Funding arb · Price arb /

ADA

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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 0.000%

Price spread now: Variational Omni against Phemex+0.349%7-day average −0.017% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.656%−$66 · spread now +0.349%, 7d avg −0.017%

Together, before fees−0.656%+ Points / potential airdropVariational Omni: Active · farm board−$66 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: Variational Omni is 0.366% dearer against Phemex than usual: you sell high and buy low, +$37 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2439	0.0100	pay 0.0100% / 8h	2h 38m	$47.6M	$5.8M	50x
Short	Variational Omni ADA	0.2448	0.0100	get 0.0100% / 8h	2h 38m	$4.2M	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.349%Rate

Funding earned: $0
Price spread: +0.349% → −0.017%: $36.62
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $24.62
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 6 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

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, 6 min ago	2.04 bp	12.0 bp −$12	19.0 bp −$190	49.5 bp −$4,947	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	6.15 bp	doesn't fit	14.4 bp −$144	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	0.2440	+0.049%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2439	0.000%	$152K	$5.9M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2441	+0.070%	$474K	$354K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2440	+0.031%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2434	−0.205%	$405K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2441	+0.086%	$2.4M	$1.3M	10x	as long as short
Gate ADA_USDT	+0.0097%	8h	0.2439	0.000%	$96.6M	$57.3M	75x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2440	+0.040%	$42.3M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2439	+0.017%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2440	+0.051%	$156K	$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	0.2441	+0.077%	$100.4M	$355.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2440	+0.041%	$70.2M	$99.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2441	+0.082%	$31.7M	$104.8M	50x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2440	+0.041%	$52.4M	$56.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2441	+0.066%	$30.3M	$18.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2440	+0.041%	$65.3M	$42.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2441	+0.082%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2439	−0.016%	$101K	$410K	15x	as long as short
Variational Omni ADAshort	+0.0100%	8h	0.2448	+0.349%	$4.2M	$1.0M	—
edgeX ADAUSDC	+0.0100%	4h	0.2449	+0.393%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	+0.366%	$286K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2448	+0.369%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2440	+0.029%	$96K	$667K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2440	+0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2441	+0.070%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2441	+0.082%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2438	−0.057%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2440	+0.034%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2439	long leg	$47.6M	$5.8M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2441	+0.078%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2440	+0.051%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2447	+0.324%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2438	−0.041%	$4.3M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2440	+0.032%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0339%	1h	0.2438	−0.047%	$6.1M	$11.5M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0520% / S −0.0277%	1h	0.2440	+0.036%	$112K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.738%	$844	$95K	12x	as long as short