Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Kalshi against ApeX Omni+0.568%7-day average −0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs+$17as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on ApeX Omni Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.287%−$29 on $10k

Price spread, last 4 days (all we have)−0.568%−$57 · spread now +0.568%, 7d avg −0.083%

Together, before fees−0.855%−$85 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.651% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.568% now, against its 7-day average of −0.083%): +$65 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ADAUSDT	0.2464	0.0100	pay 0.0013% / 1h	21m 19s	$74K	$895K	50x
Short	Kalshi KXADAPERP	0.2478	0	get 0.0000% / 8h	3h 21m	$194K	$7.7M	3.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against ApeX 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 ApeX OmnibpFee KalshibpOrdersPrice spread, now +0.568%Rate

Funding earned: −$21
Price spread: +0.568% → −0.083%: $65.09
Slippage, 4 orders: −$27.98
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$3.89
Costs to cover: 0.480%
Break-even: from the start

Slippage from ApeX Omni: live order book, 13 min ago; Kalshi: live order book, 2 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 ApeX Omni live order book, 13 min ago	8.18 bp	15.5 bp −$16	46.6 bp −$466	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	4.06 bp	9.6 bp −$10	18.3 bp −$183	doesn't fit	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
Kalshi KXADAPERPshort	0.0000%	8h	0.2478	+0.568%	$194K	$7.7M	3.2x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2472	+0.304%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.284%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2481	+0.698%	$2.4M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2477	+0.536%	$43.5M	$18.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2480	+0.649%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2474	+0.410%	$158K	$181K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2482	+0.713%	$105.1M	$405.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2480	+0.649%	$73.8M	$126.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2482	+0.731%	$33.0M	$118.6M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2479	+0.609%	$101.2M	$62.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2481	+0.690%	$58.6M	$68.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2480	+0.641%	$29.9M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2481	+0.690%	$67.2M	$53.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2479	+0.609%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2475	+0.442%	$138K	$483K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2441	−0.932%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2464	−0.018%	$66K	$288K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2464	−0.012%	$293K	$3.8M	10x	as long as short
ApeX Omni ADAUSDTlong	+0.0100%	1h	0.2464	long leg	$74K	$895K	50x
Polymarket Perps ADA-USD	+0.0100%	1h	0.2475	+0.426%	$117K	$1.4M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2481	+0.690%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2438	−1.040%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2482	+0.748%	$8K	$745K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2480	+0.670%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2481	+0.680%	$1.3M	$7.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2479	+0.609%	$47.9M	$7.7M	50x	as long as short
Paradex ADA-USD-PERP	+0.0103%	8h	0.2475	+0.455%	$21K	—	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2480	+0.666%	$541K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0152%	1h	0.2479	+0.609%	$369K	$8.5M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2472	+0.304%	$3K	$113K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0197%	1h	0.2480	+0.666%	$6.4M	$14.0M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2478	+0.568%	$4.6M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0272%	1h	0.2476	+0.469%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0370% / S −0.0295%	1h	0.2479	+0.612%	$88K	—	100x	as long as short
dYdX ADA-USD	+0.0713%	1h	0.2475	+0.426%	$207K	$5K	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0718%	1h	0.2482	+0.731%	$638K	$737K	50x	as long as short