Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.006%

Price spread now: Coinbase International against Gate−0.081%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)+0.397%+$40 · spread now −0.081%, 7d avg +0.013%

Together, before fees+0.285%+$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.095% cheaper against Gate than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.013%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ADA_USDT	0.2461	0.0100	pay 0.0100% / 8h	4h 55m	$98.5M	$58.7M	75x
Short	Coinbase International ADA-PERP-INTX	0.2459	0.0080	get 0.0010% / 1h	55m 07s	$412K	$7.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$4.2
Price spread: −0.081% → +0.013%: −$9.45
Slippage, 4 orders: −$21.05
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$59.7
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Coinbase International: 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 Gate live order book, 4 min ago	2.03 bp	12.5 bp −$13	16.2 bp −$162	72.4 bp −$7,240	doesn't fit
Sell Coinbase International live order book, 4 min ago	2.03 bp	10.8 bp −$11	17.9 bp −$179	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-USD	0.0000%	1h	0.2460	−0.058%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2461	0.000%	$140K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2460	−0.021%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.406%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0080%	1h	0.2459	−0.081%	$412K	$7.7M	50x
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2461	−0.015%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2463	+0.073%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2462	+0.047%	$1.2M	$979K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2461	−0.020%	$160K	$161K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2462	+0.061%	$103.9M	$372.6M	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	0.2461	0.000%	$71.8M	$111.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2463	+0.081%	$32.7M	$106.2M	50x	as long as short
Gate ADA_USDTlong	+0.0100%	8h	0.2461	long leg	$98.5M	$58.7M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2461	0.000%	$61.4M	$59.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2462	+0.028%	$29.7M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2461	0.000%	$66.1M	$50.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2461	0.000%	—	$20.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2462	+0.053%	$126K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	+0.044%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.359%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.424%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2449	−0.488%	$226K	$740K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2461	−0.012%	$92K	$683K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	0.000%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2462	+0.058%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2463	+0.082%	$8K	$742K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2461	+0.008%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2461	−0.020%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2462	+0.041%	$48.0M	$6.5M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2464	+0.102%	$42.8M	$14.9M	10x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2460	−0.022%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2462	+0.031%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2459	−0.065%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2460	−0.041%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2460	−0.061%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0481%	1h	0.2463	+0.069%	$588K	$485K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0548% / S −0.0339%	1h	0.2460	−0.032%	$121K	—	100x	as long as short