Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.036%

Price spread now: ApeX Omni against BloFin−0.161%103s7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as 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−$530.530% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 4 days (all we have)−0.123%−$12 · spread now −0.161%, 7d avg −0.034%

Together, before fees−0.306%−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and ApeX Omni is 0.127% cheaper against BloFin than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.034%). Swap the legs. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ADA-USDT	0.2478	0.0220	pay 0.0220% / 8h	2h 49m	$4.5M	$5.9M	75x
Short	ApeX Omni ADAUSDT	0.2474	0.0100	get 0.0013% / 1h	49m 31s	$230K	$760K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.161%Rate

Funding earned: −$25.2
Price spread: −0.161% → −0.034%: −$12.73
Slippage, 4 orders: −$31
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$90.93
Costs to cover: 0.530%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; ApeX Omni: live order book, 64 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 BloFin live order book, 4 min ago	6.08 bp	12.1 bp −$12	12.1 bp −$121	20.6 bp −$2,056	41.2 bp −$20.6K
Sell ApeX Omni live order book, 64 min ago	7.98 bp	13.9 bp −$14	41.7 bp −$417	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	0.2472	−0.228%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2475	−0.121%	$152K	$7.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2473	−0.186%	$85K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0019%	1h	0.2471	−0.278%	$6.3M	$13.3M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2478	−0.004%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.282%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2475	−0.141%	$2.5M	$987K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2474	−0.145%	$44.0M	$16.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2472	−0.228%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2473	−0.190%	$158K	$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	0.2472	−0.242%	$104.2M	$392.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2471	−0.282%	$73.4M	$117.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2471	−0.282%	$33.0M	$112.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2471	−0.282%	$100.0M	$62.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2473	−0.202%	$59.4M	$62.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2472	−0.246%	$29.7M	$15.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2472	−0.242%	$67.3M	$51.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2472	−0.242%	—	$19.9M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2474	−0.159%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2468	−0.411%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2475	−0.135%	$290K	$4.0M	10x	as long as short
ApeX Omni ADAUSDTshort	+0.0100%	1h	0.2474	−0.161%	$230K	$760K	50x
Polymarket Perps ADA-USD	+0.0100%	1h	0.2471	−0.278%	$94K	$635K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2473	−0.202%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2473	−0.202%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2476	−0.080%	$8K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2472	−0.262%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2471	−0.287%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2471	−0.282%	$48.2M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2473	−0.202%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2471	−0.290%	$537K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2475	−0.121%	$410K	$8.3M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0199%	1h	0.2472	−0.258%	$124K	$457K	15x	as long as short
BloFin ADA-USDTlong	+0.0220%	8h	0.2478	long leg	$4.5M	$5.9M	75x
Reya ADARUSDPERP	+0.0276%	1h	0.2471	−0.282%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0316%	1h	0.2474	−0.174%	$608K	$542K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0625% / S −0.0585%	1h	0.2473	−0.199%	$140K	—	100x	as long as short