Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.005%

Price spread now: Coinbase International against KuCoin+0.098%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.098%, 7d avg −0.030%

Together, before fees−0.198%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.128% dearer against KuCoin than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.030%. Mind the row above: over the last 7 days funding on this pair cost −0.081%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ADAUSDTM	0.2437	0.0100	pay 0.0100% / 8h	1h 36m	$29.4M	$15.9M	75x
Short	Coinbase International ADA-PERP-INTX	0.2439	0.0120	get 0.0015% / 1h	36m 01s	$381K	$8.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.098%Rate

Funding earned: $4.2
Price spread: +0.098% → −0.030%: $12.84
Slippage, 4 orders: −$28.93
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$33.89
Costs to cover: 0.509%
Break-even: 63.5 days

Slippage from KuCoin: live order book, 3 min ago; Coinbase International: live order book, 3 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 KuCoin live order book, 3 min ago	1.03 bp	14.6 bp −$15	23.6 bp −$236	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	4.10 bp	11.3 bp −$11	16.7 bp −$167	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
Kalshi KXADAPERP	0.0000%	8h	0.2437	+0.016%	$200K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2434	−0.090%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.412%	$849	$202K	12x	as long as short
dYdX ADA-USD	+0.0075%	1h	0.2433	−0.138%	$200K	$2K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2435	−0.066%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2436	−0.041%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2437	+0.016%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2436	−0.025%	$102.5M	$409.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2435	−0.066%	$72.1M	$124.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2436	−0.025%	$32.4M	$117.7M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2435	−0.066%	$99.6M	$64.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2437	+0.016%	$51.8M	$64.8M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2437	long leg	$29.4M	$15.9M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2435	−0.066%	$66.1M	$53.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2436	−0.025%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2437	+0.019%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2435	−0.046%	$65K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	+0.097%	$292K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2439	+0.098%	$81K	$891K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2434	−0.111%	$129K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	+0.034%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2437	+0.016%	$8K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2435	−0.049%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2437	+0.013%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2436	−0.025%	$47.3M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2434	−0.090%	$512K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2438	+0.060%	$20K	$250	20x	as long as short
Lighter ADA	+0.0112%	1h	0.2437	+0.016%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0120%	1h	0.2439	+0.098%	$381K	$8.6M	50x
Backpack ADA_USDC_PERP	+0.0142%	1h	0.2436	−0.016%	$138K	$483K	15x	as long as short
Phoenix ADA	+0.0163%	1h	0.2435	−0.057%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2435	−0.047%	$6.3M	$13.9M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2440	+0.140%	$4.4M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0267%	1h	0.2437	+0.029%	$42.8M	$18.1M	10x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2433	−0.147%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0572%	1h	0.2436	−0.012%	$622K	$617K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2434	−0.101%	$163K	—	100x	as long as short