Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0217%/8h= −23.8% APRpaid last 24h −0.084%

Price spread now: Gate against Deribit−0.138%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 4 days (all we have)+0.015%+$2 · spread now −0.138%, 7d avg −0.068%

Together, before fees−0.049%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Gate is 0.070% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.068%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.064% in total (about -3.4% 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	0.2469	0.0317	pay 0.0040% / 1h	44m 06s	$607K	$542K	50x
Short	Gate ADA_USDT	0.2466	0.0100	get 0.0100% / 8h	2h 44m	$99.7M	$62.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.138%Rate

Funding earned: −$45.57
Price spread: −0.138% → −0.068%: −$6.97
Slippage, 4 orders: −$18.25
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$92.79
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; Gate: 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, 5 min ago	4.85 bp	8.9 bp −$9	14.7 bp −$147	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.02 bp	13.3 bp −$13	18.3 bp −$183	86.0 bp −$8,599	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	0.2468	−0.071%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2468	−0.057%	$152K	$7.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2468	−0.073%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0019%	1h	0.2468	−0.067%	$6.3M	$13.3M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2470	+0.020%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.065%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2469	−0.004%	$2.4M	$987K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2469	−0.024%	$43.9M	$16.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2468	−0.057%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2469	−0.004%	$158K	$170K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2468	−0.063%	$104.1M	$393.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2467	−0.097%	$73.2M	$117.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2467	−0.097%	$33.0M	$112.5M	50x	as long as short
Gate ADA_USDTshort	+0.0100%	8h	0.2466	−0.138%	$99.7M	$62.6M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2467	−0.097%	$59.4M	$62.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2468	−0.049%	$29.7M	$15.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2468	−0.057%	$67.2M	$51.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2468	−0.057%	—	$19.9M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2467	−0.094%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2470	+0.023%	$66K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2469	−0.015%	$289K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2469	−0.016%	$229K	$760K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2469	−0.016%	$94K	$635K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2469	−0.016%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2469	−0.012%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	+0.025%	$8K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2468	−0.061%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2469	−0.031%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2467	−0.097%	$48.1M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2469	+0.004%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2468	−0.063%	$537K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2467	−0.097%	$395K	$8.3M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0140%	1h	0.2468	−0.061%	$124K	$457K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2468	−0.057%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2469	−0.016%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUALlong	+0.0317%	1h	0.2469	long leg	$607K	$542K	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0585%	1h	0.2468	−0.066%	$140K	—	100x	as long as short