Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.009%

Price spread now: Orderly against Coinbase International−0.122%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.122% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.122% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 7.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2456	0.0048	pay 0.0006% / 1h	48m 30s	$410K	$7.4M	50x
Short	Orderly PERP_ADA_USDC	0.2453	0.0100	get 0.0100% / 8h	6h 48m	$6K	$28K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.122%Rate

Funding earned: $10.92
Price spread: −0.122% → 0.000%: −$12.21
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$17.29
Costs to cover: 0.160%
Break-even: 18.1 days

Slippage unknown: Coinbase International: live order book, 6 min ago; Orderly: no order-book sample. Net counts fees only.

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, 6 min ago	6.15 bp	11.1 bp −$11	19.6 bp −$196	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2457	+0.053%	$202K	$4K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.063%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.611%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0048%	1h	0.2456	long leg	$410K	$7.4M	50x
Lighter ADA	+0.0096%	1h	0.2458	+0.086%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2455	−0.049%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2457	+0.054%	$1.2M	$968K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2457	+0.049%	$159K	$158K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	−0.027%	$102.3M	$375.0M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	−0.081%	$72.3M	$108.1M	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	0.2455	−0.041%	$32.5M	$108.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2457	+0.041%	$98.4M	$58.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	0.000%	$50.2M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	+0.094%	$30.1M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2453	−0.122%	$65.5M	$46.5M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2456	0.000%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2456	+0.012%	$126K	$424K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.239%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2444	−0.506%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.489%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2451	−0.204%	$56K	$587K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	−0.037%	$93K	$656K	10x	as long as short
Orderly PERP_ADA_USDCshort	+0.0100%	8h	0.2453	−0.122%	$6K	$28K	20x
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.050%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2460	+0.164%	$9K	$773K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2454	−0.065%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2459	+0.103%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.081%	$47.8M	$6.4M	50x	as long as short
Kalshi KXADAPERP	+0.0104%	8h	0.2461	+0.204%	$200K	$6.2M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	−0.065%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2456	+0.017%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	+0.061%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2459	+0.122%	$4.4M	$5.6M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0280%	1h	0.2454	−0.065%	$499K	$470K	50x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2453	−0.141%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2454	−0.096%	$6.2M	$12.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0622% / S −0.0389%	1h	0.2453	−0.110%	$140K	—	100x	as long as short