Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0162%/8h= +17.7% APRpaid last 24h +0.010%

Price spread now: Kraken Futures against BingX−0.036%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

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

costs, in and out, $10k−$390.389% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 3 days (all we have)+0.162%+$16 · spread now −0.036%, 7d avg +0.009%

Together, before fees+0.134%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.044% cheaper against BingX than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of +0.009%). If the spread goes back, that is −$4 on $10k: about 22 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ADA-USDT	0.2454	0.0100	pay 0.0100% / 8h	5h 55m	—	$20.3M	—
Short	Kraken Futures PF_ADAUSD	0.2453	0.0262	get 0.0033% / 1h	55m 01s	$6.2M	$12.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now −0.036%Rate

Funding earned: $33.96
Price spread: −0.036% → +0.009%: −$4.43
Slippage, 4 orders: −$18.91
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$9.38
Costs to cover: 0.389%
Break-even: 8.9 days

Slippage from BingX: live order book, 13 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 BingX live order book, 13 min ago	2.04 bp	7.0 bp −$7	7.0 bp −$70	15.3 bp −$1,525	28.6 bp −$14.3K
Sell Kraken Futures live order book, 4 min ago	2.65 bp	13.5 bp −$14	18.6 bp −$186	47.3 bp −$4,726	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	0.2455	+0.021%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2452	−0.073%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.693%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2468	+0.570%	$412K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2457	+0.123%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	−0.012%	$1.2M	$983K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.057%	$158K	$158K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	+0.075%	$103.1M	$366.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2455	+0.041%	$72.4M	$107.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2456	+0.081%	$32.6M	$105.5M	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	0.2453	−0.041%	$97.9M	$58.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2455	+0.041%	$64.3M	$53.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	−0.012%	$29.8M	$17.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	+0.041%	$65.7M	$47.3M	75x	as long as short
BingX ADA-USDTlong	+0.0100%	8h	0.2454	long leg	—	$20.3M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	+0.033%	$126K	$414K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2467	+0.534%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	−0.148%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2450	−0.163%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2450	−0.163%	$56K	$590K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2454	+0.008%	$94K	$672K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2452	−0.081%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	−0.044%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2453	−0.043%	$9K	$745K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2453	−0.029%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	0.000%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	0.000%	$47.7M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2452	−0.084%	$534K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0105%	8h	0.2455	+0.041%	$126K	$6.2M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2455	+0.054%	$21K	$250	20x	as long as short
Lighter ADA	+0.0112%	1h	0.2456	+0.086%	$2.4M	$1.0M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0117%	1h	0.2453	−0.045%	$501K	$471K	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2454	+0.016%	$4K	$90K	10x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0262%	1h	0.2453	−0.036%	$6.2M	$12.2M	50x
Reya ADARUSDPERP	+0.0280%	1h	0.2452	−0.081%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2452	−0.084%	$95K	—	100x	as long as short