Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Kalshi+0.163%7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on Kalshi Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.290%+$29 on $10k

Price spread, last 3 days (all we have)−0.244%−$24 · spread now +0.163%, 7d avg +0.090%

Together, before fees+0.046%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.073% dearer against Kalshi than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXADAPERP	0.2451	0	get 0.0000% / 8h	3h 37m	$195K	$6.1M	3.2x
Short	ApeX Omni ADAUSDT	0.2455	0.0100	get 0.0013% / 1h	37m 16s	$55K	$583K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kalshi. 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 KalshibpFee ApeX OmnibpOrdersPrice spread, now +0.163%Rate

Funding earned: $21
Price spread: +0.163% → +0.090%: $7.31
Slippage, 4 orders: −$25.95
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$17.64
Costs to cover: 0.459%
Break-even: 12.9 days

Slippage from Kalshi: live order book, 1 min ago; ApeX Omni: live order book, 35 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 Kalshi live order book, 1 min ago	4.08 bp	9.1 bp −$9	15.8 bp −$158	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 35 min ago	4.09 bp	11.2 bp −$11	42.7 bp −$427	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	0.2453	+0.086%	$202K	$4K	10x	as long as short
Kalshi KXADAPERPlong	0.0000%	8h	0.2451	long leg	$195K	$6.1M	3.2x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2456	+0.192%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.816%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2455	+0.163%	$412K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2458	+0.301%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2460	+0.371%	$2.4M	$1.1M	10x	as long as short
Phoenix ADA	+0.0098%	1h	0.2454	+0.114%	$4K	$84K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2458	+0.282%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2456	+0.193%	$1.2M	$944K	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ADA	+0.0100%	1h	0.2455	+0.180%	$158K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2458	+0.274%	$101.7M	$363.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2458	+0.286%	$72.0M	$103.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2458	+0.286%	$32.4M	$106.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2456	+0.204%	$97.9M	$58.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	+0.204%	$52.8M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2456	+0.188%	$30.1M	$17.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2458	+0.286%	$66.1M	$43.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2457	+0.245%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2454	+0.106%	$111K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2451	+0.005%	$4.2M	$944K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	+0.056%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	+0.082%	$296K	$3.7M	10x	as long as short
ApeX Omni ADAUSDTshort	+0.0100%	1h	0.2455	+0.163%	$55K	$583K	50x
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.171%	$93K	$645K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2458	+0.286%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2458	+0.279%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	+0.204%	$9K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2458	+0.286%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2459	+0.309%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	+0.286%	$48.0M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2456	+0.189%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2457	+0.265%	$553K	$1.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	+0.204%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2456	+0.205%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0523%	1h	0.2459	+0.330%	$494K	$435K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0393%	1h	0.2456	+0.199%	$141K	—	100x	as long as short