Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against Pacifica−0.004%7-day average −0.005% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

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

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.004%, 7d avg −0.005%

Together, before fees+0.042%+ Points / potential airdropPacifica: Active · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ADA	0.2436	0.0100	pay 0.0013% / 1h	24m 03s	$156K	$180K	10x
Short	Phemex ADAUSDT	0.2436	0.0100	get 0.0100% / 8h	24m 03s	$47.2M	$7.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.004%Rate

Funding earned: $0
Price spread: −0.004% → −0.005%: $0.11
Slippage, 4 orders: −$17.92
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$37.81
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from Pacifica: live order book, 14 min ago; Phemex: live order book, 5 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, 14 min ago	3.07 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	4.10 bp	10.1 bp −$10	13.5 bp −$135	41.7 bp −$4,169	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	0.2435	−0.064%	$200K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2436	+0.011%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.433%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2438	+0.078%	$2.4M	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2436	−0.004%	$6K	$5K	20x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2440	+0.140%	$42.9M	$18.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2436	0.000%	$1.2M	$1.2M	75x	as long as short
Pacifica ADAlong	+0.0100%	1h	0.2436	long leg	$156K	$180K	10x
Binance ADAUSDT	+0.0100%	8h	0.2437	+0.037%	$102.8M	$407.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2436	−0.004%	$72.5M	$126.3M	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-SWAP	+0.0100%	8h	0.2438	+0.078%	$32.4M	$118.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2437	+0.037%	$99.5M	$65.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2437	+0.037%	$51.7M	$65.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2437	+0.037%	$29.5M	$16.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2437	+0.037%	$66.2M	$53.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2438	+0.078%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2438	+0.094%	$138K	$485K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2436	−0.002%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2443	+0.272%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2443	+0.282%	$295K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2442	+0.242%	$77K	$894K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2437	+0.021%	$121K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2436	+0.007%	$39K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2439	+0.100%	$8K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2437	+0.016%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2437	+0.031%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2436	−0.004%	$47.2M	$7.6M	50x
Kalshi KXADAPERP	+0.0101%	8h	0.2437	+0.037%	$233K	$7.7M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0103%	8h	0.2436	−0.009%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2436	−0.010%	$512K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2437	+0.037%	$378K	$8.4M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2439	+0.119%	$4.5M	$5.8M	75x	as long as short
Phoenix ADA	+0.0228%	1h	0.2439	+0.107%	$2K	$112K	10x	as long as short
Reya ADARUSDPERP	+0.0273%	1h	0.2436	−0.006%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0281%	1h	0.2436	+0.009%	$6.3M	$14.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0369% / S −0.0295%	1h	0.2436	−0.005%	$86K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0489%	1h	0.2438	+0.078%	$621K	$614K	50x	as long as short