Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.004%

Price spread now: SunX against Deribit+0.033%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5,576as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5,582as in the Price arb table

costs, in and out, $10k−$5,58555.854% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 3 days (all we have)−0.106%−$11 · spread now +0.033%, 7d avg −0.002%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and SunX is 0.035% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ADA_USDC-PERPETUAL	0.2448	0	get 0.0000% / 1h	34m 46s	$475K	$354K	50x
Short	SunX ADA-USDT	0.2449	0.0100	get 0.0100% / 8h	2h 34m	$9K	$759K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.033%Rate

Funding earned: $21
Price spread: +0.033% → −0.002%: $3.45
Slippage, 4 orders: −$5,570.35
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$5,560.9
Costs to cover: 55.854%
Break-even: 1860.6 days

Slippage from Deribit: live order book, 54 min ago; SunX: live order book, 47 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, 54 min ago	24.09 bp	5502.8 bp −$5,503	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 47 min ago	20.80 bp	28.3 bp −$28	doesn't fit	doesn't fit	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	0.2446	−0.084%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2447	−0.049%	$153K	$5.9M	3.2x	as long as short
Deribit ADA_USDC-PERPETUALlong	0.0000%	1h	0.2448	long leg	$475K	$354K	50x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2447	−0.059%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2447	−0.049%	$407K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2449	+0.020%	$2.4M	$1.3M	10x	as long as short
Gate ADA_USDT	+0.0099%	8h	0.2448	−0.008%	$96.8M	$57.5M	75x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	+0.086%	$42.5M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2449	+0.036%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	−0.056%	$156K	$147K	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	0.2449	+0.046%	$101.0M	$355.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2450	+0.074%	$70.6M	$99.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	+0.033%	$31.8M	$105.1M	50x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2448	−0.008%	$52.4M	$56.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2449	+0.025%	$30.3M	$18.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2449	+0.033%	$65.6M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2449	+0.033%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	+0.065%	$101K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2445	−0.114%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2442	−0.242%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	−0.009%	$299K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2450	+0.074%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2447	−0.029%	$97K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2447	−0.049%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	−0.012%	$40K	$3K	5x	as long as short
SunX ADA-USDTshort	+0.0100%	8h	0.2449	+0.033%	$9K	$759K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.049%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2448	−0.013%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2447	−0.049%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2448	−0.025%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	+0.042%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2445	−0.127%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2449	+0.033%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2447	−0.036%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2447	−0.056%	$6.1M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0437% / S −0.0207%	1h	0.2447	−0.051%	$96K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.335%	$838	$131K	12x	as long as short