ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0006%/8h= −0.7% APRnext payment −$0.06 per $10,000 · paid last 24h +0.030%

Price spread now: Phemex against Kalshi0.000%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on Kalshi Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.252%+$25 on $10k

Price spread, last 4 days (all we have)+0.450%+$45 · spread now 0.000%, 7d avg +0.089%

Together, before fees+0.703%+$70 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.089% cheaper against Kalshi than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXADAPERP	0.2475	0.0106	pay 0.0106% / 8h	1h 31m	$141K	$6.3M	3.2x
Short	Phemex ADAUSDT	0.2475	0.0100	get 0.0100% / 8h	5h 31m	$48.1M	$6.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$1.25
Price spread: 0.000% → +0.089%: −$8.86
Slippage, 4 orders: −$12.11
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$44.22
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from Kalshi: live order book, 2 min ago; Phemex: live order book, 2 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	4.04 bp	9.0 bp −$9	18.2 bp −$182	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	2.02 bp	8.0 bp −$8	13.2 bp −$132	65.9 bp −$6,588	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	0.2478	+0.101%	$204K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2475	+0.012%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.162%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2476	+0.040%	$423K	$7.6M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2477	+0.081%	$43.1M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2474	−0.025%	$1.2M	$992K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2479	+0.149%	$159K	$161K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2477	+0.080%	$104.4M	$370.9M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2476	+0.040%	$72.7M	$109.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2478	+0.121%	$32.9M	$106.5M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2475	0.000%	$99.2M	$59.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2476	+0.040%	$58.0M	$57.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2476	+0.057%	$29.8M	$16.5M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2476	+0.040%	$66.4M	$48.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2477	+0.081%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2474	−0.024%	$128K	$424K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2479	+0.162%	$4.3M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2477	+0.085%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2477	+0.063%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2476	+0.040%	$228K	$733K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2477	+0.101%	$96K	$676K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2476	+0.040%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2476	+0.032%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2478	+0.120%	$9K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2475	−0.020%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2473	−0.065%	$1.3M	$6.1M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2475	0.000%	$48.1M	$6.3M	50x
Extended ADA-USD	+0.0104%	1h	0.2476	+0.052%	$537K	$1.8M	50x	as long as short
Kalshi KXADAPERPlong	+0.0106%	8h	0.2475	long leg	$141K	$6.3M	3.2x
Paradex ADA-USD-PERP	+0.0110%	8h	0.2480	+0.206%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2468	−0.267%	$4K	$90K	10x	as long as short
Lighter ADA	+0.0184%	1h	0.2476	+0.040%	$2.5M	$1.0M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2480	+0.202%	$4.5M	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0260%	1h	0.2474	−0.061%	$6.3M	$12.5M	50x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2477	+0.080%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0417% / S −0.0202%	1h	0.2475	+0.006%	$96K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0437%	1h	0.2476	+0.048%	$564K	$450K	50x	as long as short