Funding you earn now, next payment 01:00 UTC+0.0189%/8h= +20.7% APRnext payment +$0.24 per $10,000 · paid last 24h +0.016%
Price spread now: Kraken Futures against Phoenix+0.231%71s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.225%+$22 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kraken Futures is 0.231% dearer against Phoenix than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 71 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 | 0.2457 | 0.0163 | pay 0.0020% / 1h | 28m 10s | $4K | $87K | 10x |
| Short | Kraken Futures PF_ADAUSD | 0.2463 | 0.0353 | get 0.0044% / 1h | 28m 10s | $6.2M | $12.1M | 50x |
Phoenix ADA
Kraken Futures PF_ADAUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $39.79
- Price spread: +0.231% → 0.000%
- $23.07
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $45.86
- Costs to cover
- 0.170%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Kraken Futures: live order book, 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 1 min ago | 4.28 bp | 12.5 bp −$12 | 16.7 bp −$167 | 57.5 bp −$5,751 | doesn't fit |
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 | −0.077% | $202K | $3K | 10x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2460 | +0.131% | $84K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +0.562% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0048% | 1h | 0.2459 | +0.073% | $401K | $7.4M | 50x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2466 | +0.346% | $43.0M | $14.4M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2461 | +0.135% | $1.2M | $969K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2458 | +0.013% | $159K | $156K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2463 | +0.236% | $102.9M | $373.5M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2462 | +0.195% | $72.4M | $108.8M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2463 | +0.236% | $32.7M | $108.1M | 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
Bybit 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 | 0.2462 | +0.195% | $98.2M | $59.8M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2463 | +0.236% | $49.6M | $51.3M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2462 | +0.187% | $30.1M | $17.6M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2464 | +0.277% | $65.9M | $46.9M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2464 | +0.277% | — | $20.4M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2465 | +0.301% | $126K | $422K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2452 | −0.207% | $4.2M | $991K | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2453 | −0.170% | $65K | $284K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2451 | −0.263% | $289K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2451 | −0.252% | $56K | $587K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2459 | +0.061% | $93K | $665K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2461 | +0.155% | $6K | $27K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2463 | +0.230% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2460 | +0.112% | $9K | $769K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2463 | +0.236% | $339 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2460 | +0.114% | $1.3M | $5.8M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2462 | +0.195% | $47.9M | $6.4M | 50x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2462 | +0.210% | $535K | $1.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0105% | 8h | 0.2459 | +0.079% | $21K | $250 | 20x | as long as short |
| Kalshi KXADAPERP | +0.0112% | 8h | 0.2463 | +0.236% | $149K | $6.3M | 3.2x | as long as short |
| Phoenix ADAlong | +0.0163% | 1h | 0.2457 | long leg | $4K | $87K | 10x | |
| Lighter ADA | +0.0184% | 1h | 0.2465 | +0.301% | $2.5M | $1.0M | 10x | as long as short |
| Reya ADARUSDPERP | +0.0281% | 1h | 0.2459 | +0.074% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSDshort | +0.0353% | 1h | 0.2463 | +0.231% | $6.2M | $12.1M | 50x | |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0416% / S −0.0202% | 1h | 0.2460 | +0.133% | $95K | — | 100x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0562% | 1h | 0.2464 | +0.269% | $504K | $471K | 50x | 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
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]
Deribit ADA_USDC-PERPETUAL