ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0065%/8h= −7.1% APRnext payment −$0.08 per $10,000 · paid last 24h +0.004%

Price spread now: Injective against Phoenix+1.237%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 Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.195%+$20 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 1.237% dearer against Phoenix than usual: you sell high and buy low (spread +1.237% now, against zero (this spread has no 7-day history yet)): +$124 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. Mind the row above: over the last 7 days funding on this pair paid +0.195%, 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	0.2441	0.0098	pay 0.0012% / 1h	54m 35s	$4K	$87K	10x
Short	Injective ADA/USDC PERP	0.2471	0.0033	get 0.0004% / 1h	54m 35s	$849	$202K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.237%Rate

Funding earned: −$13.55
Price spread: +1.237% → 0.000%: $123.73
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $103.16
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

Phoenix and Injective: 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
ApeX Omni ADAUSDT	−0.0012%	1h	0.2452	+0.459%	$56K	$587K	50x	as long as short
dYdX ADA-USD	0.0000%	1h	0.2437	−0.176%	$200K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2435	−0.238%	$207K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2434	−0.260%	$83K	—	150x	as long as short
Injective ADA/USDC PERPshort	+0.0033%	1h	0.2471	+1.237%	$849	$202K	12x
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2432	−0.361%	$427K	$7.3M	50x	as long as short
Phoenix ADAlong	+0.0098%	1h	0.2441	long leg	$4K	$87K	10x
Hyperliquid ADA	+0.0100%	1h	0.2435	−0.238%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2436	−0.183%	$1.2M	$966K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2438	−0.131%	$157K	$156K	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	0.2433	−0.320%	$101.3M	$373.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2434	−0.279%	$71.5M	$107.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2435	−0.238%	$32.2M	$107.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2435	−0.238%	$97.8M	$58.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2436	−0.197%	$50.0M	$50.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2438	−0.123%	$29.8M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2434	−0.279%	$65.1M	$46.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2435	−0.238%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2436	−0.180%	$128K	$424K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2434	−0.274%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	+0.397%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.462%	$295K	$3.7M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2434	−0.299%	$92K	$653K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2434	−0.279%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2436	−0.181%	$39K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2436	−0.196%	$9K	$772K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2435	−0.217%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2438	−0.130%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2436	−0.197%	$47.4M	$6.4M	50x	as long as short
Lighter ADA	+0.0104%	1h	0.2440	−0.016%	$2.4M	$1.0M	10x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2435	−0.220%	$530K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2437	−0.169%	$20K	$250	20x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0161%	1h	0.2435	−0.221%	$487K	$462K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2436	−0.197%	$4.5M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2434	−0.298%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0357%	1h	0.2435	−0.233%	$6.1M	$12.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0393%	1h	0.2435	−0.241%	$140K	—	100x	as long as short