Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0223%/8h= −24.4% APRpaid last 24h −0.003%

Price spread now: Bitget against Deribit−0.037%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.367% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 3 days (all we have)−0.083%−$8 · spread now −0.037%, 7d avg −0.045%

Together, before fees−0.057%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.045%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.026% in total (about 1.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ADA_USDC-PERPETUAL	0.2444	0.0323	pay 0.0040% / 1h	44m 14s	$493K	$431K	50x
Short	Bitget ADAUSDT	0.2443	0.0100	get 0.0100% / 8h	7h 44m	$65.7M	$43.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$46.83
Price spread: −0.037% → −0.045%: $0.79
Slippage, 4 orders: −$17.71
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$82.76
Costs to cover: 0.367%
Break-even: never at this rate

Slippage from Deribit: live order book, 30 min ago; Bitget: live order book, 5 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, 30 min ago	2.46 bp	10.0 bp −$10	16.0 bp −$160	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.05 bp	8.0 bp −$8	12.0 bp −$120	28.8 bp −$2,883	97.7 bp −$48.9K

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	0.2447	+0.121%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2447	+0.127%	$194K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2444	−0.014%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.109%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2443	−0.037%	$407K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0048%	1h	0.2443	−0.038%	$6.1M	$11.7M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2445	+0.045%	$2.4M	$1.1M	10x	as long as short
Phoenix ADA	+0.0098%	1h	0.2445	+0.049%	$4K	$84K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2445	+0.041%	$42.5M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2445	+0.046%	$1.2M	$939K	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ADA	+0.0100%	1h	0.2447	+0.135%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2444	0.000%	$101.1M	$364.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2444	+0.004%	$71.4M	$103.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2444	+0.004%	$32.3M	$106.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2444	+0.004%	$97.5M	$58.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2443	−0.037%	$52.3M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	+0.057%	$30.0M	$17.9M	75x	as long as short
Bitget ADAUSDTshort	+0.0100%	8h	0.2443	−0.037%	$65.7M	$43.8M	75x
BingX ADA-USDC	+0.0100%	8h	0.2445	+0.045%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	+0.176%	$107K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2442	−0.073%	$4.2M	$944K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2446	+0.084%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2446	+0.087%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2443	−0.037%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2445	+0.025%	$93K	$644K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2443	−0.037%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2443	−0.022%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2449	+0.209%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2443	−0.033%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	+0.104%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2442	−0.078%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2446	+0.105%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2442	−0.058%	$550K	$1.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2449	+0.209%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2443	−0.035%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUALlong	+0.0323%	1h	0.2444	long leg	$493K	$431K	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0622% / S −0.0393%	1h	0.2442	−0.063%	$141K	—	100x	as long as short