Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0007%/8h= +0.8% APRpaid last 24h −0.024%

Price spread now: Kalshi against Extended+0.352%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs+$10as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Extended Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.208%−$21 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now +0.352%, 7d avg −0.021%

Together, before fees−0.233%+ Points / potential airdropExtended: Active · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kalshi is 0.373% dearer against Extended than usual: you sell high and buy low, +$37 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ADA-USD	0.2458	0.0104	pay 0.0013% / 1h	24m 34s	$535K	$1.8M	50x
Short	Kalshi KXADAPERP	0.2467	0.0111	get 0.0111% / 8h	2h 24m	$140K	$6.3M	3.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Extended. 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 ExtendedbpFee KalshibpOrdersPrice spread, now +0.352%Rate

Funding earned: $1.51
Price spread: +0.352% → −0.021%: $37.3
Slippage, 4 orders: −$12.2
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $11.62
Costs to cover: 0.272%
Break-even: from the start

Slippage from Extended: live order book, 4 min ago; Kalshi: live order book, 4 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 Extended live order book, 4 min ago	2.03 bp	4.5 bp −$5	10.2 bp −$102	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	2.03 bp	7.0 bp −$7	14.4 bp −$144	doesn't fit	doesn't fit

ADA on 36 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	0.2461	+0.098%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2466	+0.327%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.515%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2466	+0.311%	$407K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2466	+0.297%	$43.0M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2464	+0.229%	$1.2M	$970K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2462	+0.145%	$159K	$156K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2458	−0.016%	$102.8M	$372.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2458	−0.014%	$72.2M	$108.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2459	+0.027%	$32.7M	$107.6M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2458	−0.014%	$98.1M	$60.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2459	+0.027%	$49.4M	$51.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2464	+0.230%	$30.1M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2459	+0.027%	$65.8M	$47.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2459	+0.027%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2465	+0.271%	$128K	$421K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2469	+0.437%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2466	+0.323%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2467	+0.370%	$301K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2458	−0.014%	$56K	$588K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2467	+0.352%	$93K	$666K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2466	+0.311%	$6K	$27K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2468	+0.379%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2468	+0.391%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2467	+0.332%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2467	+0.335%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2465	+0.271%	$48.0M	$6.3M	50x	as long as short
Extended ADA-USDlong	+0.0104%	1h	0.2458	long leg	$535K	$1.8M	50x
Paradex ADA-USD-PERP	+0.0105%	8h	0.2460	+0.082%	$21K	$250	20x	as long as short
Kalshi KXADAPERPshort	+0.0111%	8h	0.2467	+0.352%	$140K	$6.3M	3.2x
Phoenix ADA	+0.0163%	1h	0.2470	+0.454%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0208%	1h	0.2464	+0.234%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2467	+0.332%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0352%	1h	0.2466	+0.307%	$6.2M	$12.1M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0399%	1h	0.2468	+0.380%	$504K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2466	+0.321%	$96K	—	100x	as long as short