Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0005%/8h= +0.6% APRpaid last 24h −0.007%

Price spread now: edgeX against Kraken Futures−0.055%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$470.466% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 3 days (all we have)−0.297%−$30 · spread now −0.055%, 7d avg −0.024%

Together, before fees−0.215%+ Points / potential airdropedgeX: Active · farm board−$22 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: edgeX is 0.031% cheaper against Kraken Futures than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2456	0.0095	pay 0.0012% / 1h	8m 42s	$6.2M	$11.6M	50x
Short	edgeX ADAUSDC	0.2455	0.0100	get 0.0050% / 4h	1h 08m	$65K	$280K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.055%Rate

Funding earned: $1.1
Price spread: −0.055% → −0.024%: −$3.09
Slippage, 4 orders: −$27.58
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$48.58
Costs to cover: 0.466%
Break-even: 316.2 days

Slippage from Kraken Futures: live order book, 5 min ago; edgeX: live order book, 9 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	2.24 bp	14.0 bp −$14	17.6 bp −$176	56.7 bp −$5,667	doesn't fit
Sell edgeX live order book, 9 min ago	6.10 bp	10.6 bp −$11	28.6 bp −$286	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	0.2455	−0.056%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2455	−0.052%	$156K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	−0.071%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2456	−0.011%	$412K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0095%	1h	0.2456	long leg	$6.2M	$11.6M	50x
Lighter ADA	+0.0096%	1h	0.2457	+0.013%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.007%	$42.5M	$14.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2456	−0.027%	$1.2M	$923K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2456	−0.016%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	−0.049%	$101.9M	$360.6M	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	0.2455	−0.052%	$71.4M	$102.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	−0.052%	$31.9M	$105.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2453	−0.133%	$97.0M	$59.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2455	−0.052%	$52.5M	$51.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	−0.036%	$30.2M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	−0.093%	$65.8M	$43.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2454	−0.093%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2457	+0.017%	$102K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	−0.127%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDCshort	+0.0100%	4h	0.2455	−0.055%	$65K	$280K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.131%	$294K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	−0.093%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2456	−0.028%	$96K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2455	−0.052%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	−0.029%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	−0.009%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	−0.032%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	−0.026%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2455	−0.052%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2455	−0.050%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	−0.113%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2455	−0.036%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.029%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2456	−0.029%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.599%	$849	$202K	12x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0361%	1h	0.2456	−0.007%	$479K	$351K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2454	−0.079%	$122K	—	100x	as long as short