ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0636%/8h= −69.7% APRnext payment −$0.80 per $10,000 · paid last 24h −0.065%

Price spread now: Kraken Futures against Deribit−0.068%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$430.433% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now −0.068%, 7d avg −0.025%

Together, before fees+0.064%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Kraken Futures is 0.043% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.050% in total (about -2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.80 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	0.2430	0.0656	pay 0.0082% / 1h	20m 29s	$605K	$597K	50x
Short	Kraken Futures PF_ADAUSD	0.2428	0.0020	get 0.0002% / 1h	20m 29s	$6.2M	$13.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$133.61
Price spread: −0.068% → −0.025%: −$4.35
Slippage, 4 orders: −$26.34
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$181.3
Costs to cover: 0.433%
Break-even: never at this rate

Slippage from Deribit: live order book, 28 min ago; Kraken Futures: live order book, 4 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, 28 min ago	4.85 bp	8.9 bp −$9	14.7 bp −$147	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	0.21 bp	14.5 bp −$15	16.7 bp −$167	58.0 bp −$5,799	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
Kalshi KXADAPERP	0.0000%	8h	0.2431	+0.058%	$202K	$7.5M	3.2x	as long as short
dYdX ADA-USD	+0.0002%	1h	0.2435	+0.220%	$200K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2436	+0.278%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0020%	1h	0.2428	−0.068%	$6.2M	$13.7M	50x
Phoenix ADA	+0.0032%	1h	0.2429	−0.004%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.704%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2437	+0.325%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2438	+0.358%	$42.0M	$17.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2437	+0.305%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2436	+0.267%	$156K	$176K	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	0.2438	+0.346%	$102.5M	$407.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2437	+0.305%	$71.5M	$123.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2439	+0.387%	$32.4M	$117.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2436	+0.263%	$99.1M	$64.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2437	+0.305%	$52.3M	$65.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2436	+0.268%	$29.2M	$15.7M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2437	+0.305%	$66.2M	$53.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2437	+0.305%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2430	+0.004%	$126K	$476K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2427	−0.104%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2420	−0.397%	$64K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2419	−0.439%	$284K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2420	−0.395%	$84K	$887K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2435	+0.239%	$130K	$972K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2438	+0.346%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2428	−0.062%	$39K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2429	−0.027%	$8K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2429	−0.045%	$334	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2427	−0.107%	$1.3M	$6.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2428	−0.066%	$47.1M	$7.4M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2438	+0.335%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2436	+0.276%	$522K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2428	−0.066%	$377K	$8.4M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2431	+0.058%	$4.4M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2437	+0.284%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0639% / S −0.0714%	1h	0.2437	+0.289%	$161K	—	100x	as long as short
Deribit ADA_USDC-PERPETUALlong	+0.0656%	1h	0.2430	long leg	$605K	$597K	50x