Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h −0.011%

Price spread now: Phoenix against edgeX+0.115%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.308%−$31 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.115% dearer against edgeX than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.308%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ADAUSDC	0.2456	0.0100	pay 0.0050% / 4h	1h 17m	$65K	$280K	20x
Short	Phoenix ADA	0.2459	0.0131	get 0.0016% / 1h	17m 24s	$4K	$74K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against edgeX. 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 edgeXbpFee PhoenixbpOrdersPrice spread, now +0.115%Rate

Funding earned: $6.46
Price spread: +0.115% → 0.000%: $11.48
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $1.93
Costs to cover: 0.160%
Break-even: 4.9 days

Slippage unknown: edgeX: live order book, just now; 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 edgeX live order book, just now	6.10 bp	10.6 bp −$11	25.0 bp −$250	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	0.2458	+0.102%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2459	+0.135%	$154K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2459	+0.117%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2459	+0.135%	$410K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2459	+0.137%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2461	+0.217%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2460	+0.155%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2460	+0.161%	$1.2M	$920K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2459	+0.136%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2459	+0.138%	$102.1M	$360.1M	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	−0.028%	$71.4M	$102.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2456	+0.013%	$31.9M	$105.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2458	+0.094%	$97.1M	$59.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2458	+0.094%	$53.5M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2459	+0.135%	$30.2M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2456	+0.013%	$65.8M	$43.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2459	+0.135%	—	$18.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2460	+0.155%	$101K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	−0.101%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDClong	+0.0100%	4h	0.2456	long leg	$65K	$280K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2456	−0.006%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	−0.028%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2459	+0.139%	$96K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.013%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2457	+0.048%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2460	+0.179%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2459	+0.151%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2460	+0.167%	$1.3M	$5.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	+0.094%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2460	+0.159%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	−0.027%	$554K	$1.8M	50x	as long as short
Phoenix ADAshort	+0.0131%	1h	0.2459	+0.115%	$4K	$74K	10x
Deribit ADA_USDC-PERPETUAL	+0.0197%	1h	0.2460	+0.188%	$480K	$351K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2454	−0.068%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2459	+0.139%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.624%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2458	+0.094%	$122K	—	100x	as long as short