ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0292%/8h= +32.0% APRnext payment +$0.37 per $10,000 · paid last 24h +0.060%

Price spread now: Deribit against Kraken Futures+0.029%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

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

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.029%, 7d avg +0.024%

Together, before fees−0.040%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.37 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	0.2467	0.0026	pay 0.0003% / 1h	9m 22s	$6.3M	$13.1M	50x
Short	Deribit ADA_USDC-PERPETUAL	0.2468	0.0318	get 0.0040% / 1h	9m 22s	$607K	$533K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.029%Rate

Funding earned: $61.36
Price spread: +0.029% → +0.024%: $0.48
Slippage, 4 orders: −$20.38
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $24.46
Costs to cover: 0.374%
Break-even: 4.2 days

Slippage from Kraken Futures: live order book, 5 min ago; Deribit: live order book, 44 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, 5 min ago	2.63 bp	11.4 bp −$11	17.3 bp −$173	44.6 bp −$4,463	doesn't fit
Sell Deribit live order book, 44 min ago	2.19 bp	5.9 bp −$6	17.1 bp −$171	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	0.2468	+0.023%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2467	+0.001%	$137K	$6.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2459	−0.317%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0026%	1h	0.2467	long leg	$6.3M	$13.1M	50x
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.163%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2467	+0.001%	$396K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2471	+0.163%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2461	−0.242%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2468	+0.058%	$158K	$170K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2460	−0.300%	$103.8M	$390.9M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2458	−0.364%	$74.0M	$115.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2459	−0.323%	$32.9M	$111.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2459	−0.323%	$99.8M	$62.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2460	−0.283%	$59.0M	$62.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2460	−0.295%	$29.6M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2463	−0.161%	$67.1M	$51.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2459	−0.323%	—	$6.6M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2466	−0.038%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2471	+0.180%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2472	+0.204%	$290K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2472	+0.204%	$228K	$756K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2464	−0.137%	$92K	$630K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2458	−0.364%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2459	−0.317%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2468	+0.039%	$8K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2467	+0.001%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2467	+0.002%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2467	+0.001%	$48.1M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2470	+0.107%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2464	−0.127%	$534K	$1.8M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0138%	1h	0.2467	+0.005%	$124K	$470K	15x	as long as short
Phoenix ADA	+0.0161%	1h	0.2465	−0.076%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2472	+0.204%	$4.6M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0273%	1h	0.2465	−0.088%	$43.8M	$16.3M	10x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2461	−0.223%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0318%	1h	0.2468	+0.029%	$607K	$533K	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0585%	1h	0.2460	−0.300%	$140K	—	100x	as long as short