Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.081%

Price spread now: Deribit against edgeX−1.097%75s7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.386% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+1.397%+$140 · spread now −1.097%, 7d avg +0.039%

Together, before fees+1.395%+ Points / potential airdropedgeX: Active · farm board+$139 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 1.136% cheaper against edgeX than usual: you would sell low and buy high (spread −1.097% now, against its 7-day average of +0.039%). If the spread goes back, that is −$114 on $10k: about 59 days of funding at the current rate (+$2 a day). The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ADAUSDC	0.2445	0.0100	pay 0.0050% / 4h	2h 31m	$65K	$286K	20x
Short	Deribit ADA_USDC-PERPETUAL	0.2418	0.0164	get 0.0021% / 1h	31m 40s	$596K	$552K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against edgeX. 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 edgeXbpFee DeribitbpOrdersPrice spread, now −1.097%Rate

Funding earned: $13.44
Price spread: −1.097% → +0.039%: −$113.61
Slippage, 4 orders: −$22.62
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$138.79
Costs to cover: 0.386%
Break-even: 79.3 days

Slippage from edgeX: live order book, 16 min ago; Deribit: live order book, 17 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 edgeX live order book, 16 min ago	6.07 bp	10.6 bp −$11	27.2 bp −$272	doesn't fit	doesn't fit
Sell Deribit live order book, 17 min ago	4.85 bp	8.6 bp −$9	14.1 bp −$141	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-USD	0.0000%	1h	0.2420	−1.031%	$199K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2421	−0.974%	$181K	$7.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2424	−0.836%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2416	−1.176%	$6.2M	$13.5M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2444	−0.029%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.071%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2421	−0.974%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2419	−1.048%	$41.7M	$17.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2420	−0.997%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2420	−1.004%	$155K	$170K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2421	−0.992%	$102.2M	$402.9M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2420	−1.015%	$71.2M	$121.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2421	−0.974%	$32.0M	$113.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2420	−1.015%	$98.0M	$63.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2420	−1.015%	$53.6M	$64.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2419	−1.048%	$28.9M	$15.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2420	−1.015%	$65.9M	$52.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2421	−0.974%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2420	−1.003%	$112K	$468K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2440	−0.192%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDClong	+0.0100%	4h	0.2445	long leg	$65K	$286K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2442	−0.123%	$291K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2445	+0.007%	$198K	$780K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2425	−0.802%	$126K	$874K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2420	−1.015%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2420	−1.000%	$39K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2418	−1.098%	$8K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2417	−1.117%	$333	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2420	−1.012%	$1.3M	$6.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2419	−1.056%	$47.1M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2421	−0.984%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2421	−0.980%	$526K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2417	−1.138%	$383K	$8.2M	50x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0164%	1h	0.2418	−1.097%	$596K	$552K	50x
BloFin ADA-USDT	+0.0220%	8h	0.2423	−0.892%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2424	−0.870%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0642% / S −0.0618%	1h	0.2424	−0.859%	$143K	—	100x	as long as short