Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.004%

Price spread now: KuCoin against Coinbase International−0.086%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

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

costs, in and out, $10k−$460.463% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.086%, 7d avg +0.030%

Together, before fees+0.194%+$19 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 KuCoin is 0.116% cheaper against Coinbase International than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.030%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.078%, 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	0.2442	0.0144	pay 0.0018% / 1h	35m 43s	$368K	$8.4M	50x
Short	KuCoin ADAUSDTM	0.2440	0.0100	get 0.0100% / 8h	35m 43s	$29.4M	$16.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$9.24
Price spread: −0.086% → +0.030%: −$11.58
Slippage, 4 orders: −$24.29
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$67.11
Costs to cover: 0.463%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; KuCoin: live order book, 3 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, 3 min ago	6.13 bp	12.7 bp −$13	19.0 bp −$190	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	2.04 bp	11.6 bp −$12	18.9 bp −$189	57.9 bp −$5,792	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	0.2440	−0.094%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2440	−0.068%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.188%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2442	+0.016%	$2.4M	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2441	−0.041%	$6K	$5K	20x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2443	+0.053%	$42.9M	$18.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2441	−0.044%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2441	−0.049%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2441	−0.048%	$103.0M	$408.0M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2439	−0.123%	$72.3M	$126.2M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2440	−0.082%	$32.4M	$118.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2441	−0.041%	$99.7M	$65.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2439	−0.123%	$51.6M	$65.6M	300x	as long as short
KuCoin ADAUSDTMshort	+0.0100%	8h	0.2440	−0.086%	$29.4M	$16.0M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2440	−0.082%	$66.3M	$54.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2441	−0.041%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2441	−0.037%	$139K	$486K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2439	−0.122%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2448	+0.231%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2446	+0.146%	$286K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.614%	$78K	$894K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2440	−0.086%	$119K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2441	−0.040%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2442	−0.005%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2440	−0.061%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2441	−0.052%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2440	−0.082%	$47.2M	$7.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2441	−0.049%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2440	−0.089%	$514K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0105%	8h	0.2443	+0.041%	$202K	$7.6M	3.2x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0144%	1h	0.2442	long leg	$368K	$8.4M	50x
BloFin ADA-USDT	+0.0220%	8h	0.2440	−0.082%	$4.4M	$5.8M	75x	as long as short
Phoenix ADA	+0.0228%	1h	0.2459	+0.684%	$4K	$112K	10x	as long as short
Reya ADARUSDPERP	+0.0273%	1h	0.2440	−0.085%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0281%	1h	0.2441	−0.060%	$6.3M	$14.0M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0529%	1h	0.2442	+0.008%	$622K	$614K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0601% / S −0.0679%	1h	0.2440	−0.064%	$155K	—	100x	as long as short