ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0479%/8h= −52.5% APRnext payment −$0.60 per $10,000 · paid last 24h −0.019%

Price spread now: dYdX against Deribit−0.090%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$274as in the Funding arb table

Net, price: spread back to 7d avg − costs−$269as in the Price arb table

costs, in and out, $10k−$2642.643% of the position

Long on Deribit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 3 days (all we have)−0.121%−$12 · spread now −0.090%, 7d avg −0.048%

Together, before fees−0.215%−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and dYdX is 0.042% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.048%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.094% in total (about -4.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.60 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	0.2469	0.0479	pay 0.0060% / 1h	55m 32s	$487K	$400K	50x
Short	dYdX ADA-USD	0.2467	0	get 0.0000% / 1h	55m 32s	$203K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$100.59
Price spread: −0.090% → −0.048%: −$4.19
Slippage, 4 orders: −$247.33
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$369.11
Costs to cover: 2.643%
Break-even: never at this rate

Slippage from Deribit: live order book, 23 min ago; dYdX: live order book, 23 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, 23 min ago	2.85 bp	9.6 bp −$10	16.0 bp −$160	doesn't fit	doesn't fit
Sell dYdX live order book, 23 min ago	83.35 bp	131.7 bp −$132	169.5 bp −$1,695	173.3 bp −$17.3K	182.1 bp −$91.0K

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-USDshort	0.0000%	1h	0.2467	−0.090%	$203K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2466	−0.134%	$155K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2468	−0.070%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2464	−0.215%	$414K	$7.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2469	−0.012%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2469	+0.004%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2468	−0.038%	$1.2M	$925K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2468	−0.046%	$158K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2468	−0.033%	$102.7M	$360.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2468	−0.053%	$71.9M	$102.5M	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	0.2469	−0.012%	$32.2M	$106.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2466	−0.134%	$97.5M	$59.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2467	−0.093%	$52.6M	$50.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2468	−0.045%	$30.3M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2468	−0.053%	$66.2M	$43.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2468	−0.053%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2469	+0.004%	$109K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2459	−0.410%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2464	−0.219%	$66K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2463	−0.255%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2464	−0.215%	$56K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2468	−0.040%	$96K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2468	−0.053%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2469	−0.014%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2467	−0.093%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2468	−0.053%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2469	+0.005%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2468	−0.053%	$48.2M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2468	−0.056%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2468	−0.070%	$557K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2469	−0.007%	$6.2M	$11.6M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2465	−0.190%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2466	−0.134%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.069%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2468	−0.049%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUALlong	+0.0479%	1h	0.2469	long leg	$487K	$400K	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0567% / S −0.0313%	1h	0.2467	−0.077%	$122K	—	100x	as long as short