Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0237%/8h= +25.9% APRpaid last 24h +0.002%

Price spread now: Kraken Futures against Variational Omni+0.063%7-day average +0.020% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 3 days (all we have)+0.224%+$22 · spread now +0.063%, 7d avg +0.020%

Together, before fees+0.241%+ Points / potential airdropVariational Omni: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.043% dearer against Variational Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.020%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.017% in total (about 1.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ADA	0.2448	0.0100	pay 0.0100% / 8h	2h 36m	$4.2M	$1.0M	—
Short	Kraken Futures PF_ADAUSD	0.2449	0.0337	get 0.0042% / 1h	36m 42s	$6.1M	$11.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.063%Rate

Funding earned: $49.77
Price spread: +0.063% → +0.020%: $4.3
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $44.07
Costs to cover: 0.100%
Break-even: 0.8 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Kraken Futures: live order book, 2 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 Variational Omni RFQ quote, 2 min ago	6.15 bp	doesn't fit	14.4 bp −$144	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	2.26 bp	14.7 bp −$15	19.0 bp −$190	74.0 bp −$7,396	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	−0.120%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2445	−0.103%	$153K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	+0.051%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2448	+0.020%	$407K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2446	−0.050%	$2.4M	$1.3M	10x	as long as short
Gate ADA_USDT	+0.0098%	8h	0.2445	−0.103%	$96.8M	$57.4M	75x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	−0.033%	$42.4M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2447	−0.027%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2448	+0.004%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2445	−0.089%	$100.8M	$355.3M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2444	−0.144%	$70.4M	$99.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2444	−0.144%	$31.8M	$104.9M	50x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2446	−0.062%	$52.3M	$56.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	+0.012%	$30.4M	$18.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2446	−0.062%	$65.5M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2446	−0.062%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	+0.093%	$101K	$412K	15x	as long as short
Variational Omni ADAlong	+0.0100%	8h	0.2448	long leg	$4.2M	$1.0M	—
edgeX ADAUSDC	+0.0100%	4h	0.2442	−0.214%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	+0.017%	$286K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2448	+0.020%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	+0.053%	$96K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2449	+0.061%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2449	+0.065%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	+0.101%	$9K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2449	+0.069%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2449	+0.065%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2448	+0.020%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2450	+0.082%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2446	−0.052%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2447	−0.025%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2451	+0.143%	$4.4M	$5.4M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0281%	1h	0.2450	+0.118%	$476K	$354K	50x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2449	+0.054%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0337%	1h	0.2449	+0.063%	$6.1M	$11.4M	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0521% / S −0.0277%	1h	0.2448	+0.033%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.307%	$838	$131K	12x	as long as short