Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.024%

Price spread now: dYdX against KuCoin−0.042%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$292as in the Funding arb table

Net, price: spread back to 7d avg − costs−$284as in the Price arb table

costs, in and out, $10k−$2812.811% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 4 days (all we have)+0.045%+$5 · spread now −0.042%, 7d avg −0.014%

Together, before fees−0.068%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.027% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ADAUSDTM	0.2460	0.0100	pay 0.0100% / 8h	7h 52m	$29.5M	$16.0M	75x
Short	dYdX ADA-USD	0.2459	0	get 0.0000% / 1h	52m 02s	$202K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$21
Price spread: −0.042% → −0.014%: −$2.73
Slippage, 4 orders: −$259.14
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$304.87
Costs to cover: 2.811%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; dYdX: live order book, 47 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, 7 min ago	2.64 bp	15.4 bp −$15	25.2 bp −$252	66.8 bp −$6,677	doesn't fit
Sell dYdX live order book, 47 min ago	122.10 bp	127.1 bp −$127	168.8 bp −$1,688	217.1 bp −$21.7K	648.8 bp −$324.4K

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-USDshort	0.0000%	1h	0.2459	−0.042%	$202K	$2K	10x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.263%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.455%	$849	$202K	12x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2459	−0.043%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2459	−0.028%	$158K	$181K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2457	−0.096%	$103.9M	$407.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2457	−0.114%	$73.3M	$127.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2458	−0.073%	$32.7M	$119.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2458	−0.073%	$100.8M	$61.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2460	+0.008%	$58.6M	$67.1M	300x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2460	long leg	$29.5M	$16.0M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2459	−0.033%	$66.8M	$54.1M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2460	+0.008%	—	$20.3M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	−0.191%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.322%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2450	−0.407%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2450	−0.398%	$75K	$896K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	+0.028%	$117K	$1.4M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2460	+0.008%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2462	+0.093%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	−0.024%	$8K	$754K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2458	−0.085%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2461	+0.037%	$1.3M	$7.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	−0.073%	$47.6M	$7.6M	50x	as long as short
Kalshi KXADAPERP	+0.0101%	8h	0.2460	+0.008%	$204K	$7.8M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2458	−0.078%	$506K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2459	−0.044%	$21K	$250	20x	as long as short
Lighter ADA	+0.0128%	1h	0.2460	+0.020%	$2.4M	$996K	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0152%	1h	0.2453	−0.276%	$365K	$8.5M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	−0.163%	$2K	$113K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0198%	1h	0.2458	−0.085%	$6.4M	$14.1M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0199%	1h	0.2460	+0.016%	$142K	$485K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2459	−0.033%	$4.5M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0272%	1h	0.2460	+0.009%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0334%	1h	0.2462	+0.089%	$43.2M	$18.5M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0370% / S −0.0295%	1h	0.2459	−0.027%	$87K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0441%	1h	0.2460	+0.016%	$638K	$739K	50x	as long as short