Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Gate against Phemex−0.041%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$470.468% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 3 days (all we have)−0.185%−$18 · spread now −0.041%, 7d avg −0.042%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2464	0.0100	pay 0.0100% / 8h	1h 55m	$48.1M	$5.8M	50x
Short	Gate ADA_USDT	0.2463	0.0100	get 0.0100% / 8h	1h 55m	$97.1M	$57.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.042%: $0.17
Slippage, 4 orders: −$19.79
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$46.62
Costs to cover: 0.468%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Gate: live order book, 4 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	4.07 bp	10.1 bp −$10	16.6 bp −$166	48.3 bp −$4,828	doesn't fit
Sell Gate live order book, 4 min ago	2.04 bp	13.3 bp −$13	16.7 bp −$167	94.2 bp −$9,419	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	0.2461	−0.131%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2462	−0.081%	$162K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2465	+0.045%	$479K	$351K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2464	−0.015%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2461	−0.122%	$409K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0094%	1h	0.2464	+0.013%	$6.2M	$11.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2466	+0.089%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2465	+0.057%	$42.7M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2465	+0.041%	$1.2M	$998K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2463	−0.050%	$158K	$147K	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	0.2464	0.000%	$102.1M	$355.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2464	0.000%	$70.9M	$99.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2465	+0.041%	$32.0M	$105.7M	50x	as long as short
Gate ADA_USDTshort	+0.0100%	8h	0.2463	−0.041%	$97.1M	$57.3M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2464	0.000%	$53.1M	$50.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2464	+0.004%	$30.4M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2464	0.000%	$65.9M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2464	0.000%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2465	+0.061%	$101K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2460	−0.151%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	−0.571%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.438%	$296K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	−0.365%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2465	+0.041%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2464	0.000%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2464	−0.003%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2465	+0.039%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2464	−0.020%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2466	+0.092%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2464	long leg	$48.1M	$5.8M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2463	−0.039%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2464	+0.004%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2454	−0.402%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2466	+0.081%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2465	+0.050%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−0.771%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2464	−0.020%	$122K	—	100x	as long as short