ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0084%/8h= +9.2% APRnext payment +$0.10 per $10,000 · paid last 24h +0.060%

Price spread now: Reya against Phoenix−0.260%59s7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.260% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.260% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 10 days of funding at the current rate (+$3 a day). The two prices were read 59 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	0.2459	0.0195	pay 0.0024% / 1h	51m 43s	$4K	$100K	10x
Short	Reya ADARUSDPERP	0.2453	0.0279	get 0.0035% / 1h	51m 43s	$1K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.260%Rate

Funding earned: $17.56
Price spread: −0.260% → 0.000%: −$25.99
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: −$21.43
Costs to cover: 0.130%
Break-even: 15.5 days

Slippage unknown: Phoenix: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Phoenix and Reya: 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	0.2450	−0.400%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2452	−0.301%	$145K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2450	−0.366%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.472%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2456	−0.138%	$412K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2451	−0.342%	$6.2M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	−0.309%	$2.4M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2452	−0.309%	$42.6M	$14.9M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2451	−0.344%	$1.2M	$980K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2451	−0.361%	$159K	$161K	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	0.2451	−0.361%	$103.5M	$372.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2450	−0.382%	$71.5M	$111.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2451	−0.342%	$32.6M	$105.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2448	−0.464%	$97.9M	$58.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	−0.423%	$61.1M	$59.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	−0.382%	$29.6M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2450	−0.382%	$65.8M	$50.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2450	−0.382%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2451	−0.325%	$125K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	+0.110%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2461	+0.076%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.359%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2449	−0.423%	$226K	$740K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	−0.248%	$92K	$684K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	−0.342%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	−0.292%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	−0.219%	$9K	$740K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	−0.321%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2453	−0.273%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2452	−0.301%	$47.8M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	−0.409%	$530K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2451	−0.347%	$21K	$250	20x	as long as short
Phoenix ADAlong	+0.0195%	1h	0.2459	long leg	$4K	$100K	10x
BloFin ADA-USDT	+0.0220%	8h	0.2461	+0.065%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERPshort	+0.0279%	1h	0.2453	−0.260%	$1K	—	15x
Deribit ADA_USDC-PERPETUAL	+0.0444%	1h	0.2453	−0.276%	$586K	$486K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0625% / S −0.0463%	1h	0.2451	−0.353%	$149K	—	100x	as long as short