Funding you earn now, next payment 04:00 UTC−0.0684%/8h= −74.9% APRnext payment −$0.85 per $10,000 · paid last 24h −0.070%
Price spread now: Injective against Deribit−0.503%63s7-day average −0.319% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.090%−$9 on $10k
+Price spread, last 4 days (all we have)−0.067%−$7 · spread now −0.503%, 7d avg −0.319%
=Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Injective is 0.184% cheaper against Deribit than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.319%). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.090% in total (about -4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.85 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 | 0.2483 | 0.0717 | pay 0.0090% / 1h | 30m 17s | $603K | $489K | 50x |
| Short | Injective ADA/USDC PERP | 0.2471 | 0.0033 | get 0.0004% / 1h | 30m 17s | $849 | $202K | 12x |
Deribit ADA_USDC-PERPETUAL
Injective ADA/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$143.57
- Price spread: −0.503% → −0.319%
- −$18.45
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$169.04
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Deribit: live order book, 29 min ago; Injective: no order-book sample. Net counts fees only.
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, 29 min ago | 2.64 bp | 6.1 bp −$6 | 12.6 bp −$126 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 0.2480 | −0.159% | $204K | $2K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2480 | −0.141% | $150K | $6.2M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2478 | −0.207% | $85K | — | 150x | as long as short |
| Injective ADA/USDC PERPshort | +0.0033% | 1h | 0.2471 | −0.503% | $849 | $202K | 12x | |
| Coinbase International ADA-PERP-INTX | +0.0080% | 1h | 0.2480 | −0.141% | $429K | $7.8M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0091% | 1h | 0.2482 | −0.051% | $6.3M | $12.8M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2482 | −0.064% | $2.4M | $1.1M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2481 | −0.095% | $1.2M | $985K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2481 | −0.103% | $161K | $162K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2481 | −0.117% | $105.1M | $370.0M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Kraken Futures PF_ADAUSD
Lighter ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2480 | −0.141% | $72.3M | $108.8M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2483 | −0.020% | $33.1M | $105.9M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2479 | −0.181% | $99.0M | $59.3M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2479 | −0.181% | $61.5M | $60.1M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2480 | −0.149% | $29.9M | $15.0M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2481 | −0.101% | $66.7M | $49.3M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2479 | −0.181% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2480 | −0.145% | $125K | $441K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2475 | −0.340% | $4.3M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2456 | −1.105% | $65K | $284K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2456 | −1.088% | $289K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2466 | −0.705% | $227K | $743K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2480 | −0.157% | $95K | $688K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2481 | −0.101% | $6K | $5K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2482 | −0.053% | $40K | $2K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2481 | −0.101% | $8K | $732K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2482 | −0.040% | $341 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2477 | −0.252% | $1.3M | $6.4M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2478 | −0.221% | $48.3M | $6.6M | 50x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2481 | −0.087% | $536K | $1.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0109% | 8h | 0.2483 | −0.021% | $21K | $250 | 20x | as long as short |
| Hyperliquid ADA | +0.0185% | 1h | 0.2481 | −0.097% | $43.1M | $14.8M | 10x | as long as short |
| Phoenix ADA | +0.0195% | 1h | 0.2463 | −0.834% | $4K | $100K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2480 | −0.141% | $4.5M | $5.8M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0278% | 1h | 0.2479 | −0.181% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0596% / S −0.0547% | 1h | 0.2479 | −0.187% | $134K | — | 100x | as long as short |
| Deribit ADA_USDC-PERPETUALlong | +0.0717% | 1h | 0.2483 | long leg | $603K | $489K | 50x |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Extended ADA-USD
Paradex ADA-USD-PERP
Hyperliquid ADA
Phoenix ADA
BloFin ADA-USDT
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]