ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0305%/8h= −33.4% APRnext payment −$0.38 per $10,000 · paid last 24h −0.019%

Price spread now: Coinbase International against Kraken Futures−0.114%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$490.494% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now −0.114%, 7d avg −0.033%

Together, before fees−0.135%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Coinbase International is 0.081% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.38 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2458	0.0353	pay 0.0044% / 1h	49m 37s	$6.2M	$12.0M	50x
Short	Coinbase International ADA-PERP-INTX	0.2455	0.0048	get 0.0006% / 1h	49m 37s	$410K	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.114%Rate

Funding earned: −$64.12
Price spread: −0.114% → −0.033%: −$8.11
Slippage, 4 orders: −$29.37
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$121.6
Costs to cover: 0.494%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Coinbase International: live order book, 4 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, 4 min ago	5.53 bp	10.9 bp −$11	18.1 bp −$181	86.2 bp −$8,620	doesn't fit
Sell Coinbase International live order book, 4 min ago	6.15 bp	12.3 bp −$12	18.2 bp −$182	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	0.2456	−0.089%	$202K	$4K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	−0.132%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.537%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0048%	1h	0.2455	−0.114%	$410K	$7.4M	50x
Lighter ADA	+0.0096%	1h	0.2458	+0.021%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2460	+0.094%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2459	+0.064%	$1.2M	$968K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2458	+0.025%	$159K	$158K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2458	0.000%	$102.4M	$374.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2457	−0.032%	$72.3M	$108.0M	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	0.2458	+0.008%	$32.6M	$108.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2457	−0.032%	$98.5M	$58.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2457	−0.032%	$50.2M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	−0.004%	$30.1M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2457	−0.032%	$65.7M	$46.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2458	+0.008%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2460	+0.069%	$130K	$422K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.312%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2444	−0.578%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.561%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2451	−0.276%	$56K	$587K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2456	−0.061%	$92K	$655K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2455	−0.114%	$6K	$28K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2457	−0.022%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	−0.113%	$9K	$773K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	−0.012%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2458	−0.011%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	+0.008%	$47.8M	$6.4M	50x	as long as short
Kalshi KXADAPERP	+0.0103%	8h	0.2455	−0.114%	$205K	$6.2M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2457	−0.036%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2457	−0.026%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2441	−0.683%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2451	−0.276%	$4.5M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2455	−0.112%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0353%	1h	0.2458	long leg	$6.2M	$12.0M	50x
Deribit ADA_USDC-PERPETUAL	+0.0402%	1h	0.2457	−0.036%	$499K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0622% / S −0.0389%	1h	0.2454	−0.154%	$140K	—	100x	as long as short