Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Derive against Kalshi+0.122%7-day average — · you sell dearer than you buy

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

Long on Kalshi Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Derive is 0.122% dearer against Kalshi than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXADAPERP	0.2463	0	get 0.0000% / 8h	7h 07m	$140K	$6.9M	3.2x
Short	Derive ADA-PERP	0.2466	0.0100	get 0.0013% / 1h	7m 47s	$40K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +0.122%Rate

Funding earned: $21
Price spread: +0.122% → 0.000%: $12.23
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Derive: 3 bp × 2 orders: −$6
Net: $17.23
Costs to cover: 0.160%
Break-even: 1.3 days

Slippage unknown: Kalshi: live order book, 1 min ago; Derive: no order-book sample. 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 Kalshi live order book, 1 min ago	6.09 bp	11.6 bp −$12	20.2 bp −$202	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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	0.2462	−0.058%	$203K	$2K	10x	as long as short
Kalshi KXADAPERPlong	0.0000%	8h	0.2463	long leg	$140K	$6.9M	3.2x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2464	+0.057%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2466	+0.117%	$6.3M	$13.2M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.325%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2464	+0.041%	$396K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2471	+0.329%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2470	+0.264%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2463	+0.001%	$158K	$170K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2470	+0.298%	$104.3M	$391.2M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2469	+0.244%	$73.9M	$115.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2471	+0.325%	$33.0M	$111.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2468	+0.203%	$100.1M	$62.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2469	+0.244%	$59.2M	$62.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2468	+0.195%	$29.6M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2470	+0.284%	$67.2M	$51.5M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2469	+0.244%	—	$19.9M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2466	+0.124%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2471	+0.342%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2472	+0.365%	$290K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2472	+0.365%	$228K	$756K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2464	+0.032%	$92K	$630K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2465	+0.081%	$6K	$6K	20x	as long as short
Derive ADA-PERPshort	+0.0100%	1h	0.2466	+0.122%	$40K	$2K	5x
SunX ADA-USDT	+0.0100%	8h	0.2466	+0.118%	$8K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2466	+0.126%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2463	−0.015%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2467	+0.162%	$48.1M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2464	+0.047%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2469	+0.237%	$534K	$1.8M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0125%	1h	0.2468	+0.203%	$123K	$470K	15x	as long as short
Phoenix ADA	+0.0161%	1h	0.2465	+0.085%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2460	−0.122%	$4.6M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0263%	1h	0.2472	+0.349%	$44.0M	$16.3M	10x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2464	+0.060%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0358%	1h	0.2467	+0.150%	$606K	$533K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0585%	1h	0.2465	+0.073%	$140K	—	100x	as long as short