Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: KuCoin against Backpack−0.008%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.008%, 7d avg +0.002%

Together, before fees+0.147%+$15 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ADA_USDC_PERP	0.2436	0.0100	pay 0.0013% / 1h	25m 12s	$108K	$417K	15x
Short	KuCoin ADAUSDTM	0.2436	0.0100	get 0.0100% / 8h	25m 12s	$29.8M	$18.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → +0.002%: −$1.02
Slippage, 4 orders: −$16.96
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$39.98
Costs to cover: 0.390%
Break-even: never at this rate

Slippage from Backpack: live order book, 53 min ago; KuCoin: 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, 53 min ago	0.20 bp	7.4 bp −$7	9.6 bp −$96	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	0.82 bp	13.3 bp −$13	21.2 bp −$212	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	0.2436	−0.033%	$200K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2435	−0.057%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2435	−0.061%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2436	−0.016%	$402K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2438	+0.053%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2436	−0.029%	$42.2M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2435	−0.038%	$1.2M	$929K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2436	−0.034%	$156K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2436	−0.011%	$101.1M	$364.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2435	−0.057%	$70.6M	$103.5M	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	0.2437	+0.025%	$32.1M	$106.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2435	−0.057%	$96.6M	$59.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2436	−0.016%	$51.8M	$50.9M	300x	as long as short
KuCoin ADAUSDTMshort	+0.0100%	8h	0.2436	−0.008%	$29.8M	$18.0M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2436	−0.016%	$65.5M	$43.5M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2436	−0.016%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERPlong	+0.0100%	1h	0.2436	long leg	$108K	$417K	15x
Variational Omni ADA	+0.0100%	8h	0.2437	+0.034%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2442	+0.231%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	+0.091%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2442	+0.230%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2434	−0.078%	$91K	$637K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2436	−0.016%	$6K	$33K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	+0.009%	$39K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2436	−0.018%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2437	+0.004%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2435	−0.062%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2437	+0.025%	$47.6M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2435	−0.044%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2436	−0.014%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2437	+0.008%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2440	+0.135%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2433	−0.140%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.420%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2435	−0.053%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2435	−0.042%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4745%	1h	0.2497	+2.504%	$502K	$430K	50x	as long as short