Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0237%/8h= −26.0% APRpaid last 24h −0.002%

Price spread now: KuCoin against Kraken Futures−0.015%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 3 days (all we have)−0.197%−$20 · spread now −0.015%, 7d avg −0.006%

Together, before fees−0.213%−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$7 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 -0.016% in total (about -0.8% a year). A funding rate is set anew for every payment. 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	0.2448	0.0337	pay 0.0042% / 1h	12m 12s	$6.1M	$11.4M	50x
Short	KuCoin ADAUSDTM	0.2448	0.0100	get 0.0100% / 8h	2h 12m	$30.2M	$18.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$49.8
Price spread: −0.015% → −0.006%: −$0.87
Slippage, 4 orders: −$26.25
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$98.91
Costs to cover: 0.483%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; KuCoin: live order book, 7 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, 2 min ago	3.06 bp	10.6 bp −$11	16.8 bp −$168	61.1 bp −$6,115	doesn't fit
Sell KuCoin live order book, 7 min ago	1.63 bp	10.7 bp −$11	19.0 bp −$190	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	0.2448	+0.006%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2451	+0.124%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2448	−0.007%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.247%	$407K	$7.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0077%	1h	0.2449	+0.034%	$475K	$353K	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2450	+0.063%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2448	−0.007%	$42.4M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2448	+0.008%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2448	−0.006%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2448	−0.006%	$101.5M	$355.7M	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	0.2447	−0.039%	$70.4M	$99.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2447	−0.039%	$31.8M	$105.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2446	−0.080%	$96.6M	$58.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	−0.039%	$52.6M	$56.7M	300x	as long as short
KuCoin ADAUSDTMshort	+0.0100%	8h	0.2448	−0.015%	$30.2M	$18.2M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2448	+0.002%	$65.5M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2448	+0.002%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	−0.002%	$102K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	+0.263%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.265%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.427%	$290K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.206%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2448	−0.015%	$96K	$623K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2447	−0.039%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	+0.002%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2449	+0.042%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.019%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2448	−0.015%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2448	+0.002%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2448	+0.010%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.028%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2452	+0.177%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2454	+0.247%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2447	−0.024%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0337%	1h	0.2448	long leg	$6.1M	$11.4M	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2447	−0.027%	$109K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.325%	$838	$131K	12x	as long as short