Funding you earn now, next payment 23:00 UTC−0.0198%/8h= −21.7% APRnext payment −$0.25 per $10,000 · paid last 24h −0.005%
Price spread now: Coinbase International against Injective−0.850%64s7-day average +0.314% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.069%−$7 on $10k
+Price spread, last 3 days (all we have)+1.947%+$195 · spread now −0.850%, 7d avg +0.314%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Coinbase International is 1.164% cheaper against Injective than usual: you would sell low and buy high (−$116 if the spread goes back to its 7-day average of +0.314%). Swap the legs. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.069% in total (about -3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. 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 | Injective ADA/USDC PERP | 0.2471 | 0.0254 | pay 0.0032% / 1h | 32m 11s | $849 | $202K | 12x |
| Short | Coinbase International ADA-PERP-INTX | 0.2450 | 0.0056 | get 0.0007% / 1h | 32m 11s | $404K | $7.3M | 50x |
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$41.59
- Price spread: −0.850% → +0.314%
- −$116.4
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$168.01
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Coinbase International: live order book, 2 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 Coinbase International live order book, 2 min ago | 4.08 bp | 9.6 bp −$10 | 17.1 bp −$171 | doesn't fit | doesn't fit |
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 | 0.2452 | −0.783% | $202K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2451 | −0.809% | $175K | $6.1M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2451 | −0.824% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTXshort | +0.0056% | 1h | 0.2450 | −0.850% | $404K | $7.3M | 50x | |
| Lighter ADA | +0.0096% | 1h | 0.2452 | −0.773% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2452 | −0.785% | $42.5M | $14.3M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2452 | −0.775% | $1.2M | $925K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2452 | −0.753% | $158K | $145K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2451 | −0.809% | $101.9M | $362.4M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2450 | −0.850% | $71.4M | $102.6M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2450 | −0.850% | $32.3M | $106.8M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2450 | −0.850% | $97.3M | $59.6M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2450 | −0.850% | $52.8M | $50.7M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2451 | −0.797% | $30.1M | $18.1M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2449 | −0.890% | $65.7M | $43.3M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2450 | −0.850% | — | $18.1M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2451 | −0.805% | $110K | $415K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2454 | −0.679% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2456 | −0.590% | $65K | $281K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2457 | −0.580% | $292K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2453 | −0.728% | $55K | $582K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2451 | −0.822% | $95K | $627K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2450 | −0.850% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2452 | −0.786% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2451 | −0.811% | $9K | $763K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2450 | −0.830% | $337 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2451 | −0.796% | $1.3M | $5.3M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2450 | −0.850% | $47.9M | $5.9M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2452 | −0.775% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2450 | −0.847% | $554K | $1.8M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0113% | 1h | 0.2451 | −0.829% | $6.2M | $11.6M | 50x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0117% | 1h | 0.2452 | −0.769% | $493K | $430K | 50x | as long as short |
| Phoenix ADA | +0.0130% | 1h | 0.2452 | −0.753% | $4K | $78K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2456 | −0.607% | $4.4M | $5.5M | 75x | as long as short |
| Injective ADA/USDC PERPlong | +0.0254% | 1h | 0.2471 | long leg | $849 | $202K | 12x | |
| Reya ADARUSDPERP | +0.0284% | 1h | 0.2450 | −0.845% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0565% / S −0.0313% | 1h | 0.2451 | −0.810% | $122K | — | 100x | as long as short |
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Kraken Futures PF_ADAUSD
Deribit ADA_USDC-PERPETUAL
Phoenix ADA
BloFin ADA-USDT
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]