Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Pacifica−0.061%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.061%, 7d avg −0.022%

Together, before fees−0.026%+ Points / potential airdropPacifica: Active · farm board−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.040% cheaper against Pacifica than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ADA	0.2447	0.0100	pay 0.0013% / 1h	15m 58s	$157K	$146K	10x
Short	Bybit ADAUSDT	0.2445	0.0100	get 0.0100% / 8h	15m 58s	$71.0M	$104.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now −0.061%Rate

Funding earned: $0
Price spread: −0.061% → −0.022%: −$3.97
Slippage, 4 orders: −$14.41
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$37.38
Costs to cover: 0.334%
Break-even: never at this rate

Slippage from Pacifica: live order book, 62 min ago; Bybit: 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 Pacifica live order book, 62 min ago	2.03 bp	9.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.05 bp	7.5 bp −$8	9.9 bp −$99	29.5 bp −$2,952	132.8 bp −$66.4K

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-USD	0.0000%	1h	0.2446	−0.035%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2446	−0.020%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	−0.069%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2443	−0.143%	$406K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2447	+0.004%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	+0.012%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2446	−0.028%	$1.2M	$930K	75x	as long as short
Pacifica ADAlong	+0.0100%	1h	0.2447	long leg	$157K	$146K	10x
Binance ADAUSDT	+0.0100%	8h	0.2447	+0.002%	$101.3M	$365.8M	75x	as long as short
Bybit ADAUSDTshort	+0.0100%	8h	0.2445	−0.061%	$71.0M	$104.0M	75x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2447	+0.020%	$32.3M	$107.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2444	−0.102%	$97.5M	$60.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2445	−0.061%	$52.3M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2446	−0.020%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2446	−0.020%	$65.7M	$43.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2447	+0.020%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	−0.025%	$106K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2445	−0.055%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2441	−0.210%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2442	−0.198%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2442	−0.184%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2445	−0.053%	$93K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2445	−0.061%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2445	−0.059%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.060%	$9K	$767K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	−0.041%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2445	−0.069%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2445	−0.061%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2447	+0.018%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2446	−0.039%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2445	−0.049%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2440	−0.249%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2442	−0.184%	$4.3M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.001%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2445	−0.059%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0564% / S −0.0313%	1h	0.2444	−0.083%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.9485%	1h	0.2468	+0.879%	$495K	$431K	50x	as long as short