Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h +0.041%

Price spread now: BloFin against Injective−1.093%7-day average +0.437% · you buy dearer than you sell

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

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.272%+$27 on $10k

Price spread, last 3 days (all we have)+2.308%+$231 · spread now −1.093%, 7d avg +0.437%

Together, before fees+2.581%+$258 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 BloFin is 1.530% cheaper against Injective than usual: you would sell low and buy high (−$153 if the spread goes back to its 7-day average of +0.437%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.272%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ADA/USDC PERP	0.2471	0.0254	pay 0.0032% / 1h	28m 04s	$849	$202K	12x
Short	BloFin ADA-USDT	0.2444	0.0220	get 0.0220% / 8h	28m 04s	$4.4M	$5.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −1.093%Rate

Funding earned: −$7.15
Price spread: −1.093% → +0.437%: −$152.99
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$172.16
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 6 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 BloFin live order book, 6 min ago	4.07 bp	10.1 bp −$10	11.7 bp −$117	23.6 bp −$2,363	45.6 bp −$22.8K

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	0.2443	−1.138%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2444	−1.093%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2442	−1.191%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2441	−1.214%	$402K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2443	−1.129%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2442	−1.166%	$42.3M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2442	−1.184%	$1.2M	$928K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2442	−1.163%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2441	−1.222%	$101.5M	$363.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2441	−1.214%	$71.0M	$103.3M	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	0.2441	−1.214%	$32.2M	$106.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2440	−1.255%	$96.8M	$59.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2441	−1.214%	$52.6M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2442	−1.174%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2442	−1.174%	$65.6M	$43.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2443	−1.133%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2442	−1.174%	$108K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	−0.881%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.735%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	−0.889%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	−0.688%	$56K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2441	−1.202%	$92K	$634K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2441	−1.214%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2442	−1.176%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2442	−1.176%	$9K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2442	−1.194%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2442	−1.174%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2442	−1.174%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2442	−1.172%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2441	−1.212%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2442	−1.188%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2452	−0.753%	$4K	$78K	10x	as long as short
BloFin ADA-USDTshort	+0.0220%	8h	0.2444	−1.093%	$4.4M	$5.5M	75x
Injective ADA/USDC PERPlong	+0.0254%	1h	0.2471	long leg	$849	$202K	12x
Reya ADARUSDPERP	+0.0284%	1h	0.2441	−1.209%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2441	−1.201%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4732%	1h	0.2503	+1.287%	$503K	$430K	50x	as long as short