Funding you earn now, next payment 02:00 UTC−0.0274%/8h= −30.0% APRnext payment −$0.34 per $10,000 · paid last 24h −0.070%
Price spread now: Phoenix against Deribit+0.319%50s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.275%−$27 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Phoenix is 0.319% dearer against Deribit than usual: you sell high and buy low (spread +0.319% now, against zero (this spread has no 7-day history yet)): +$32 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 3.9 days. At the pace of the last 7 days (−0.275% in total) that is about 8.1 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ADA_USDC-PERPETUAL | 0.2478 | 0.0437 | pay 0.0055% / 1h | 17m 30s | $585K | $442K | 50x |
| Short | Phoenix ADA | 0.2486 | 0.0163 | get 0.0020% / 1h | 17m 30s | $4K | $90K | 10x |
Deribit ADA_USDC-PERPETUAL
Phoenix ADAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$57.59
- Price spread: +0.319% → 0.000%
- $31.88
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$39.71
- Costs to cover
- 0.140%
- Break-even
- from the start
Slippage unknown: Deribit: live order book, 46 min ago; Phoenix: 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, 46 min ago | 1.63 bp | 5.1 bp −$5 | 12.5 bp −$125 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 | 0.2481 | +0.106% | $204K | $3K | 10x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2479 | +0.060% | $85K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | −0.278% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2482 | +0.165% | $415K | $7.7M | 50x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2479 | +0.039% | $1.2M | $999K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2481 | +0.128% | $159K | $162K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2481 | +0.125% | $105.5M | $371.6M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2480 | +0.085% | $72.4M | $110.5M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2482 | +0.165% | $33.0M | $107.0M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2480 | +0.085% | $99.7M | $60.4M | 75x | as long as short |
dYdX ADA-USD
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTX
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ADA_USDT | +0.0100% | 8h | 0.2481 | +0.125% | $59.2M | $60.4M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2481 | +0.117% | $29.9M | $16.1M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2481 | +0.125% | $66.6M | $49.4M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2481 | +0.125% | — | $6.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2479 | +0.036% | $139K | $433K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2495 | +0.692% | $4.3M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2487 | +0.348% | $66K | $284K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2486 | +0.316% | $294K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2496 | +0.730% | $230K | $736K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2480 | +0.105% | $95K | $678K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2477 | −0.036% | $6K | $6K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2478 | +0.003% | $40K | $2K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2481 | +0.125% | $8K | $746K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2477 | −0.016% | $341 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2479 | +0.048% | $1.3M | $6.2M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2479 | +0.044% | $48.3M | $6.5M | 50x | as long as short |
| Kalshi KXADAPERP | +0.0103% | 8h | 0.2484 | +0.246% | $160K | $6.3M | 3.2x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2480 | +0.099% | $539K | $1.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0110% | 8h | 0.2481 | +0.112% | $21K | $250 | 20x | as long as short |
| Hyperliquid ADA | +0.0135% | 1h | 0.2483 | +0.202% | $43.2M | $14.4M | 10x | as long as short |
| Phoenix ADAshort | +0.0163% | 1h | 0.2486 | +0.319% | $4K | $90K | 10x | |
| Lighter ADA | +0.0184% | 1h | 0.2483 | +0.194% | $2.5M | $1.1M | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2485 | +0.287% | $4.5M | $5.8M | 75x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0259% | 1h | 0.2478 | −0.009% | $6.3M | $12.6M | 50x | as long as short |
| Reya ADARUSDPERP | +0.0280% | 1h | 0.2480 | +0.104% | $1K | — | 15x | as long as short |
| Deribit ADA_USDC-PERPETUALlong | +0.0437% | 1h | 0.2478 | long leg | $585K | $442K | 50x | |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0486% / S −0.0279% | 1h | 0.2476 | −0.091% | $108K | — | 100x | as long as short |
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
Kalshi KXADAPERP
Extended ADA-USD
Paradex ADA-USD-PERP
Hyperliquid ADA
Lighter ADA
BloFin ADA-USDT
Kraken Futures PF_ADAUSD
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]