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: KuCoin against Phemex+0.089%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$450.450% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 4 days (all we have)−0.254%−$25 · spread now +0.089%, 7d avg −0.005%

Together, before fees−0.281%−$28 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: KuCoin is 0.094% dearer against Phemex than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.005%.

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	3h 00m	$48.0M	$7.0M	50x
Short	KuCoin ADAUSDTM	0.2466	0.0100	get 0.0100% / 8h	3h 00m	$29.6M	$15.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.089%Rate

Funding earned: $0
Price spread: +0.089% → −0.005%: $9.42
Slippage, 4 orders: −$21.04
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$35.62
Costs to cover: 0.450%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; KuCoin: 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	2.02 bp	8.0 bp −$8	11.9 bp −$119	39.1 bp −$3,909	doesn't fit
Sell KuCoin live order book, 4 min ago	3.44 bp	14.0 bp −$14	24.9 bp −$249	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	0.2466	+0.061%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2466	+0.081%	$136K	$6.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2465	+0.056%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2464	+0.011%	$6.3M	$13.3M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.284%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2465	+0.041%	$404K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2467	+0.138%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2466	+0.068%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2466	+0.079%	$158K	$170K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2465	+0.060%	$103.8M	$392.0M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2465	+0.041%	$73.9M	$116.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2465	+0.041%	$33.0M	$111.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2464	0.000%	$99.7M	$63.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2465	+0.041%	$58.9M	$62.9M	300x	as long as short
KuCoin ADAUSDTMshort	+0.0100%	8h	0.2466	+0.089%	$29.6M	$15.4M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2465	+0.041%	$66.9M	$51.5M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2465	+0.041%	—	$6.6M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2466	+0.084%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2471	+0.276%	$66K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2473	+0.374%	$290K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2467	+0.122%	$227K	$757K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2466	+0.093%	$93K	$633K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2465	+0.041%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2466	+0.082%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2467	+0.120%	$8K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2465	+0.061%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2466	+0.084%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2464	long leg	$48.0M	$7.0M	50x
Paradex ADA-USD-PERP	+0.0101%	8h	0.2466	+0.080%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2465	+0.034%	$536K	$1.8M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0118%	1h	0.2468	+0.166%	$123K	$456K	15x	as long as short
Phoenix ADA	+0.0161%	1h	0.2470	+0.252%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2466	+0.081%	$4.5M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0223%	1h	0.2467	+0.134%	$43.9M	$16.3M	10x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2466	+0.061%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0277%	1h	0.2467	+0.101%	$606K	$533K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0585%	1h	0.2465	+0.030%	$140K	—	100x	as long as short