Funding you earn now, next payment 01:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h +0.006%
Price spread now: Bybit against Phoenix−0.240%75s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.218%+$22 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.240% cheaper against Phoenix than usual: you would sell low and buy high (−$24 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.218%, so the current rate has only just turned against you. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.
| 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 05s | $4K | $87K | 10x |
| Short | Bybit ADAUSDT | 0.2450 | 0.0100 | get 0.0100% / 8h | 6h 10m | $72.1M | $108.5M | 75x |
Phoenix ADA
Bybit ADAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$13.26
- Price spread: −0.240% → 0.000%
- −$24.02
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$55.28
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago | 2.04 bp | 7.5 bp −$8 | 11.9 bp −$119 | 31.9 bp −$3,194 | 136.9 bp −$68.4K |
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 | 0.2453 | −0.112% | $202K | $3K | 10x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2450 | −0.224% | $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 | 0.2456 | +0.004% | $406K | $7.4M | 50x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2451 | −0.195% | $42.7M | $14.4M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2453 | −0.118% | $1.2M | $976K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2455 | −0.054% | $158K | $157K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2451 | −0.217% | $102.9M | $371.1M | 75x | as long as short |
| Bybit ADAUSDTshort | +0.0100% | 8h | 0.2450 | −0.240% | $72.1M | $108.5M | 75x | |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2450 | −0.240% | $32.6M | $107.0M | 50x | as long as short |
dYdX ADA-USD
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTX
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
OKX ADA-USDT-SWAPShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ADA_USDT | +0.0100% | 8h | 0.2448 | −0.322% | $97.8M | $60.3M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2449 | −0.281% | $58.9M | $52.9M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2451 | −0.208% | $29.8M | $17.6M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2449 | −0.281% | $65.5M | $47.1M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2451 | −0.200% | — | $20.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2449 | −0.273% | $129K | $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 | 0.2453 | −0.134% | $93K | $670K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2450 | −0.240% | $6K | $16K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2452 | −0.169% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2453 | −0.121% | $9K | $760K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2451 | −0.195% | $337 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2451 | −0.213% | $1.3M | $5.8M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2450 | −0.240% | $47.7M | $6.3M | 50x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2451 | −0.204% | $532K | $1.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0108% | 8h | 0.2455 | −0.034% | $21K | $250 | 20x | as long as short |
| Kalshi KXADAPERP | +0.0108% | 8h | 0.2454 | −0.077% | $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 | 0.2453 | −0.126% | $2.4M | $1.0M | 10x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0240% | 1h | 0.2451 | −0.187% | $501K | $470K | 50x | as long as short |
| Reya ADARUSDPERP | +0.0281% | 1h | 0.2452 | −0.159% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0354% | 1h | 0.2451 | −0.218% | $6.2M | $12.1M | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0415% / S −0.0202% | 1h | 0.2450 | −0.241% | $95K | — | 100x | as long as short |
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Extended ADA-USD
Paradex ADA-USD-PERP
Kalshi KXADAPERP
Lighter ADA
Deribit ADA_USDC-PERPETUAL
Reya ADARUSDPERP
Kraken Futures PF_ADAUSD
GMX ADA/USD [WBTC.b-USDC]