Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0218%/8h= +23.9% APRpaid last 24h +0.005%

Price spread now: Deribit against Gate+0.150%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.150%, 7d avg +0.074%

Together, before fees−0.056%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Deribit is 0.076% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.074%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.016% in total (about -0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ADA_USDT	0.2463	0.0100	pay 0.0100% / 8h	7h 21m	$98.4M	$59.2M	75x
Short	Deribit ADA_USDC-PERPETUAL	0.2467	0.0318	get 0.0040% / 1h	21m 14s	$496K	$434K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.150%Rate

Funding earned: $45.78
Price spread: +0.150% → +0.074%: $7.64
Slippage, 4 orders: −$18.31
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $13.11
Costs to cover: 0.403%
Break-even: 5.0 days

Slippage from Gate: live order book, 3 min ago; Deribit: live order book, 53 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, 3 min ago	4.05 bp	12.2 bp −$12	18.4 bp −$184	84.5 bp −$8,450	doesn't fit
Sell Deribit live order book, 53 min ago	2.46 bp	6.6 bp −$7	12.9 bp −$129	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	0.2465	+0.067%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2467	+0.162%	$191K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2465	+0.101%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.325%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2467	+0.162%	$413K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2466	+0.124%	$6.2M	$11.7M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2473	+0.422%	$4K	$84K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2466	+0.118%	$1.2M	$950K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2466	+0.126%	$161K	$148K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2465	+0.081%	$102.7M	$365.8M	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	0.2465	+0.081%	$72.5M	$104.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2465	+0.081%	$32.6M	$107.1M	50x	as long as short
Gate ADA_USDTlong	+0.0100%	8h	0.2463	long leg	$98.4M	$59.2M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2464	+0.041%	$53.2M	$51.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2465	+0.073%	$30.2M	$17.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2465	+0.081%	$66.2M	$44.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2465	+0.081%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2465	+0.077%	$128K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2465	+0.085%	$4.2M	$967K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2470	+0.288%	$66K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2471	+0.333%	$293K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2469	+0.244%	$56K	$584K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2464	+0.053%	$94K	$648K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2465	+0.081%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2467	+0.146%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2467	+0.161%	$9K	$766K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2466	+0.126%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2465	+0.061%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2464	+0.041%	$48.1M	$5.7M	50x	as long as short
Paradex ADA-USD-PERP	+0.0103%	8h	0.2466	+0.116%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2466	+0.119%	$537K	$1.8M	50x	as long as short
Lighter ADA	+0.0184%	1h	0.2468	+0.203%	$2.5M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0207%	1h	0.2466	+0.138%	$43.1M	$14.2M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2467	+0.162%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2465	+0.082%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0318%	1h	0.2467	+0.150%	$496K	$434K	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0626% / S −0.0393%	1h	0.2465	+0.081%	$142K	—	100x	as long as short