUAL	0.2462	0.0278	pay 0.0035% / 1h	0m 50s	$480K	$395K	50x
Short	Aster ADAUSDT	0.2464	0.0100	get 0.0100% / 8h	1h 00m	$1.2M	$924K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$37.38
Price spread: +0.085% → −0.018%: $10.32
Slippage, 4 orders: −$22.35
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$64.41
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Deribit: live order book, 18 min ago; Aster: 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 Deribit live order book, 18 min ago	2.85 bp	9.6 bp −$10	16.0 bp −$160	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	4.06 bp	8.4 bp −$8	20.9 bp −$209	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	−0.070%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2461	−0.037%	$164K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2461	−0.054%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2459	−0.118%	$414K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2461	−0.031%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2463	+0.037%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2464	+0.081%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDTshort	+0.0100%	8h	0.2464	+0.085%	$1.2M	$924K	75x
Pacifica ADA	+0.0100%	1h	0.2460	−0.065%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2464	+0.092%	$102.4M	$360.8M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2463	+0.045%	$71.7M	$102.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2464	+0.085%	$32.0M	$106.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2463	+0.045%	$97.5M	$59.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2463	+0.045%	$53.0M	$51.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2463	+0.061%	$30.2M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2464	+0.085%	$66.1M	$43.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2463	+0.045%	—	$18.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2465	+0.106%	$109K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2457	−0.192%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2461	−0.039%	$66K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	−0.162%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2460	−0.077%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	−0.093%	$96K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	−0.037%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2462	−0.008%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2461	−0.036%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2461	−0.037%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2461	−0.035%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2462	+0.004%	$48.0M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2461	−0.052%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2463	+0.025%	$557K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2462	+0.004%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2462	+0.004%	$4.4M	$5.4M	75x	as long as short
Deribit ADA_USDC-PERPETUALlong	+0.0278%	1h	0.2462	long leg	$480K	$395K	50x
Reya ADARUSDPERP	+0.0285%	1h	0.2460	−0.074%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.370%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0567% / S −0.0313%	1h	0.2461	−0.055%	$122K	—	100x	as long as short