Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0185%/8h= +20.3% APRpaid last 24h +0.060%

Price spread now: Reya against edgeX−0.288%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Reya is 0.288% cheaper against edgeX than usual: you would sell low and buy high (spread −0.288% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$29 on $10k: about 5.2 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ADAUSDC	0.2472	0.0100	pay 0.0050% / 4h	1h 37m	$66K	$279K	20x
Short	Reya ADARUSDPERP	0.2465	0.0285	get 0.0036% / 1h	37m 04s	$1K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.288%Rate

Funding earned: $38.93
Price spread: −0.288% → 0.000%: −$28.8
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$4.87
Costs to cover: 0.150%
Break-even: 7.9 days

Slippage unknown: edgeX: live order book, 46 min ago; Reya: 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, 46 min ago	6.10 bp	10.6 bp −$11	26.8 bp −$268	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	0.2469	−0.140%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2471	−0.048%	$159K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2466	−0.267%	$85K	—	150x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0034%	1h	0.2466	−0.238%	$479K	$349K	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2467	−0.210%	$418K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0094%	1h	0.2466	−0.260%	$6.2M	$11.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2468	−0.174%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2467	−0.226%	$42.7M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2468	−0.185%	$1.2M	$920K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2469	−0.118%	$158K	$146K	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	0.2467	−0.223%	$102.4M	$356.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2467	−0.210%	$71.8M	$100.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2468	−0.170%	$32.0M	$105.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2465	−0.291%	$97.4M	$58.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2466	−0.251%	$53.3M	$50.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2467	−0.230%	$30.4M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2466	−0.251%	$66.0M	$42.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2467	−0.210%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2467	−0.230%	$103K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2473	+0.041%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDClong	+0.0100%	4h	0.2472	long leg	$66K	$279K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2471	−0.037%	$291K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2474	+0.073%	$56K	$580K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2466	−0.234%	$97K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2466	−0.251%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2466	−0.236%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2468	−0.170%	$9K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2466	−0.246%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2469	−0.147%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2466	−0.251%	$48.1M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2469	−0.122%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2466	−0.268%	$558K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2472	−0.028%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2466	−0.251%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERPshort	+0.0285%	1h	0.2465	−0.288%	$1K	—	15x
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	−0.048%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0567% / S −0.0313%	1h	0.2466	−0.251%	$122K	—	100x	as long as short