Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.008%

Price spread now: Coinbase International against OKX0.000%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 4 days (all we have)+0.270%+$27 · spread now 0.000%, 7d avg −0.033%

Together, before fees+0.190%+$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.033% dearer against OKX than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.033%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ADA-USDT-SWAP	0.2467	0.0100	pay 0.0100% / 8h	5h 42m	$32.9M	$105.6M	50x
Short	Coinbase International ADA-PERP-INTX	0.2467	0.0056	get 0.0007% / 1h	42m 48s	$424K	$7.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$9.24
Price spread: 0.000% → −0.033%: $3.35
Slippage, 4 orders: −$17.91
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$43.81
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Coinbase International: live order book, 1 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 OKX live order book, 1 min ago	2.03 bp	7.8 bp −$8	15.7 bp −$157	50.7 bp −$5,069	doesn't fit
Sell Coinbase International live order book, 1 min ago	4.07 bp	14.0 bp −$14	20.5 bp −$205	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	0.2463	−0.176%	$203K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2466	−0.025%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.162%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0056%	1h	0.2467	0.000%	$424K	$7.5M	50x
Hyperliquid ADA	+0.0100%	1h	0.2468	+0.057%	$43.0M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2467	−0.018%	$1.2M	$986K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2464	−0.122%	$158K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2467	−0.003%	$103.4M	$367.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2466	−0.041%	$72.8M	$108.0M	75x	as long as short
OKX ADA-USDT-SWAPlong	+0.0100%	8h	0.2467	long leg	$32.9M	$105.6M	50x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2466	−0.041%	$98.8M	$58.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2466	−0.041%	$60.1M	$55.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2467	−0.012%	$29.9M	$16.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2466	−0.041%	$66.0M	$47.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2467	0.000%	—	$20.2M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2468	+0.036%	$124K	$420K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	−0.443%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2457	−0.407%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.587%	$287K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2459	−0.324%	$227K	$730K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2465	−0.069%	$95K	$674K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2467	0.000%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2468	+0.039%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2465	−0.082%	$9K	$746K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2467	0.000%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2465	−0.064%	$1.3M	$6.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2467	0.000%	$48.0M	$6.3M	50x	as long as short
Kalshi KXADAPERP	+0.0103%	8h	0.2465	−0.081%	$162K	$6.2M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2466	−0.026%	$535K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2465	−0.100%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	−0.434%	$4K	$90K	10x	as long as short
Lighter ADA	+0.0176%	1h	0.2468	+0.049%	$2.5M	$1.0M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2467	0.000%	$4.5M	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0260%	1h	0.2466	−0.043%	$6.3M	$12.3M	50x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2466	−0.041%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0417% / S −0.0202%	1h	0.2467	−0.010%	$95K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0602%	1h	0.2468	+0.053%	$542K	$456K	50x	as long as short