Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.024%

Price spread now: KuCoin against dYdX+0.002%47s7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$237as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2462.460% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.002%, 7d avg +0.014%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 47 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	dYdX ADA-USD	0.2435	0.0069	pay 0.0009% / 1h	33m 56s	$200K	$2K	10x
Short	KuCoin ADAUSDTM	0.2435	0.0100	get 0.0100% / 8h	1h 33m	$29.4M	$15.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.002%Rate

Funding earned: $6.52
Price spread: +0.002% → +0.014%: −$1.24
Slippage, 4 orders: −$223.96
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$240.68
Costs to cover: 2.460%
Break-even: 265.5 days

Slippage from dYdX: live order book, 10 min ago; KuCoin: live order book, 5 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, 10 min ago	104.36 bp	109.4 bp −$109	127.8 bp −$1,278	154.7 bp −$15.5K	398.5 bp −$199.2K
Sell KuCoin live order book, 5 min ago	1.03 bp	12.6 bp −$13	19.5 bp −$195	58.2 bp −$5,822	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	0.2436	+0.022%	$200K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2433	−0.082%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.459%	$849	$202K	12x	as long as short
dYdX ADA-USDlong	+0.0069%	1h	0.2435	long leg	$200K	$2K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2433	−0.101%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2436	+0.022%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2436	+0.010%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2437	+0.048%	$102.5M	$409.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2435	−0.019%	$72.1M	$124.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2437	+0.063%	$32.4M	$117.7M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2435	−0.019%	$99.6M	$64.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2436	+0.022%	$51.8M	$64.8M	300x	as long as short
KuCoin ADAUSDTMshort	+0.0100%	8h	0.2435	+0.002%	$29.4M	$15.9M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2435	−0.019%	$66.2M	$53.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2435	−0.019%	—	$6.6M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2435	−0.016%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2440	+0.169%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	+0.148%	$291K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2441	+0.227%	$81K	$891K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2433	−0.101%	$128K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2436	+0.034%	$39K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2435	−0.019%	$8K	$762K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2434	−0.039%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2435	−0.027%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2435	−0.019%	$47.2M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2434	−0.042%	$512K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2435	−0.003%	$20K	$250	20x	as long as short
Lighter ADA	+0.0112%	1h	0.2437	+0.055%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2439	+0.145%	$381K	$8.6M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0138%	1h	0.2437	+0.047%	$138K	$483K	15x	as long as short
Phoenix ADA	+0.0163%	1h	0.2440	+0.207%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2435	−0.032%	$6.3M	$13.9M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2438	+0.104%	$4.4M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0264%	1h	0.2438	+0.112%	$42.8M	$18.1M	10x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2434	−0.080%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0531%	1h	0.2435	−0.015%	$622K	$617K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2435	−0.021%	$163K	—	100x	as long as short