Funding you earn now, next payment 06:00 UTC+0.0306%/8h= +33.5% APRpaid last 24h +0.081%
Price spread now: Deribit against Binance−0.115%55s7-day average +0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$23as 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−$320.315% of the position
Funding, last 7 days+0.086%+$9 on $10k
+Price spread, last 4 days (all we have)+0.214%+$21 · spread now −0.115%, 7d avg +0.014%
=Funding pays, the price is against you. Deribit is 0.129% cheaper against Binance than usual: you would sell low and buy high (spread −0.115% now, against its 7-day average of +0.014%). If the spread goes back, that is −$13 on $10k: about 34 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.086% in total) that is about 10 days. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.086% in total (about 4.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ADAUSDT | 0.2445 | 0.0100 | pay 0.0100% / 8h | 2h 35m | $103.2M | $396.5M | 75x |
| Short | Deribit ADA_USDC-PERPETUAL | 0.2442 | 0.0406 | get 0.0051% / 1h | 35m 32s | $600K | $550K | 50x |
Binance ADAUSDT
Deribit ADA_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $64.26
- Price spread: −0.115% → +0.014%
- −$12.85
- Slippage, 4 orders
- −$14.53
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $19.88
- Costs to cover
- 0.315%
- Break-even
- 4.8 days
Slippage from Binance: live order book, 8 min ago; Deribit: live order book, 13 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, 8 min ago | 2.03 bp | 7.0 bp −$7 | 12.1 bp −$121 | 30.3 bp −$3,031 | 91.6 bp −$45.8K |
| Sell Deribit live order book, 13 min ago | 4.85 bp | 8.6 bp −$9 | 14.1 bp −$141 | 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 | −0.018% | $201K | $2K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2442 | −0.123% | $157K | $7.0M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2444 | −0.023% | $84K | — | 150x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0020% | 1h | 0.2441 | −0.152% | $6.2M | $13.3M | 50x | as long as short |
| Phoenix ADA | +0.0032% | 1h | 0.2444 | −0.037% | $4K | $105K | 10x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +1.063% | $849 | $202K | 12x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2447 | +0.090% | $2.4M | $989K | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2445 | +0.016% | $42.2M | $17.1M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2444 | −0.032% | $1.2M | $1.1M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2446 | +0.037% | $157K | $170K | 10x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Kraken Futures PF_ADAUSD
Phoenix ADA
Injective ADA/USDC PERP
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADAShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ADAUSDTlong | +0.0100% | 8h | 0.2445 | long leg | $103.2M | $396.5M | 75x | |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2444 | −0.041% | $71.3M | $119.4M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2446 | +0.041% | $32.7M | $112.8M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2444 | −0.041% | $98.8M | $63.3M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2445 | 0.000% | $58.0M | $63.3M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2445 | −0.004% | $29.3M | $15.4M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2445 | 0.000% | $66.4M | $52.2M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2444 | −0.041% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2443 | −0.082% | $115K | $469K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2440 | −0.200% | $4.2M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2443 | −0.093% | $65K | $286K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2442 | −0.131% | $291K | $4.0M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2442 | −0.123% | $198K | $780K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2445 | −0.020% | $113K | $790K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2441 | −0.164% | $6K | $6K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2441 | −0.156% | $40K | $2K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2445 | 0.000% | $8K | $751K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2441 | −0.160% | $336 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2442 | −0.112% | $1.3M | $6.7M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2442 | −0.123% | $47.6M | $7.0M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0101% | 8h | 0.2446 | +0.040% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2444 | −0.026% | $531K | $1.8M | 50x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0104% | 1h | 0.2442 | −0.123% | $380K | $8.2M | 50x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2446 | +0.041% | $4.5M | $5.8M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0276% | 1h | 0.2445 | +0.001% | $1K | — | 15x | as long as short |
| Deribit ADA_USDC-PERPETUALshort | +0.0406% | 1h | 0.2442 | −0.115% | $600K | $550K | 50x | |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0620% / S −0.0585% | 1h | 0.2444 | −0.053% | $138K | — | 100x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Coinbase International ADA-PERP-INTX
BloFin ADA-USDT
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]