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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against Phemex+0.040%7-day average +0.011% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 3 days (all we have)−0.165%−$17 · spread now +0.040%, 7d avg +0.011%

Together, before fees−0.129%+ Points / potential airdropAster: Stage 5 · farm board−$13 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: Aster is 0.030% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2435	0.0100	pay 0.0100% / 8h	6h 55m	$47.4M	$6.4M	50x
Short	Aster ADAUSDT	0.2436	0.0100	get 0.0100% / 8h	6h 55m	$1.2M	$966K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → +0.011%: $2.95
Slippage, 4 orders: −$22.48
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$39.53
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Aster: 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 Phemex live order book, 4 min ago	4.08 bp	10.1 bp −$10	15.6 bp −$156	48.5 bp −$4,849	doesn't fit
Sell Aster live order book, 3 min ago	2.04 bp	10.1 bp −$10	25.1 bp −$251	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
ApeX Omni ADAUSDT	−0.0012%	1h	0.2452	+0.698%	$56K	$587K	50x	as long as short
dYdX ADA-USD	0.0000%	1h	0.2435	−0.011%	$200K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2442	+0.287%	$203K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2435	+0.016%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.478%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2433	−0.082%	$427K	$7.3M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2456	+0.875%	$4K	$80K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2437	+0.100%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDTshort	+0.0100%	8h	0.2436	+0.040%	$1.2M	$966K	75x
Pacifica ADA	+0.0100%	1h	0.2436	+0.048%	$157K	$156K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2436	+0.050%	$101.4M	$373.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2434	−0.041%	$71.4M	$107.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2436	+0.041%	$32.2M	$107.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2435	0.000%	$97.9M	$58.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2437	+0.082%	$50.2M	$50.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2436	+0.045%	$29.8M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2437	+0.082%	$65.2M	$46.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2436	+0.041%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2434	−0.029%	$128K	$423K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2434	−0.036%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	+0.636%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.701%	$295K	$3.7M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2436	+0.037%	$93K	$655K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2435	0.000%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	+0.068%	$39K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2437	+0.083%	$9K	$771K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2435	+0.021%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2436	+0.057%	$1.3M	$5.7M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2435	long leg	$47.4M	$6.4M	50x
Extended ADA-USD	+0.0104%	1h	0.2436	+0.059%	$530K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2439	+0.164%	$20K	$250	20x	as long as short
Lighter ADA	+0.0112%	1h	0.2437	+0.086%	$2.4M	$1.0M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0120%	1h	0.2436	+0.049%	$487K	$462K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	+0.493%	$4.4M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2436	+0.022%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0357%	1h	0.2435	0.000%	$6.2M	$12.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0393%	1h	0.2434	−0.035%	$140K	—	100x	as long as short