Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0081%/8h= −8.8% APRpaid last 24h +0.017%

Price spread now: Kraken Futures against KuCoin+0.053%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 4 days (all we have)+0.156%+$16 · spread now +0.053%, 7d avg +0.006%

Together, before fees+0.196%+$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.047% dearer against KuCoin than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of +0.006%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ADAUSDTM	0.2475	0.0100	pay 0.0100% / 8h	2h 52m	$29.7M	$15.4M	75x
Short	Kraken Futures PF_ADAUSD	0.2476	0.0019	get 0.0002% / 1h	52m 02s	$6.3M	$13.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$16.93
Price spread: +0.053% → +0.006%: $4.69
Slippage, 4 orders: −$26.44
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$60.68
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Kraken Futures: live order book, 2 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, 2 min ago	2.63 bp	11.9 bp −$12	21.2 bp −$212	63.3 bp −$6,330	doesn't fit
Sell Kraken Futures live order book, 2 min ago	0.20 bp	13.5 bp −$13	20.9 bp −$209	48.7 bp −$4,869	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	0.2471	−0.140%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2476	+0.057%	$152K	$7.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2473	−0.048%	$85K	—	150x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0019%	1h	0.2476	+0.053%	$6.3M	$13.3M	50x
Phoenix ADA	+0.0032%	1h	0.2471	−0.154%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.145%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2477	+0.105%	$2.5M	$986K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2477	+0.085%	$44.0M	$16.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2474	−0.022%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2473	−0.077%	$158K	$170K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2474	−0.024%	$104.3M	$393.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2474	−0.024%	$73.5M	$117.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2474	−0.024%	$33.1M	$113.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2473	−0.065%	$100.1M	$62.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2475	+0.016%	$59.4M	$62.6M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2475	long leg	$29.7M	$15.4M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2473	−0.065%	$67.3M	$51.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2475	+0.016%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2470	−0.183%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2469	−0.241%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2471	−0.135%	$289K	$4.0M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2474	−0.028%	$94K	$635K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2474	−0.024%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2475	+0.033%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2476	+0.057%	$8K	$748K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2476	+0.057%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2475	+0.008%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2475	+0.016%	$48.2M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2475	+0.026%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2475	+0.009%	$537K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2471	−0.145%	$410K	$8.3M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0160%	1h	0.2476	+0.040%	$123K	$456K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2469	−0.226%	$4.5M	$5.8M	75x	as long as short
ApeX Omni ADAUSDT	+0.0245%	1h	0.2470	−0.186%	$228K	$758K	50x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2474	−0.024%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0397%	1h	0.2476	+0.061%	$609K	$534K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0625% / S −0.0585%	1h	0.2473	−0.056%	$140K	—	100x	as long as short