Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0025%/8h= +2.8% APRpaid last 24h +0.050%

Price spread now: BloFin against Phoenix−0.053%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.475%+$48 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.053% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 7.0 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.475% in total) that is about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ADA	0.2449	0.0195	pay 0.0024% / 1h	47m 19s	$4K	$82K	10x
Short	BloFin ADA-USDT	0.2448	0.0220	get 0.0220% / 8h	2h 47m	$4.4M	$5.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.053%Rate

Funding earned: $5.34
Price spread: −0.053% → 0.000%: −$5.31
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$18.96
Costs to cover: 0.190%
Break-even: 31.8 days

Slippage unknown: Phoenix: no order-book sample; BloFin: live order book, 6 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 BloFin live order book, 6 min ago	6.11 bp	12.1 bp −$12	15.8 bp −$158	26.9 bp −$2,691	67.9 bp −$33.9K

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 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	0.2447	−0.088%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2447	−0.094%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2448	−0.057%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2446	−0.135%	$409K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2448	−0.041%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	−0.086%	$42.3M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2447	−0.089%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2446	−0.120%	$156K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2449	−0.026%	$100.8M	$354.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2447	−0.094%	$70.5M	$99.4M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2447	−0.094%	$32.1M	$104.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2446	−0.135%	$96.9M	$57.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	−0.094%	$52.7M	$56.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2446	−0.122%	$30.5M	$18.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2448	−0.053%	$65.3M	$42.6M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2448	−0.053%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	−0.069%	$104K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2447	−0.114%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2448	−0.059%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2447	−0.104%	$286K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2448	−0.053%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2447	−0.090%	$96K	$701K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2448	−0.053%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	−0.053%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	−0.054%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.098%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	−0.117%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2447	−0.094%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2447	−0.076%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.102%	$560K	$1.8M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0118%	1h	0.2449	−0.024%	$475K	$354K	50x	as long as short
Phoenix ADAlong	+0.0195%	1h	0.2449	long leg	$4K	$82K	10x
BloFin ADA-USDTshort	+0.0220%	8h	0.2448	−0.053%	$4.4M	$5.4M	75x
Reya ADARUSDPERP	+0.0287%	1h	0.2448	−0.034%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2447	−0.096%	$6.1M	$11.5M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0521% / S −0.0277%	1h	0.2447	−0.084%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.314%	$844	$95K	12x	as long as short