Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.030%

Price spread now: Extended against Kalshi−0.005%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on Kalshi Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.200%+$20 on $10k

Price spread, last 7 days−0.011%−$1 · spread now −0.005%, 7d avg −0.003%

Together, before fees+0.189%+ Points / potential airdropExtended: Active · farm board+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXADAPERP	0.2442	0	get 0.0000% / 8h	6h 37m	$157K	$7.0M	3.2x
Short	Extended ADA-USD	0.2442	0.0104	get 0.0013% / 1h	37m 06s	$531K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.005%Rate

Funding earned: $21.84
Price spread: −0.005% → −0.003%: −$0.23
Slippage, 4 orders: −$12.77
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$6.15
Costs to cover: 0.278%
Break-even: 9.0 days

Slippage from Kalshi: live order book, 2 min ago; Extended: live order book, 1 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, 2 min ago	4.09 bp	9.3 bp −$9	19.6 bp −$196	doesn't fit	doesn't fit
Sell Extended live order book, 1 min ago	2.05 bp	4.5 bp −$5	10.0 bp −$100	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	0.2442	+0.013%	$201K	$2K	10x	as long as short
Kalshi KXADAPERPlong	0.0000%	8h	0.2442	long leg	$157K	$7.0M	3.2x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2442	+0.018%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2442	+0.009%	$6.2M	$13.3M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2444	+0.086%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.188%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2444	+0.082%	$2.4M	$989K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2442	+0.020%	$42.2M	$17.0M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2442	−0.010%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2443	+0.037%	$156K	$170K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2442	0.000%	$103.0M	$396.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2442	0.000%	$71.2M	$119.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2443	+0.041%	$32.6M	$112.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2440	−0.082%	$98.8M	$63.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2442	0.000%	$57.9M	$63.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2442	+0.004%	$29.3M	$15.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2442	0.000%	$66.3M	$52.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2442	0.000%	—	$20.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2443	+0.037%	$115K	$469K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	+0.577%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2443	+0.043%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2440	−0.065%	$291K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2440	−0.082%	$226K	$761K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2442	−0.004%	$111K	$785K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2443	+0.041%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2443	+0.035%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2443	+0.041%	$8K	$751K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2442	+0.020%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2440	−0.068%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2443	+0.041%	$47.6M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2444	+0.066%	$20K	$250	20x	as long as short
Extended ADA-USDshort	+0.0104%	1h	0.2442	−0.005%	$531K	$1.8M	50x
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2442	0.000%	$380K	$8.2M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2446	+0.164%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2443	+0.022%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0405%	1h	0.2445	+0.102%	$601K	$550K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0620% / S −0.0585%	1h	0.2442	−0.010%	$138K	—	100x	as long as short