Funding you earn now, next payment 05:00 UTC−0.0068%/8h= −7.4% APRnext payment −$0.08 per $10,000 · paid last 24h +0.003%
Price spread now: Phoenix against Derive+0.032%52s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+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 0.032% dearer against Derive than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 38 hours. The two prices were read 52 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 | Derive ADA-PERP | 0.2469 | 0.0100 | pay 0.0013% / 1h | 43m 23s | $40K | $2K | 5x |
| Short | Phoenix ADA | 0.2470 | 0.0032 | get 0.0004% / 1h | 43m 23s | $4K | $105K | 10x |
Derive ADA-PERP
Phoenix ADAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Derive. 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
- −$14.19
- Price spread: +0.032% → 0.000%
- $3.19
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$24
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Phoenix: live order book, 9 min ago. 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 Derive no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 9 min ago | 0.81 bp | 13.0 bp −$13 | 44.8 bp −$448 | doesn't fit | doesn't fit |
Derive: 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 | 0.2465 | −0.168% | $203K | $2K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2468 | −0.045% | $152K | $7.0M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2462 | −0.268% | $84K | — | 150x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0019% | 1h | 0.2468 | −0.055% | $6.3M | $13.3M | 50x | as long as short |
| Phoenix ADAshort | +0.0032% | 1h | 0.2470 | +0.032% | $4K | $105K | 10x | |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +0.076% | $849 | $202K | 12x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2468 | −0.041% | $2.4M | $987K | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2465 | −0.167% | $43.8M | $16.3M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2463 | −0.237% | $1.2M | $1.1M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2466 | −0.112% | $158K | $170K | 10x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Kraken Futures PF_ADAUSD
Injective ADA/USDC PERP
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADAShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ADAUSDT | +0.0100% | 8h | 0.2462 | −0.268% | $103.9M | $393.3M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2462 | −0.288% | $73.1M | $117.4M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2463 | −0.248% | $33.0M | $112.3M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2463 | −0.248% | $99.6M | $62.6M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2462 | −0.288% | $59.3M | $62.9M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2464 | −0.227% | $29.6M | $15.4M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2463 | −0.248% | $67.0M | $51.8M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2462 | −0.288% | — | $6.5M | — | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2467 | −0.083% | $4.3M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2470 | +0.034% | $66K | $286K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2471 | +0.077% | $289K | $4.0M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2470 | +0.036% | $229K | $760K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2463 | −0.239% | $94K | $635K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2469 | −0.005% | $6K | $6K | 20x | as long as short |
| Derive ADA-PERPlong | +0.0100% | 1h | 0.2469 | long leg | $40K | $2K | 5x | |
| SunX ADA-USDT | +0.0100% | 8h | 0.2470 | +0.037% | $8K | $747K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2468 | −0.049% | $339 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2469 | −0.020% | $1.3M | $6.7M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2467 | −0.086% | $48.1M | $7.0M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0101% | 8h | 0.2467 | −0.104% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2465 | −0.172% | $537K | $1.8M | 50x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0104% | 1h | 0.2467 | −0.086% | $395K | $8.3M | 50x | as long as short |
| Backpack ADA_USDC_PERP | +0.0140% | 1h | 0.2468 | −0.049% | $124K | $457K | 15x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2468 | −0.045% | $4.5M | $5.8M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0276% | 1h | 0.2463 | −0.246% | $1K | — | 15x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0317% | 1h | 0.2469 | +0.012% | $607K | $542K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0623% / S −0.0585% | 1h | 0.2461 | −0.320% | $140K | — | 100x | as long as short |
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Coinbase International ADA-PERP-INTX
Backpack ADA_USDC_PERP
BloFin ADA-USDT
Reya ADARUSDPERP
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]