Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0182%/8h= +20.0% APRpaid last 24h +0.060%

Price spread now: Reya against Variational Omni−0.205%7-day average — · you buy dearer than you sell

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

Long on Variational Omni 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 airdropVariational Omni: Active · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.205% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.205% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 3.8 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ADA	0.2465	0.0100	pay 0.0100% / 8h	7h 18m	$4.2M	$967K	—
Short	Reya ADARUSDPERP	0.2460	0.0282	get 0.0035% / 1h	18m 16s	$1K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.205%Rate

Funding earned: $38.27
Price spread: −0.205% → 0.000%: −$20.54
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $11.74
Costs to cover: 0.060%
Break-even: 4.9 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; 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 Variational Omni RFQ quote, 1 min ago	8.12 bp	doesn't fit	12.2 bp −$122	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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	0.2455	−0.429%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2460	−0.207%	$189K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2462	−0.144%	$87K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.240%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2456	−0.369%	$410K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2466	+0.049%	$6.2M	$11.7M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2466	+0.037%	$4K	$84K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2460	−0.196%	$1.2M	$950K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2456	−0.357%	$158K	$150K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2467	+0.086%	$102.8M	$366.0M	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	0.2467	+0.077%	$72.4M	$104.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2469	+0.158%	$32.6M	$107.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2467	+0.077%	$98.6M	$59.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2467	+0.077%	$53.3M	$51.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2464	−0.044%	$30.3M	$17.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2468	+0.118%	$66.3M	$44.5M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2469	+0.158%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2469	+0.175%	$131K	$415K	15x	as long as short
Variational Omni ADAlong	+0.0100%	8h	0.2465	long leg	$4.2M	$967K	—
edgeX ADAUSDC	+0.0100%	4h	0.2466	+0.044%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2466	+0.037%	$292K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2466	+0.037%	$56K	$585K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	−0.219%	$94K	$649K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2464	−0.044%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2465	+0.001%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2462	−0.127%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2465	−0.008%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2461	−0.159%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2466	+0.037%	$48.2M	$5.7M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2457	−0.336%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2464	−0.045%	$537K	$1.8M	50x	as long as short
Lighter ADA	+0.0176%	1h	0.2468	+0.106%	$2.5M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0219%	1h	0.2471	+0.227%	$43.2M	$14.2M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2461	−0.166%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERPshort	+0.0282%	1h	0.2460	−0.205%	$1K	—	15x
GMX ADA/USD [WBTC.b-USDC]	L +0.0626% / S −0.0393%	1h	0.2462	−0.125%	$142K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4756%	1h	0.2525	+2.430%	$507K	$433K	50x	as long as short