Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Phemex against Gate−0.041%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$460.460% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 3 days (all we have)+0.176%+$18 · spread now −0.041%, 7d avg +0.046%

Together, before fees+0.183%+$18 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: Phemex is 0.087% cheaper against Gate than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ADA_USDT	0.2445	0.0100	pay 0.0100% / 8h	9m 48s	$97.6M	$60.4M	75x
Short	Phemex ADAUSDT	0.2444	0.0100	get 0.0100% / 8h	9m 48s	$47.7M	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → +0.046%: −$8.74
Slippage, 4 orders: −$18.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$54.72
Costs to cover: 0.460%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Phemex: 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	2.05 bp	13.3 bp −$13	17.5 bp −$175	93.9 bp −$9,392	doesn't fit
Sell Phemex live order book, 4 min ago	2.05 bp	12.0 bp −$12	17.4 bp −$174	39.6 bp −$3,956	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	0.2445	−0.014%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2443	−0.082%	$213K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	−0.017%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2441	−0.164%	$404K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2447	+0.078%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	+0.098%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2446	+0.030%	$1.2M	$930K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2446	+0.022%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2445	−0.011%	$101.1M	$366.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2444	−0.041%	$71.1M	$104.1M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2445	0.000%	$32.3M	$107.2M	50x	as long as short
Gate ADA_USDTlong	+0.0100%	8h	0.2445	long leg	$97.6M	$60.4M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2444	−0.041%	$52.3M	$51.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	−0.016%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2446	+0.041%	$65.8M	$43.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2446	+0.041%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	+0.033%	$106K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2439	−0.239%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2441	−0.153%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2441	−0.167%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2441	−0.164%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2446	+0.025%	$94K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2445	0.000%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2445	+0.002%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2446	+0.042%	$9K	$767K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	0.000%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2445	+0.009%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2444	−0.041%	$47.7M	$5.9M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2445	−0.013%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2445	+0.001%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2445	−0.006%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2442	−0.102%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2441	−0.164%	$4.3M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.063%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2444	−0.039%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0564% / S −0.0313%	1h	0.2444	−0.042%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4745%	1h	0.2506	+2.479%	$503K	$430K	50x	as long as short