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: OKX against Phemex0.000%7-day average +0.005% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$340.342% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now 0.000%, 7d avg +0.005%

Together, before fees−0.085%−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2457	0.0100	pay 0.0100% / 8h	42m 08s	$47.6M	$7.5M	50x
Short	OKX ADA-USDT-SWAP	0.2457	0.0100	get 0.0100% / 8h	42m 08s	$32.7M	$118.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.005%: −$0.47
Slippage, 4 orders: −$12.22
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$34.69
Costs to cover: 0.342%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	4.07 bp	10.1 bp −$10	13.5 bp −$135	43.3 bp −$4,327	doesn't fit
Sell OKX live order book, 2 min ago	2.04 bp	7.0 bp −$7	12.8 bp −$128	38.4 bp −$3,836	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	0.2456	−0.061%	$202K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2457	−0.016%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.570%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2458	+0.041%	$6K	$5K	20x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2459	+0.073%	$43.2M	$18.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2458	+0.037%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2458	+0.024%	$157K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2458	+0.022%	$103.5M	$407.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2458	+0.041%	$73.2M	$125.3M	75x	as long as short
OKX ADA-USDT-SWAPshort	+0.0100%	8h	0.2457	0.000%	$32.7M	$118.6M	50x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2456	−0.041%	$100.8M	$64.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2457	0.000%	$52.5M	$65.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	+0.041%	$29.6M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2457	0.000%	$66.8M	$53.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2457	0.000%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2458	+0.041%	$140K	$486K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2458	+0.042%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2460	+0.104%	$66K	$288K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2455	−0.085%	$299K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	0.000%	$78K	$894K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2458	+0.024%	$126K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.069%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	+0.080%	$8K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	+0.020%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2458	+0.054%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2457	long leg	$47.6M	$7.5M	50x
Extended ADA-USD	+0.0104%	1h	0.2457	−0.006%	$516K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2458	+0.037%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0104%	8h	0.2457	0.000%	$179K	$7.6M	3.2x	as long as short
Lighter ADA	+0.0136%	1h	0.2459	+0.085%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2455	−0.081%	$371K	$8.4M	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	−0.016%	$4K	$112K	10x	as long as short
Reya ADARUSDPERP	+0.0273%	1h	0.2457	+0.020%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0279%	1h	0.2458	+0.021%	$6.3M	$14.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0603% / S −0.0679%	1h	0.2457	−0.004%	$156K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4738%	1h	0.2519	+2.507%	$641K	$614K	50x	as long as short