Funding you earn now, next payment 23:00 UTC−0.0225%/8h= −24.7% APRnext payment −$0.28 per $10,000 · paid last 24h +0.012%
Price spread now: Kraken Futures against Deribit+0.007%7-day average −0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$380.376% of the position
Funding, last 7 days+0.008%+$1 on $10k
+Price spread, last 3 days (all we have)+0.055%+$5 · spread now +0.007%, 7d avg −0.025%
=The price spread pays, funding is against you. Kraken Futures is 0.032% dearer against Deribit than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.025%): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 11 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.008% in total (about 0.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ADA_USDC-PERPETUAL | 0.2458 | 0.0320 | pay 0.0040% / 1h | 48m 44s | $477K | $350K | 50x |
| Short | Kraken Futures PF_ADAUSD | 0.2458 | 0.0095 | get 0.0012% / 1h | 48m 44s | $6.2M | $11.4M | 50x |
Deribit ADA_USDC-PERPETUAL
Kraken Futures PF_ADAUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$47.31
- Price spread: +0.007% → −0.025%
- $3.22
- Slippage, 4 orders
- −$20.59
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$81.69
- Costs to cover
- 0.376%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 35 min ago; Kraken Futures: 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 Deribit live order book, 35 min ago | 3.05 bp | 6.6 bp −$7 | 13.0 bp −$130 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 1.83 bp | 11.1 bp −$11 | 13.9 bp −$139 | 52.0 bp −$5,199 | 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 | 0.2457 | −0.047% | $202K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2455 | −0.118% | $165K | $5.9M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2455 | −0.130% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0064% | 1h | 0.2455 | −0.118% | $411K | $7.2M | 50x | as long as short |
| Kraken Futures PF_ADAUSDshort | +0.0095% | 1h | 0.2458 | +0.007% | $6.2M | $11.4M | 50x | |
| Lighter ADA | +0.0096% | 1h | 0.2459 | +0.037% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2458 | −0.008% | $42.6M | $14.5M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2457 | −0.019% | $1.2M | $999K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2457 | −0.030% | $157K | $147K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2458 | −0.005% | $101.7M | $355.5M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2457 | −0.037% | $71.0M | $99.5M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2457 | −0.037% | $31.8M | $105.1M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2456 | −0.077% | $96.7M | $57.5M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2457 | −0.037% | $52.9M | $50.1M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2457 | −0.024% | $30.3M | $18.2M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2457 | −0.037% | $65.8M | $42.9M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2457 | −0.037% | — | $20.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2459 | +0.041% | $101K | $413K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2451 | −0.269% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2453 | −0.206% | $65K | $280K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2451 | −0.281% | $296K | $3.9M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2456 | −0.077% | $55K | $579K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2454 | −0.155% | $96K | $625K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2456 | −0.077% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2456 | −0.067% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2454 | −0.160% | $9K | $755K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2457 | −0.016% | $338 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2456 | −0.088% | $1.3M | $5.1M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2456 | −0.077% | $47.9M | $5.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2454 | −0.173% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2457 | −0.031% | $559K | $1.8M | 50x | as long as short |
| Phoenix ADA | +0.0131% | 1h | 0.2455 | −0.130% | $4K | $74K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2456 | −0.077% | $4.4M | $5.4M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0286% | 1h | 0.2455 | −0.108% | $1K | — | 15x | as long as short |
| Injective ADA/USDC PERP | +0.0288% | 1h | 0.2445 | −0.525% | $840 | $168K | 12x | as long as short |
| Deribit ADA_USDC-PERPETUALlong | +0.0320% | 1h | 0.2458 | long leg | $477K | $350K | 50x | |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0565% / S −0.0313% | 1h | 0.2454 | −0.139% | $122K | — | 100x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Phoenix ADA
BloFin ADA-USDT
Reya ADARUSDPERP
Injective ADA/USDC PERP
GMX ADA/USD [WBTC.b-USDC]