Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0008%/8h= +0.8% APRpaid last 24h −0.016%

Price spread now: Binance against Kraken Futures−0.018%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)−0.404%−$40 · spread now −0.018%, 7d avg +0.006%

Together, before fees−0.435%−$43 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: Binance is 0.024% cheaper against Kraken Futures than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2451	0.0092	pay 0.0012% / 1h	51m 45s	$6.2M	$12.8M	50x
Short	Binance ADAUSDT	0.2451	0.0100	get 0.0100% / 8h	4h 51m	$103.5M	$372.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.018%Rate

Funding earned: $1.61
Price spread: −0.018% → +0.006%: −$2.41
Slippage, 4 orders: −$17.36
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$38.16
Costs to cover: 0.374%
Break-even: 172.8 days

Slippage from Kraken Futures: live order book, 2 min ago; Binance: live order book, 7 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 Kraken Futures live order book, 2 min ago	0.20 bp	9.3 bp −$9	13.4 bp −$134	50.4 bp −$5,039	doesn't fit
Sell Binance live order book, 7 min ago	2.04 bp	7.0 bp −$7	9.8 bp −$98	22.4 bp −$2,243	71.2 bp −$35.6K

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	0.2450	−0.058%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2452	+0.042%	$145K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2450	−0.024%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.817%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2456	+0.205%	$412K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0092%	1h	0.2451	long leg	$6.2M	$12.8M	50x
Lighter ADA	+0.0096%	1h	0.2452	+0.034%	$2.4M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2452	+0.034%	$42.6M	$14.9M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2451	−0.001%	$1.2M	$980K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2451	−0.019%	$159K	$161K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDTshort	+0.0100%	8h	0.2451	−0.018%	$103.5M	$372.2M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2450	−0.040%	$71.5M	$111.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2451	+0.001%	$32.6M	$105.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2448	−0.121%	$97.9M	$58.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	−0.081%	$61.1M	$59.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	−0.040%	$29.6M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2450	−0.040%	$65.8M	$50.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2450	−0.040%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2451	+0.017%	$125K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	+0.454%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2461	+0.420%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.017%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2449	−0.081%	$226K	$740K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	+0.095%	$92K	$684K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	+0.001%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	+0.051%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.124%	$9K	$740K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	+0.021%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2453	+0.069%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2452	+0.042%	$47.8M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	−0.067%	$530K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2451	−0.005%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0195%	1h	0.2459	+0.344%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2461	+0.409%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2453	+0.083%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0444%	1h	0.2453	+0.066%	$586K	$486K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0625% / S −0.0463%	1h	0.2451	−0.010%	$149K	—	100x	as long as short