Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Pacifica against Kalshi+0.042%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Kalshi Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.298%+$30 on $10k

Price spread, last 4 days (all we have)−0.601%−$60 · spread now +0.042%, 7d avg +0.063%

Together, before fees−0.303%+ Points / potential airdropPacifica: Active · farm board−$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.021% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.042% now, against its 7-day average of +0.063%). If the spread goes back, that is −$2 on $10k: about 17 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXADAPERP	0.2454	0	get 0.0000% / 8h	3h 39m	$196K	$7.8M	3.2x
Short	Pacifica ADA	0.2455	0.0100	get 0.0013% / 1h	39m 01s	$157K	$181K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.042%Rate

Funding earned: $21
Price spread: +0.042% → +0.063%: −$2.13
Slippage, 4 orders: −$30.02
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$29.15
Costs to cover: 0.480%
Break-even: 16.7 days

Slippage from Kalshi: live order book, 5 min ago; Pacifica: live order book, 59 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, 5 min ago	2.03 bp	7.0 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit
Sell Pacifica live order book, 59 min ago	3.07 bp	8.4 bp −$8	doesn't fit	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
Kalshi KXADAPERPlong	0.0000%	8h	0.2454	long leg	$196K	$7.8M	3.2x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.023%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.693%	$849	$202K	12x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2451	−0.122%	$1.2M	$1.2M	75x	as long as short
Pacifica ADAshort	+0.0100%	1h	0.2455	+0.042%	$157K	$181K	10x
Binance ADAUSDT	+0.0100%	8h	0.2451	−0.128%	$103.6M	$407.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2452	−0.081%	$73.1M	$127.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2452	−0.081%	$32.7M	$118.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2450	−0.163%	$100.2M	$62.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2451	−0.122%	$58.5M	$67.8M	300x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ADAUSDTM	+0.0100%	8h	0.2453	−0.053%	$29.4M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2451	−0.122%	$66.6M	$53.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2452	−0.081%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2452	−0.094%	$140K	$486K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	−0.037%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2455	+0.042%	$66K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.163%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	+0.041%	$75K	$896K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.041%	$116K	$1.4M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	−0.041%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.032%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	+0.024%	$8K	$753K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	−0.061%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2452	−0.095%	$1.3M	$7.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2451	−0.122%	$47.4M	$7.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2452	−0.067%	$507K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2455	+0.052%	$21K	—	20x	as long as short
Hyperliquid ADA	+0.0112%	1h	0.2453	−0.055%	$43.1M	$18.5M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0152%	1h	0.2456	+0.081%	$366K	$8.5M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2459	+0.216%	$3K	$113K	10x	as long as short
Lighter ADA	+0.0176%	1h	0.2454	−0.012%	$2.4M	$998K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0199%	1h	0.2452	−0.075%	$6.3M	$14.0M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	+0.081%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0272%	1h	0.2453	−0.040%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0362%	1h	0.2454	+0.016%	$636K	$739K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0369% / S −0.0295%	1h	0.2453	−0.049%	$87K	—	100x	as long as short
dYdX ADA-USD	+0.0525%	1h	0.2454	+0.008%	$202K	$2K	10x	as long as short