Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h +0.016%

Price spread now: Kraken Futures against Binance−0.038%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)+0.245%+$25 · spread now −0.038%, 7d avg −0.004%

Together, before fees+0.276%+$28 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: Kraken Futures is 0.033% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ADAUSDT	0.2468	0.0100	pay 0.0100% / 8h	4h 15m	$104.5M	$370.2M	75x
Short	Kraken Futures PF_ADAUSD	0.2467	0.0092	get 0.0011% / 1h	15m 01s	$6.3M	$12.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$1.74
Price spread: −0.038% → −0.004%: −$3.31
Slippage, 4 orders: −$20.6
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$45.64
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Kraken Futures: 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 Binance live order book, 14 min ago	2.02 bp	7.0 bp −$7	11.2 bp −$112	29.4 bp −$2,942	90.3 bp −$45.2K
Sell Kraken Futures live order book, 4 min ago	3.05 bp	13.0 bp −$13	16.0 bp −$160	54.3 bp −$5,434	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	0.2465	−0.134%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2467	−0.036%	$154K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2466	−0.062%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.127%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2462	−0.238%	$425K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0092%	1h	0.2467	−0.038%	$6.3M	$12.7M	50x
Lighter ADA	+0.0096%	1h	0.2469	+0.041%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2467	−0.030%	$1.2M	$986K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2467	−0.029%	$160K	$160K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2468	long leg	$104.5M	$370.2M	75x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2466	−0.076%	$71.9M	$108.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2467	−0.036%	$33.0M	$105.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2466	−0.076%	$98.4M	$59.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2467	−0.036%	$61.9M	$60.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2467	−0.031%	$29.8M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2467	−0.036%	$66.4M	$49.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2467	−0.036%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2467	−0.019%	$125K	$442K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2465	−0.114%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2468	+0.010%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2469	+0.040%	$298K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2468	+0.005%	$228K	$746K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2469	+0.033%	$94K	$689K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2467	−0.036%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2469	+0.029%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	+0.084%	$9K	$729K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2467	−0.031%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2469	+0.038%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2469	+0.046%	$48.2M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2467	−0.022%	$537K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2468	+0.023%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0190%	1h	0.2469	+0.037%	$42.9M	$14.7M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2470	+0.070%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2467	−0.036%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2467	−0.056%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0520%	1h	0.2469	+0.037%	$599K	$488K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0595% / S −0.0547%	1h	0.2467	−0.044%	$133K	—	100x	as long as short