Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h −0.009%

Price spread now: Bitget against Kraken Futures−0.007%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$430.431% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)−0.173%−$17 · spread now −0.007%, 7d avg −0.021%

Together, before fees−0.150%−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2448	0.0114	pay 0.0014% / 1h	8m 19s	$6.2M	$11.7M	50x
Short	Bitget ADAUSDT	0.2448	0.0100	get 0.0100% / 8h	8m 19s	$65.8M	$43.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$2.84
Price spread: −0.007% → −0.021%: $1.37
Slippage, 4 orders: −$21.07
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$44.54
Costs to cover: 0.431%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 6 min ago; Bitget: live order book, 6 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, 6 min ago	2.05 bp	12.5 bp −$12	17.9 bp −$179	40.0 bp −$3,996	doesn't fit
Sell Bitget live order book, 6 min ago	2.05 bp	10.8 bp −$11	15.2 bp −$152	34.9 bp −$3,488	101.9 bp −$51.0K

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	0.2446	−0.076%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2446	−0.089%	$213K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2448	−0.022%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2441	−0.293%	$404K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2448	+0.009%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2449	+0.053%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2447	−0.034%	$1.2M	$931K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	−0.038%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2448	−0.001%	$101.2M	$366.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2448	−0.007%	$71.2M	$104.0M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	+0.074%	$32.4M	$107.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2447	−0.048%	$97.7M	$60.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	−0.048%	$52.3M	$51.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2447	−0.028%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDTshort	+0.0100%	8h	0.2448	−0.007%	$65.8M	$43.8M	75x
BingX ADA-USDC	+0.0100%	8h	0.2448	−0.007%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	−0.011%	$106K	$417K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2439	−0.369%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2441	−0.283%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	−0.380%	$290K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2441	−0.293%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2448	−0.024%	$94K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2448	−0.007%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2449	+0.021%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2449	+0.034%	$9K	$768K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2448	+0.009%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2449	+0.027%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2447	−0.048%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2448	−0.019%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2448	−0.006%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0114%	1h	0.2448	long leg	$6.2M	$11.7M	50x
Phoenix ADA	+0.0130%	1h	0.2446	−0.105%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2445	−0.130%	$4.3M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.932%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2448	−0.005%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0564% / S −0.0313%	1h	0.2448	−0.010%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.7798%	1h	0.2468	+0.793%	$495K	$430K	50x	as long as short