Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.009%

Price spread now: Coinbase International against Binance−0.122%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$350.345% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 3 days (all we have)+0.092%+$9 · spread now −0.122%, 7d avg −0.039%

Together, before fees+0.002%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.083% cheaper against Binance than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ADAUSDT	0.2466	0.0100	pay 0.0100% / 8h	6h 04m	$103.5M	$369.5M	75x
Short	Coinbase International ADA-PERP-INTX	0.2463	0.0048	get 0.0006% / 1h	4m 11s	$403K	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now −0.122%Rate

Funding earned: −$10.92
Price spread: −0.122% → −0.039%: −$8.29
Slippage, 4 orders: −$14.54
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$53.75
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Coinbase International: live order book, 5 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 Binance live order book, 9 min ago	2.04 bp	7.0 bp −$7	11.4 bp −$114	27.7 bp −$2,771	91.5 bp −$45.7K
Sell Coinbase International live order book, 5 min ago	4.09 bp	11.4 bp −$11	16.7 bp −$167	123.2 bp −$12.3K	doesn't fit

ADA on 36 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	0.2464	−0.101%	$203K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2464	−0.074%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.203%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0048%	1h	0.2463	−0.122%	$403K	$7.4M	50x
Hyperliquid ADA	+0.0100%	1h	0.2466	+0.004%	$43.0M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2465	−0.041%	$1.2M	$982K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2466	−0.001%	$158K	$159K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2466	long leg	$103.5M	$369.5M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2464	−0.081%	$72.5M	$108.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2465	−0.041%	$32.8M	$106.7M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2464	−0.081%	$98.9M	$60.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2463	−0.122%	$59.2M	$53.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2464	−0.077%	$30.0M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2464	−0.081%	$66.1M	$47.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2464	−0.081%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2465	−0.032%	$128K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2459	−0.281%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2455	−0.453%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2446	−0.831%	$296K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	−0.446%	$56K	$590K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2466	+0.016%	$94K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2463	−0.122%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2464	−0.067%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2467	+0.035%	$8K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2464	−0.101%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2464	−0.081%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2463	−0.122%	$47.9M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2462	−0.144%	$534K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0106%	8h	0.2460	−0.243%	$148K	$6.2M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2466	−0.014%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2449	−0.710%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0200%	1h	0.2466	−0.004%	$2.5M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2465	−0.021%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0353%	1h	0.2463	−0.131%	$6.3M	$12.1M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0359%	1h	0.2464	−0.065%	$504K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0417% / S −0.0202%	1h	0.2463	−0.105%	$96K	—	100x	as long as short