Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0013%/8h= +1.5% APRpaid last 24h +0.009%

Price spread now: Kraken Futures against OKX−0.031%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

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

costs, in and out, $10k−$410.408% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 3 days (all we have)+0.177%+$18 · spread now −0.031%, 7d avg +0.003%

Together, before fees+0.195%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.034% cheaper against OKX than usual: you would sell low and buy high (spread −0.031% now, against its 7-day average of +0.003%). If the spread goes back, that is −$3 on $10k: about 8.4 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ADA-USDT-SWAP	0.2455	0.0100	pay 0.0100% / 8h	0m 47s	$32.4M	$107.7M	50x
Short	Kraken Futures PF_ADAUSD	0.2454	0.0113	get 0.0014% / 1h	0m 47s	$6.2M	$11.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.031%Rate

Funding earned: $2.78
Price spread: −0.031% → +0.003%: −$3.35
Slippage, 4 orders: −$20.81
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$41.38
Costs to cover: 0.408%
Break-even: 111.0 days

Slippage from OKX: live order book, 3 min ago; Kraken Futures: 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 OKX live order book, 3 min ago	2.04 bp	7.0 bp −$7	13.3 bp −$133	44.0 bp −$4,398	doesn't fit
Sell Kraken Futures live order book, 3 min ago	2.04 bp	14.1 bp −$14	17.3 bp −$173	58.1 bp −$5,811	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	0.2451	−0.154%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2454	−0.041%	$205K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2452	−0.109%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2447	−0.326%	$406K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2456	+0.053%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.049%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	−0.007%	$1.2M	$933K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	−0.097%	$158K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	+0.010%	$101.5M	$366.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	−0.041%	$71.5M	$104.0M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAPlong	+0.0100%	8h	0.2455	long leg	$32.4M	$107.7M	50x
Gate ADA_USDT	+0.0100%	8h	0.2454	−0.041%	$97.9M	$60.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	−0.081%	$52.8M	$51.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	−0.045%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	0.000%	$66.0M	$43.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2454	−0.041%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	−0.012%	$108K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.197%	$4.2M	$972K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2451	−0.183%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.448%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2451	−0.163%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2452	−0.130%	$94K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	−0.041%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.020%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	−0.042%	$9K	$768K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2454	−0.041%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	−0.023%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2453	−0.081%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2453	−0.091%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	−0.040%	$553K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0113%	1h	0.2454	−0.031%	$6.2M	$11.7M	50x
Phoenix ADA	+0.0130%	1h	0.2450	−0.191%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	−0.081%	$4.3M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.652%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2452	−0.120%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0361%	1h	0.2455	+0.012%	$493K	$430K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0564% / S −0.0313%	1h	0.2452	−0.124%	$122K	—	100x	as long as short