Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h +0.006%

Price spread now: Bitget against Phoenix+0.004%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.240%+$24 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.240%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ADA	0.2456	0.0163	pay 0.0020% / 1h	10m 59s	$4K	$87K	10x
Short	Bitget ADAUSDT	0.2456	0.0100	get 0.0100% / 8h	6h 10m	$65.7M	$47.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phoenix. 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 PhoenixbpFee BitgetbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$13.26
Price spread: +0.004% → 0.000%: $0.41
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$31.85
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Bitget: live order book, 3 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 Phoenix no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	2.04 bp	8.0 bp −$8	12.2 bp −$122	27.3 bp −$2,728	90.0 bp −$45.0K

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ADA on 36 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	0.2455	−0.055%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.063%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.615%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2457	+0.045%	$400K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2460	+0.183%	$42.9M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2458	+0.086%	$1.2M	$971K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2456	−0.009%	$158K	$157K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	+0.017%	$103.1M	$371.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2456	+0.004%	$72.2M	$108.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2456	+0.004%	$32.7M	$107.4M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2456	+0.004%	$98.1M	$60.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2458	+0.086%	$59.1M	$52.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	+0.073%	$29.9M	$17.6M	75x	as long as short
Bitget ADAUSDTshort	+0.0100%	8h	0.2456	+0.004%	$65.7M	$47.0M	75x
BingX ADA-USDT	+0.0100%	8h	0.2457	+0.045%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2459	+0.106%	$130K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	−0.034%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.138%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2455	−0.056%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.045%	$56K	$590K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	−0.041%	$94K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.004%	$6K	$26K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2458	+0.075%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	+0.001%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2459	+0.106%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2457	+0.044%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	+0.086%	$47.8M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2458	+0.101%	$532K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2455	−0.026%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0108%	8h	0.2456	+0.004%	$163K	$6.3M	3.2x	as long as short
Phoenix ADAlong	+0.0163%	1h	0.2456	long leg	$4K	$87K	10x
Lighter ADA	+0.0200%	1h	0.2461	+0.195%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2455	−0.037%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0353%	1h	0.2459	+0.129%	$6.2M	$12.1M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0401%	1h	0.2458	+0.098%	$503K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2454	−0.072%	$95K	—	100x	as long as short