ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0517%/8h= −56.6% APRnext payment −$0.65 per $10,000 · paid last 24h −0.013%

Price spread now: Coinbase International against Deribit−0.122%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.122%, 7d avg −0.060%

Together, before fees−0.079%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Coinbase International is 0.063% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.060%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.098% in total (about -5.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.65 per $10,000. 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	0.2457	0.0565	pay 0.0071% / 1h	7m 35s	$502K	$471K	50x
Short	Coinbase International ADA-PERP-INTX	0.2454	0.0048	get 0.0006% / 1h	7m 35s	$402K	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.122%Rate

Funding earned: −$108.57
Price spread: −0.122% → −0.060%: −$6.26
Slippage, 4 orders: −$16.39
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$148.21
Costs to cover: 0.334%
Break-even: never at this rate

Slippage from Deribit: live order book, 61 min ago; Coinbase International: live order book, 1 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, 61 min ago	2.62 bp	6.4 bp −$6	13.0 bp −$130	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	4.09 bp	11.4 bp −$11	16.7 bp −$167	123.2 bp −$12.3K	doesn't fit

ADA on 36 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	0.2454	−0.102%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.105%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.570%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0048%	1h	0.2454	−0.122%	$402K	$7.4M	50x
Hyperliquid ADA	+0.0100%	1h	0.2457	−0.012%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	−0.077%	$1.2M	$977K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	−0.100%	$158K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	−0.081%	$103.0M	$370.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	−0.122%	$72.3M	$108.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2454	−0.122%	$32.7M	$106.7M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2454	−0.122%	$98.2M	$60.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	−0.122%	$59.0M	$52.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	−0.114%	$29.9M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	−0.122%	$65.9M	$47.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2454	−0.122%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2457	−0.020%	$127K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	−0.079%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	−0.041%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	−0.104%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	−0.122%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	−0.175%	$93K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2455	−0.081%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	−0.032%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	−0.289%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2456	−0.033%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	−0.031%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2455	−0.081%	$47.8M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	−0.104%	$532K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0107%	8h	0.2455	−0.081%	$149K	$6.3M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2454	−0.102%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	−0.045%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0192%	1h	0.2457	+0.008%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2452	−0.184%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2455	−0.096%	$6.2M	$12.2M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2454	−0.118%	$95K	—	100x	as long as short
Deribit ADA_USDC-PERPETUALlong	+0.0565%	1h	0.2457	long leg	$502K	$471K	50x