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: ApeX Omni against Phemex−0.122%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.122%, 7d avg +0.004%

Together, before fees+0.055%+$6 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: ApeX Omni is 0.126% cheaper against Phemex than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2455	0.0100	pay 0.0100% / 8h	7h 59m	$47.5M	$7.6M	50x
Short	ApeX Omni ADAUSDT	0.2452	0.0100	get 0.0013% / 1h	59m 33s	$76K	$896K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now −0.122%Rate

Funding earned: $0
Price spread: −0.122% → +0.004%: −$12.57
Slippage, 4 orders: −$25.96
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$60.53
Costs to cover: 0.480%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; ApeX Omni: live order book, 39 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 Phemex live order book, 5 min ago	4.08 bp	10.1 bp −$10	13.6 bp −$136	37.1 bp −$3,708	doesn't fit
Sell ApeX Omni live order book, 39 min ago	6.13 bp	13.2 bp −$13	36.9 bp −$369	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	0.2454	−0.035%	$202K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2452	−0.103%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.652%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2457	+0.069%	$2.4M	$995K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	−0.041%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	−0.008%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2456	+0.035%	$157K	$181K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2454	−0.051%	$103.8M	$407.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2453	−0.081%	$73.2M	$127.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	−0.081%	$32.7M	$119.2M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2455	0.000%	$100.4M	$61.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	−0.081%	$54.3M	$66.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2453	−0.094%	$29.7M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2453	−0.081%	$66.6M	$54.1M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2456	+0.041%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2456	+0.053%	$142K	$486K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	−0.034%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.095%	$66K	$288K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2456	+0.037%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDTshort	+0.0100%	1h	0.2452	−0.122%	$76K	$896K	50x
Polymarket Perps ADA-USD	+0.0100%	1h	0.2452	−0.102%	$116K	$1.4M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	−0.093%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	+0.044%	$8K	$754K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	−0.020%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	+0.029%	$1.3M	$7.2M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2455	long leg	$47.5M	$7.6M	50x
Paradex ADA-USD-PERP	+0.0104%	8h	0.2456	+0.034%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	−0.023%	$505K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0106%	8h	0.2455	0.000%	$234K	$7.7M	3.2x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2456	+0.041%	$369K	$8.5M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	+0.041%	$4.5M	$5.9M	75x	as long as short
Phoenix ADA	+0.0228%	1h	0.2457	+0.090%	$3K	$111K	10x	as long as short
Hyperliquid ADA	+0.0258%	1h	0.2455	+0.020%	$43.5M	$18.3M	10x	as long as short
Reya ADARUSDPERP	+0.0272%	1h	0.2454	−0.038%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0279%	1h	0.2455	−0.009%	$6.4M	$14.1M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0361%	1h	0.2456	+0.033%	$640K	$722K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0370% / S −0.0295%	1h	0.2454	−0.058%	$87K	—	100x	as long as short