ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.023%

Price spread now: Backpack against dYdX+0.017%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$169as in the Price arb table

costs, in and out, $10k−$1711.707% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now +0.017%, 7d avg +0.004%

Together, before fees−0.041%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2456	0	get 0.0000% / 1h	17m 01s	$202K	$4K	10x
Short	Backpack ADA_USDC_PERP	0.2457	0.0100	get 0.0013% / 1h	17m 01s	$101K	$409K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now +0.017%Rate

Funding earned: $21
Price spread: +0.017% → +0.004%: $1.32
Slippage, 4 orders: −$150.66
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$148.34
Costs to cover: 1.707%
Break-even: 56.4 days

Slippage from dYdX: live order book, 7 min ago; Backpack: live order book, 7 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 dYdX live order book, 7 min ago	73.35 bp	78.3 bp −$78	133.7 bp −$1,337	142.6 bp −$14.3K	145.7 bp −$72.9K
Sell Backpack live order book, 7 min ago	0.20 bp	5.2 bp −$5	8.0 bp −$80	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-USDlong	0.0000%	1h	0.2456	long leg	$202K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2458	+0.074%	$153K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2459	+0.098%	$477K	$353K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2457	+0.047%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2459	+0.115%	$408K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2458	+0.066%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.009%	$42.6M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2457	+0.030%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2458	+0.063%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	−0.009%	$101.5M	$355.5M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2455	−0.048%	$70.7M	$100.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	−0.048%	$31.9M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	−0.089%	$96.9M	$58.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	−0.007%	$52.9M	$56.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2457	+0.029%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	−0.048%	$65.7M	$42.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	−0.048%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERPshort	+0.0100%	1h	0.2457	+0.017%	$101K	$409K	15x
Variational Omni ADA	+0.0100%	8h	0.2460	+0.170%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2463	+0.280%	$66K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2463	+0.268%	$290K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2462	+0.237%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2458	+0.074%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2457	+0.033%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2458	+0.083%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	+0.115%	$9K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	+0.021%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2460	+0.161%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2456	−0.007%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2460	+0.153%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2456	+0.001%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2464	+0.314%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.033%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2458	+0.065%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2457	+0.019%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2457	+0.048%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.659%	$838	$131K	12x	as long as short