Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h +0.017%

Price spread now: Kraken Futures against Bitget−0.162%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$500.500% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.342%+$34 · spread now −0.162%, 7d avg +0.014%

Together, before fees+0.347%+$35 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 Kraken Futures is 0.177% cheaper against Bitget than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.014%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ADAUSDT	0.2420	0.0100	pay 0.0100% / 8h	2h 31m	$65.9M	$52.8M	75x
Short	Kraken Futures PF_ADAUSD	0.2416	0.0020	get 0.0002% / 1h	31m 37s	$6.2M	$13.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now −0.162%Rate

Funding earned: −$16.83
Price spread: −0.162% → +0.014%: −$17.67
Slippage, 4 orders: −$28
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$84.5
Costs to cover: 0.500%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Kraken Futures: live order book, 2 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 Bitget live order book, 2 min ago	2.07 bp	12.1 bp −$12	15.1 bp −$151	49.8 bp −$4,979	142.9 bp −$71.4K
Sell Kraken Futures live order book, 2 min ago	1.45 bp	17.3 bp −$17	26.2 bp −$262	62.1 bp −$6,208	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	0.2420	−0.016%	$199K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2421	+0.041%	$181K	$7.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2424	+0.181%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0020%	1h	0.2416	−0.162%	$6.2M	$13.5M	50x
Phoenix ADA	+0.0032%	1h	0.2444	+0.996%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+2.107%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2421	+0.041%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2419	−0.033%	$41.7M	$17.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2420	+0.018%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2420	+0.012%	$155K	$170K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2421	+0.023%	$102.2M	$402.9M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2420	0.000%	$71.2M	$121.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2421	+0.041%	$32.0M	$113.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2420	0.000%	$98.0M	$63.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2420	0.000%	$53.6M	$64.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2419	−0.033%	$28.9M	$15.6M	75x	as long as short
Bitget ADAUSDTlong	+0.0100%	8h	0.2420	long leg	$65.9M	$52.8M	75x
BingX ADA-USDT	+0.0100%	8h	0.2421	+0.041%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2420	+0.012%	$112K	$468K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2440	+0.831%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2445	+1.026%	$65K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2442	+0.901%	$291K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2445	+1.033%	$198K	$780K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2425	+0.215%	$126K	$874K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2420	0.000%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2420	+0.015%	$39K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2418	−0.083%	$8K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2417	−0.103%	$333	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2420	+0.003%	$1.3M	$6.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2419	−0.041%	$47.1M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2421	+0.031%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2421	+0.035%	$526K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2417	−0.124%	$383K	$8.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0164%	1h	0.2418	−0.083%	$596K	$552K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2423	+0.124%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2424	+0.146%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0642% / S −0.0618%	1h	0.2424	+0.157%	$143K	—	100x	as long as short