Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h +0.009%

Price spread now: Kraken Futures against SunX−0.048%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$780.782% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 3 days (all we have)+0.155%+$16 · spread now −0.048%, 7d avg −0.022%

Together, before fees+0.076%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.026% cheaper against SunX than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of −0.022%). If the spread goes back, that is −$3 on $10k: about 6.4 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.079%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ADA-USDT	0.2445	0.0100	pay 0.0100% / 8h	6m 12s	$9K	$768K	30x
Short	Kraken Futures PF_ADAUSD	0.2444	0.0114	get 0.0014% / 1h	6m 12s	$6.1M	$11.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.048%Rate

Funding earned: $2.88
Price spread: −0.048% → −0.022%: −$2.63
Slippage, 4 orders: −$60.2
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$77.95
Costs to cover: 0.782%
Break-even: 196.1 days

Slippage from SunX: live order book, 56 min ago; Kraken Futures: live order book, 3 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, 56 min ago	20.78 bp	24.8 bp −$25	31.6 bp −$316	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	0.82 bp	14.9 bp −$15	17.5 bp −$175	47.8 bp −$4,782	doesn't fit

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	0.2445	−0.014%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2445	−0.001%	$213K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2443	−0.101%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2445	−0.001%	$405K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2445	+0.015%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2446	+0.044%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2444	−0.050%	$1.2M	$931K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2446	+0.021%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2443	−0.070%	$101.0M	$366.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2443	−0.083%	$71.1M	$104.0M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2446	+0.040%	$32.3M	$107.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2443	−0.083%	$97.5M	$60.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2443	−0.083%	$52.3M	$51.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	−0.013%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2445	−0.001%	$65.7M	$43.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2444	−0.042%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2445	−0.018%	$106K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2441	−0.158%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2446	+0.027%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.041%	$290K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2445	−0.001%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2443	−0.091%	$94K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2443	−0.083%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2443	−0.086%	$40K	$3K	5x	as long as short
SunX ADA-USDTlong	+0.0100%	8h	0.2445	long leg	$9K	$768K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2444	−0.063%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2443	−0.064%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2444	−0.042%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2445	+0.010%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2442	−0.123%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0114%	1h	0.2444	−0.048%	$6.1M	$11.7M	50x
Phoenix ADA	+0.0130%	1h	0.2446	+0.023%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2442	−0.124%	$4.3M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.062%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2442	−0.121%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0364%	1h	0.2444	−0.042%	$490K	$430K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2442	−0.126%	$121K	—	100x	as long as short