ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.06 per $10,000 · paid last 24h −0.018%

Price spread now: Phoenix against Kraken Futures−0.186%71s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.224%−$22 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.186% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.186% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 12 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.224%, so the current rate has only just turned in your favour. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2455	0.0047	pay 0.0006% / 1h	39m 47s	$6.2M	$11.6M	50x
Short	Phoenix ADA	0.2450	0.0098	get 0.0012% / 1h	39m 47s	$4K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.186%Rate

Funding earned: $10.59
Price spread: −0.186% → 0.000%: −$18.57
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$24.98
Costs to cover: 0.170%
Break-even: 23.5 days

Slippage unknown: Kraken Futures: live order book, 4 min ago; Phoenix: no order-book sample. Net counts fees only.

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	2.86 bp	12.9 bp −$13	15.8 bp −$158	38.2 bp −$3,820	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2449	−0.220%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2453	−0.072%	$195K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.050%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.662%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2449	−0.235%	$412K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0047%	1h	0.2455	long leg	$6.2M	$11.6M	50x
Lighter ADA	+0.0096%	1h	0.2457	+0.071%	$2.4M	$1.1M	10x	as long as short
Phoenix ADAshort	+0.0098%	1h	0.2450	−0.186%	$4K	$84K	10x
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.051%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	−0.024%	$1.2M	$944K	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	0.2451	−0.172%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2454	−0.017%	$101.5M	$364.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	−0.031%	$71.9M	$103.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	+0.010%	$32.4M	$106.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2453	−0.072%	$97.8M	$58.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	−0.031%	$52.7M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	−0.006%	$30.1M	$17.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	−0.031%	$66.0M	$43.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2454	−0.031%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2456	+0.059%	$111K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2451	−0.148%	$4.2M	$944K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	−0.189%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.152%	$296K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2446	−0.357%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2454	−0.043%	$93K	$644K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	−0.031%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.004%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	+0.009%	$9K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	−0.011%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2453	−0.085%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.031%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2453	−0.062%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	−0.072%	$552K	$1.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2452	−0.112%	$4.4M	$5.5M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0239%	1h	0.2455	+0.026%	$492K	$434K	50x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2454	−0.030%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0393%	1h	0.2454	−0.030%	$141K	—	100x	as long as short