Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h −0.019%

Price spread now: Gate against Kraken Futures−0.092%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$510.511% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now −0.092%, 7d avg −0.043%

Together, before fees−0.091%−$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.048% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of −0.043%). If the spread goes back, that is −$5 on $10k: about 2.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2445	0.0020	pay 0.0002% / 1h	59m 55s	$6.3M	$13.8M	50x
Short	Gate ADA_USDT	0.2443	0.0100	get 0.0100% / 8h	1h 59m	$99.8M	$65.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.092%Rate

Funding earned: $16.88
Price spread: −0.092% → −0.043%: −$4.84
Slippage, 4 orders: −$26.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$39.09
Costs to cover: 0.511%
Break-even: 23.2 days

Slippage from Kraken Futures: live order book, 4 min ago; Gate: 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	2.66 bp	13.3 bp −$13	18.7 bp −$187	48.5 bp −$4,851	doesn't fit
Sell Gate live order book, 4 min ago	2.04 bp	13.3 bp −$13	19.9 bp −$199	96.1 bp −$9,611	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
Kalshi KXADAPERP	0.0000%	8h	0.2446	+0.031%	$187K	$7.6M	3.2x	as long as short
dYdX ADA-USD	+0.0001%	1h	0.2447	+0.053%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	−0.002%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0020%	1h	0.2445	long leg	$6.3M	$13.8M	50x
Phoenix ADA	+0.0032%	1h	0.2450	+0.190%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.053%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2447	+0.088%	$2.4M	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2445	−0.010%	$6K	$6K	20x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2446	+0.043%	$43.0M	$18.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2445	−0.007%	$1.2M	$1.1M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ADA	+0.0100%	1h	0.2448	+0.099%	$157K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2444	−0.051%	$102.9M	$410.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2444	−0.051%	$72.2M	$124.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2444	−0.051%	$32.5M	$118.3M	50x	as long as short
Gate ADA_USDTshort	+0.0100%	8h	0.2443	−0.092%	$99.8M	$65.8M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2445	−0.010%	$52.0M	$65.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	−0.018%	$29.3M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2445	−0.010%	$66.5M	$53.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2445	−0.010%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2445	−0.022%	$137K	$485K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	+0.115%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2448	+0.132%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	+0.118%	$288K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2452	+0.276%	$83K	$889K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2445	−0.014%	$121K	$1.1M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2447	+0.054%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.109%	$8K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	+0.010%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	+0.039%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	+0.031%	$47.5M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2444	−0.059%	$524K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2448	+0.113%	$379K	$8.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2448	+0.121%	$21K	$250	20x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2450	+0.195%	$4.4M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2445	−0.010%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0568%	1h	0.2447	+0.064%	$623K	$613K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0631% / S −0.0728%	1h	0.2445	−0.014%	$164K	—	100x	as long as short