Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.009%

Price spread now: Coinbase International against SunX−0.037%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$740.740% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 3 days (all we have)−0.027%−$3 · spread now −0.037%, 7d avg −0.057%

Together, before fees−0.205%−$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.057%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ADA-USDT	0.2448	0.0100	pay 0.0100% / 8h	6h 08m	$8K	$759K	30x
Short	Coinbase International ADA-PERP-INTX	0.2447	0.0048	get 0.0006% / 1h	8m 40s	$404K	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$10.92
Price spread: −0.037% → −0.057%: $1.97
Slippage, 4 orders: −$56.04
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$82.99
Costs to cover: 0.740%
Break-even: never at this rate

Slippage from SunX: live order book, 33 min ago; Coinbase International: live order book, 5 min ago.

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 SunX live order book, 33 min ago	20.79 bp	24.8 bp −$25	31.7 bp −$317	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	4.07 bp	12.9 bp −$13	17.3 bp −$173	doesn't fit	doesn't fit

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	0.2449	+0.025%	$201K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	−0.103%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.944%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0048%	1h	0.2447	−0.037%	$404K	$7.4M	50x
Hyperliquid ADA	+0.0100%	1h	0.2450	+0.098%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2449	+0.033%	$1.2M	$977K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	+0.074%	$157K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2450	+0.080%	$102.8M	$371.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2449	+0.045%	$72.1M	$108.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	+0.086%	$32.6M	$106.6M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2447	−0.037%	$97.9M	$60.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	+0.045%	$58.9M	$52.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2449	+0.049%	$29.8M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2448	+0.004%	$65.7M	$47.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2448	+0.004%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	−0.069%	$129K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	+0.293%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.331%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	+0.267%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.249%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2446	−0.065%	$93K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2446	−0.078%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2447	−0.035%	$40K	$3K	5x	as long as short
SunX ADA-USDTlong	+0.0100%	8h	0.2448	long leg	$8K	$759K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.033%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	−0.068%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	−0.078%	$47.6M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	+0.061%	$532K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0107%	8h	0.2449	+0.045%	$163K	$6.3M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2450	+0.090%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	+0.327%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0192%	1h	0.2451	+0.135%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2446	−0.078%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0355%	1h	0.2446	−0.077%	$6.2M	$12.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0363%	1h	0.2447	−0.029%	$500K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0415% / S −0.0202%	1h	0.2445	−0.114%	$95K	—	100x	as long as short