Funding you earn now, next payment 22:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h +0.011%
Price spread now: Phemex against Phoenix−0.049%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.243%+$24 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 −$1 a day on $10k at the current rate, and Phemex is 0.049% cheaper against Phoenix than usual: you would sell low and buy high (−$5 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 +0.243%, 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 | 0.2455 | 0.0131 | pay 0.0016% / 1h | 12m 29s | $4K | $74K | 10x |
| Short | Phemex ADAUSDT | 0.2454 | 0.0100 | get 0.0100% / 8h | 1h 12m | $47.8M | $5.8M | 50x |
Phoenix ADA
Phemex ADAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$6.46
- Price spread: −0.049% → 0.000%
- −$4.89
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$30.34
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Phemex: live order book, 7 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 Phemex live order book, 7 min ago | 2.04 bp | 8.0 bp −$8 | 14.9 bp −$149 | 36.8 bp −$3,684 | 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 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 | 0.2456 | +0.015% | $202K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2456 | +0.033% | $154K | $6.0M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2456 | +0.013% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0064% | 1h | 0.2459 | +0.155% | $411K | $7.3M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0095% | 1h | 0.2454 | −0.045% | $6.2M | $11.6M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2457 | +0.081% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2457 | +0.057% | $42.5M | $14.3M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2456 | +0.024% | $1.2M | $922K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2456 | +0.037% | $157K | $146K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2456 | +0.033% | $102.0M | $360.3M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Kraken Futures PF_ADAUSD
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2456 | +0.033% | $71.5M | $102.3M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2456 | +0.033% | $31.9M | $105.9M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2454 | −0.049% | $97.0M | $59.3M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2456 | +0.033% | $52.8M | $51.1M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2456 | +0.016% | $30.2M | $18.2M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2455 | −0.008% | $65.8M | $43.3M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2455 | −0.008% | — | $18.0M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2455 | −0.012% | $101K | $415K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2458 | +0.122% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2459 | +0.149% | $66K | $281K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2458 | +0.122% | $292K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2460 | +0.196% | $55K | $581K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2456 | +0.016% | $96K | $625K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2456 | +0.033% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2453 | −0.073% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2454 | −0.046% | $9K | $760K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2454 | −0.057% | $337 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2453 | −0.073% | $1.3M | $5.3M | 75x | as long as short |
| Phemex ADAUSDTshort | +0.0100% | 8h | 0.2454 | −0.049% | $47.8M | $5.8M | 50x | |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2456 | +0.036% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2455 | −0.008% | $554K | $1.8M | 50x | as long as short |
| Phoenix ADAlong | +0.0131% | 1h | 0.2455 | long leg | $4K | $74K | 10x | |
| Deribit ADA_USDC-PERPETUAL | +0.0158% | 1h | 0.2454 | −0.053% | $479K | $351K | 50x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2454 | −0.049% | $4.4M | $5.4M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0285% | 1h | 0.2456 | +0.036% | $1K | — | 15x | as long as short |
| Injective ADA/USDC PERP | +0.0288% | 1h | 0.2471 | +0.644% | $849 | $202K | 12x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0566% / S −0.0313% | 1h | 0.2455 | +0.004% | $122K | — | 100x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
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
Paradex ADA-USD-PERP
Extended ADA-USD
Deribit ADA_USDC-PERPETUAL
BloFin ADA-USDT
Reya ADARUSDPERP
Injective ADA/USDC PERP
GMX ADA/USD [WBTC.b-USDC]