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: Binance against Phemex−0.176%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$350.351% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.176%, 7d avg +0.006%

Together, before fees−0.074%−$7 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: Binance is 0.182% cheaper against Phemex than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2481	0.0100	pay 0.0100% / 8h	4h 28m	$48.4M	$6.6M	50x
Short	Binance ADAUSDT	0.2477	0.0100	get 0.0100% / 8h	4h 28m	$105.0M	$370.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.176%Rate

Funding earned: $0
Price spread: −0.176% → +0.006%: −$18.17
Slippage, 4 orders: −$13.1
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$53.28
Costs to cover: 0.351%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Binance: live order book, 15 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	4.06 bp	10.1 bp −$10	14.1 bp −$141	37.3 bp −$3,734	doesn't fit
Sell Binance live order book, 15 min ago	2.04 bp	7.0 bp −$7	11.9 bp −$119	26.5 bp −$2,645	76.3 bp −$38.1K

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	0.2482	+0.042%	$204K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2483	+0.081%	$150K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2481	+0.019%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.403%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2481	0.000%	$429K	$7.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0091%	1h	0.2482	+0.049%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2482	+0.040%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2478	−0.121%	$1.2M	$985K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2483	+0.093%	$161K	$160K	10x	as long as short
Binance ADAUSDTshort	+0.0100%	8h	0.2477	−0.176%	$105.0M	$370.1M	75x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2476	−0.202%	$72.2M	$108.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2478	−0.121%	$33.0M	$105.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2475	−0.242%	$98.9M	$59.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2476	−0.202%	$60.6M	$60.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2476	−0.193%	$29.9M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2476	−0.202%	$66.6M	$49.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2475	−0.242%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2479	−0.073%	$126K	$442K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2475	−0.239%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2477	−0.180%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2476	−0.193%	$295K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2466	−0.605%	$227K	$743K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2483	+0.089%	$95K	$688K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2483	+0.081%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2483	+0.088%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2484	+0.121%	$9K	$731K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2482	+0.060%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2482	+0.059%	$1.3M	$6.4M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2481	long leg	$48.4M	$6.6M	50x
Extended ADA-USD	+0.0104%	1h	0.2476	−0.207%	$536K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2483	+0.083%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0187%	1h	0.2479	−0.064%	$43.0M	$14.8M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2482	+0.020%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2485	+0.161%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2484	+0.121%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0596%	1h	0.2484	+0.113%	$603K	$489K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0597% / S −0.0547%	1h	0.2481	+0.004%	$134K	—	100x	as long as short