Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.005%

Price spread now: Bitget against Coinbase International−0.123%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$440.437% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.123%, 7d avg +0.018%

Together, before fees+0.229%+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.141% cheaper against Coinbase International than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.018%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.116%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2439	0.0120	pay 0.0015% / 1h	34m 42s	$381K	$8.6M	50x
Short	Bitget ADAUSDT	0.2436	0.0100	get 0.0100% / 8h	1h 34m	$66.2M	$53.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$4.2
Price spread: −0.123% → +0.018%: −$14.09
Slippage, 4 orders: −$21.68
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$61.97
Costs to cover: 0.437%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Bitget: 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 Coinbase International live order book, 4 min ago	4.10 bp	12.4 bp −$12	20.4 bp −$204	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.05 bp	8.1 bp −$8	14.1 bp −$141	37.8 bp −$3,779	101.5 bp −$50.7K

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
Kalshi KXADAPERP	0.0000%	8h	0.2436	−0.123%	$200K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2434	−0.188%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.312%	$849	$202K	12x	as long as short
dYdX ADA-USD	+0.0069%	1h	0.2435	−0.145%	$200K	$2K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2435	−0.164%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2436	−0.124%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2437	−0.100%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2436	−0.123%	$102.5M	$409.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2434	−0.205%	$72.1M	$124.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2434	−0.205%	$32.4M	$117.6M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2434	−0.205%	$99.6M	$64.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2436	−0.123%	$51.8M	$64.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2436	−0.139%	$29.4M	$15.9M	75x	as long as short
Bitget ADAUSDTshort	+0.0100%	8h	0.2436	−0.123%	$66.2M	$53.3M	75x
BingX ADA-USDC	+0.0100%	8h	0.2436	−0.123%	—	$6.6M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2435	−0.161%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2440	+0.023%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	+0.003%	$291K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2441	+0.082%	$81K	$891K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2435	−0.164%	$128K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2436	−0.111%	$39K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2437	−0.082%	$8K	$762K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2436	−0.119%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2436	−0.132%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2436	−0.123%	$47.3M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2435	−0.146%	$512K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2436	−0.137%	$20K	$250	20x	as long as short
Lighter ADA	+0.0112%	1h	0.2437	−0.074%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0120%	1h	0.2439	long leg	$381K	$8.6M	50x
Backpack ADA_USDC_PERP	+0.0140%	1h	0.2437	−0.094%	$138K	$483K	15x	as long as short
Phoenix ADA	+0.0163%	1h	0.2440	+0.062%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2436	−0.125%	$6.3M	$13.9M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2438	−0.041%	$4.4M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0263%	1h	0.2438	−0.053%	$42.8M	$18.1M	10x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2436	−0.143%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0530%	1h	0.2437	−0.086%	$623K	$617K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2435	−0.166%	$163K	—	100x	as long as short