Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h 0.000%

Price spread now: Binance against Injective−0.425%7-day average +0.310% · you buy dearer than you sell

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 4 days (all we have)+0.371%+$37 · spread now −0.425%, 7d avg +0.310%

Together, before fees+0.386%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.735% cheaper against Injective than usual: you would sell low and buy high (spread −0.425% now, against its 7-day average of +0.310%). If the spread goes back, that is −$74 on $10k: about 37 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.015% in total) that is about 12 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ADA/USDC PERP	0.2471	0.0033	pay 0.0004% / 1h	45m 04s	$849	$202K	12x
Short	Binance ADAUSDT	0.2460	0.0100	get 0.0100% / 8h	5h 45m	$103.1M	$366.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −0.425%Rate

Funding earned: $14
Price spread: −0.425% → +0.310%: −$73.53
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$69.55
Costs to cover: 0.100%
Break-even: 41.8 days

Slippage unknown: Injective: no order-book sample; Binance: live order book, 14 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 14 min ago	2.04 bp	7.0 bp −$7	12.3 bp −$123	33.6 bp −$3,355	85.3 bp −$42.7K

Injective: 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	0.2453	−0.746%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2458	−0.513%	$84K	—	150x	as long as short
Injective ADA/USDC PERPlong	+0.0033%	1h	0.2471	long leg	$849	$202K	12x
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2456	−0.607%	$443K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2462	−0.376%	$42.9M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2460	−0.445%	$1.2M	$984K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2454	−0.694%	$157K	$159K	10x	as long as short
Binance ADAUSDTshort	+0.0100%	8h	0.2460	−0.425%	$103.1M	$366.9M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2460	−0.445%	$72.7M	$107.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2460	−0.445%	$32.7M	$105.3M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2458	−0.526%	$98.2M	$58.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2459	−0.486%	$60.0M	$55.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2460	−0.445%	$29.8M	$16.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2460	−0.445%	$65.8M	$47.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2459	−0.486%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2461	−0.417%	$119K	$420K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	−0.604%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	−0.692%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.748%	$287K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2452	−0.769%	$226K	$722K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	−0.457%	$94K	$674K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2459	−0.486%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2460	−0.438%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2461	−0.407%	$8K	$745K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2460	−0.445%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2458	−0.510%	$1.3M	$6.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2459	−0.486%	$47.8M	$6.3M	50x	as long as short
Kalshi KXADAPERP	+0.0103%	8h	0.2456	−0.607%	$161K	$6.2M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2459	−0.471%	$535K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2458	−0.544%	$21K	$250	20x	as long as short
Lighter ADA	+0.0160%	1h	0.2462	−0.376%	$2.4M	$1.0M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	−0.595%	$4K	$90K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2462	−0.364%	—	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0261%	1h	0.2459	−0.467%	$6.2M	$12.2M	50x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2459	−0.466%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2458	−0.519%	$95K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0523%	1h	0.2461	−0.413%	$540K	$456K	50x	as long as short