Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Aster against Backpack−0.012%55s7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.370% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.012%, 7d avg +0.029%

Together, before fees+0.271%+ Points / potential airdropAster: Stage 5 · farm board+$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.041% cheaper against Backpack than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.029%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ADA_USDC_PERP	0.2446	0.0100	pay 0.0013% / 1h	44m 20s	$101K	$412K	15x
Short	Aster ADAUSDT	0.2446	0.0100	get 0.0100% / 8h	2h 44m	$1.2M	$1.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.012%Rate

Funding earned: $0
Price spread: −0.012% → +0.029%: −$4.12
Slippage, 4 orders: −$19.02
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$41.14
Costs to cover: 0.370%
Break-even: never at this rate

Slippage from Backpack: live order book, 44 min ago; Aster: live order book, 4 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 Backpack live order book, 44 min ago	1.62 bp	6.6 bp −$7	7.9 bp −$79	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	2.04 bp	10.3 bp −$10	22.7 bp −$227	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
dYdX ADA-USD	0.0000%	1h	0.2445	−0.063%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2445	−0.053%	$152K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2447	+0.020%	$475K	$353K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2446	−0.023%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2444	−0.094%	$408K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2447	+0.029%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2446	+0.004%	$42.4M	$14.5M	10x	as long as short
Aster ADAUSDTshort	+0.0100%	8h	0.2446	−0.012%	$1.2M	$1.0M	75x
Pacifica ADA	+0.0100%	1h	0.2445	−0.057%	$156K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2446	−0.017%	$100.7M	$354.3M	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	0.2445	−0.053%	$70.4M	$99.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2446	−0.012%	$32.1M	$104.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2444	−0.094%	$96.9M	$57.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2445	−0.053%	$52.6M	$56.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	−0.053%	$30.4M	$18.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2445	−0.053%	$65.5M	$42.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2445	−0.053%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERPlong	+0.0100%	1h	0.2446	long leg	$101K	$412K	15x
Variational Omni ADA	+0.0100%	8h	0.2446	−0.032%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2448	+0.050%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2446	+0.005%	$286K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	+0.029%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2446	−0.012%	$96K	$679K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2446	−0.012%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2446	+0.007%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2446	−0.013%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	−0.033%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2444	−0.086%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2445	−0.053%	$47.7M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2446	−0.032%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2445	−0.045%	$560K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2449	+0.123%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	+0.029%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2446	0.000%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0338%	1h	0.2445	−0.044%	$6.1M	$11.5M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0520% / S −0.0277%	1h	0.2445	−0.038%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.437%	$844	$95K	12x	as long as short