Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Gate against Pacifica+0.171%7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$440.436% of the position

Long on Pacifica Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.386%−$39 · spread now +0.171%, 7d avg −0.049%

Together, before fees−0.440%+ Points / potential airdropPacifica: Active · farm board−$44 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: Gate is 0.220% dearer against Pacifica than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ADA	0.2449	0.0100	pay 0.0013% / 1h	57m 19s	$159K	$161K	10x
Short	Gate ADA_USDT	0.2453	0.0100	get 0.0100% / 8h	4h 57m	$98.4M	$58.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.171%Rate

Funding earned: $0
Price spread: +0.171% → −0.049%: $21.98
Slippage, 4 orders: −$20.57
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$21.59
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from Pacifica: live order book, 65 min ago; Gate: 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 Pacifica live order book, 65 min ago	3.66 bp	7.9 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.03 bp	13.3 bp −$13	18.6 bp −$186	93.7 bp −$9,368	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	0.2448	−0.025%	$201K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2457	+0.334%	$140K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	+0.273%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.906%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2453	+0.171%	$407K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2458	+0.361%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2458	+0.383%	$2.4M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2457	+0.326%	$42.7M	$14.9M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.263%	$1.2M	$1.0M	75x	as long as short
Pacifica ADAlong	+0.0100%	1h	0.2449	long leg	$159K	$161K	10x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2458	+0.375%	$103.8M	$372.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2458	+0.375%	$71.7M	$111.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2458	+0.375%	$32.7M	$106.2M	50x	as long as short
Gate ADA_USDTshort	+0.0100%	8h	0.2453	+0.171%	$98.4M	$58.6M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2457	+0.334%	$61.3M	$59.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2456	+0.285%	$29.6M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2458	+0.375%	$66.0M	$50.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	+0.253%	—	$20.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2453	+0.179%	$125K	$448K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	+0.212%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2455	+0.257%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	+0.177%	$293K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2456	+0.294%	$226K	$739K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.261%	$91K	$683K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.294%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	+0.277%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	+0.417%	$8K	$742K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	+0.334%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2457	+0.337%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	+0.375%	$47.9M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2456	+0.291%	$531K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2448	−0.030%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	+0.294%	$4K	$89K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.334%	$4.5M	$5.7M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2455	+0.254%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0547% / S −0.0339%	1h	0.2456	+0.277%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0646%	1h	0.2459	+0.404%	$587K	$485K	50x	as long as short