Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.010%

Price spread now: Aster against Coinbase International+0.118%54s7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as 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−$490.492% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 3 days (all we have)−0.161%−$16 · spread now +0.118%, 7d avg +0.038%

Together, before fees−0.013%+ Points / potential airdropAster: Stage 5 · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aster is 0.080% dearer against Coinbase International than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.038%. The two prices were read 54 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	Coinbase International ADA-PERP-INTX	0.2447	0.0040	pay 0.0005% / 1h	58m 31s	$406K	$7.3M	50x
Short	Aster ADAUSDT	0.2450	0.0100	get 0.0100% / 8h	7h 58m	$1.2M	$934K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now +0.118%Rate

Funding earned: $12.6
Price spread: +0.118% → +0.038%: $7.96
Slippage, 4 orders: −$31.16
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$28.6
Costs to cover: 0.492%
Break-even: 22.9 days

Slippage from Coinbase International: live order book, 5 min ago; Aster: live order book, 5 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 Coinbase International live order book, 5 min ago	4.08 bp	11.7 bp −$12	17.3 bp −$173	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	4.08 bp	11.9 bp −$12	25.3 bp −$253	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	0.2448	+0.038%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2452	+0.204%	$205K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2451	+0.146%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.981%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0040%	1h	0.2447	long leg	$406K	$7.3M	50x
Kraken Futures PF_ADAUSD	+0.0048%	1h	0.2451	+0.158%	$6.2M	$11.7M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2450	+0.110%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2451	+0.168%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDTshort	+0.0100%	8h	0.2450	+0.118%	$1.2M	$934K	75x
Pacifica ADA	+0.0100%	1h	0.2449	+0.091%	$157K	$145K	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	0.2450	+0.136%	$101.4M	$366.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2449	+0.082%	$71.3M	$104.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	+0.123%	$32.4M	$107.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2449	+0.082%	$97.7M	$57.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	+0.082%	$53.4M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	+0.102%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2450	+0.123%	$65.9M	$43.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2451	+0.163%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	+0.110%	$108K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	+0.130%	$4.2M	$972K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	+0.201%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.205%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.245%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	+0.074%	$94K	$642K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2450	+0.123%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2451	+0.160%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	+0.204%	$9K	$768K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.143%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	+0.172%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2450	+0.123%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2450	+0.137%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2450	+0.124%	$553K	$1.8M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2450	+0.135%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2452	+0.204%	$4.4M	$5.5M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0240%	1h	0.2451	+0.176%	$492K	$430K	50x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2449	+0.084%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0564% / S −0.0313%	1h	0.2451	+0.154%	$122K	—	100x	as long as short