ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0142%/8h= +15.6% APRnext payment +$0.18 per $10,000 · paid last 24h +0.023%

Price spread now: Backpack against dYdX+0.116%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$263as in the Funding arb table

Net, price: spread back to 7d avg − costs−$251as in the Price arb table

costs, in and out, $10k−$2612.612% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.116%, 7d avg +0.009%

Together, before fees−0.182%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.107% dearer against dYdX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2469	0	get 0.0000% / 1h	49m 42s	$203K	$4K	10x
Short	Backpack ADA_USDC_PERP	0.2471	0.0142	get 0.0018% / 1h	49m 42s	$109K	$415K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now +0.116%Rate

Funding earned: $29.9
Price spread: +0.116% → +0.009%: $10.66
Slippage, 4 orders: −$241.23
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$220.67
Costs to cover: 2.612%
Break-even: 58.7 days

Slippage from dYdX: live order book, 29 min ago; Backpack: live order book, 29 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 dYdX live order book, 29 min ago	83.35 bp	116.6 bp −$117	142.4 bp −$1,424	145.0 bp −$14.5K	160.1 bp −$80.0K
Sell Backpack live order book, 29 min ago	0.20 bp	5.6 bp −$6	6.8 bp −$68	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-USDlong	0.0000%	1h	0.2469	long leg	$203K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2473	+0.181%	$161K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2472	+0.122%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2473	+0.181%	$413K	$7.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2470	+0.075%	$2.5M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2472	+0.148%	$42.8M	$14.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2471	+0.100%	$1.2M	$925K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2470	+0.054%	$159K	$144K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2469	+0.008%	$102.8M	$360.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2469	+0.019%	$71.9M	$102.3M	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	0.2470	+0.059%	$32.6M	$107.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2467	−0.062%	$97.7M	$59.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2469	+0.019%	$53.2M	$50.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2471	+0.096%	$30.3M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2468	−0.022%	$66.1M	$43.1M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2469	+0.019%	—	$18.0M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2474	+0.229%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2475	+0.260%	$66K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2475	+0.268%	$299K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2472	+0.140%	$56K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2473	+0.181%	$97K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2471	+0.100%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2471	+0.100%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2474	+0.220%	$9K	$761K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2470	+0.067%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2474	+0.207%	$1.3M	$5.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2469	+0.019%	$48.2M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2469	+0.019%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2468	−0.020%	$561K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2470	+0.067%	$6.2M	$11.5M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2468	−0.018%	$4K	$78K	10x	as long as short
Backpack ADA_USDC_PERPshort	+0.0142%	1h	0.2471	+0.116%	$109K	$415K	15x
BloFin ADA-USDT	+0.0220%	8h	0.2476	+0.302%	$4.4M	$5.5M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0236%	1h	0.2472	+0.132%	$490K	$410K	50x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.100%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2473	+0.184%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0568% / S −0.0313%	1h	0.2471	+0.098%	$123K	—	100x	as long as short