Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h 0.000%

Price spread now: Deribit against edgeX−0.226%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 3 days (all we have)+0.526%+$53 · spread now −0.226%, 7d avg +0.050%

Together, before fees+0.441%+ Points / potential airdropedgeX: Active · farm board+$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.276% cheaper against edgeX than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of +0.050%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ADAUSDC	0.2452	0.0100	pay 0.0050% / 4h	3h 54m	$65K	$281K	20x
Short	Deribit ADA_USDC-PERPETUAL	0.2446	0.0036	get 0.0005% / 1h	54m 44s	$491K	$429K	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 −0.226%Rate

Funding earned: −$13.44
Price spread: −0.226% → +0.050%: −$27.55
Slippage, 4 orders: −$22.14
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$79.14
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from edgeX: live order book, 18 min ago; Deribit: live order book, 19 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, 18 min ago	6.14 bp	10.7 bp −$11	28.7 bp −$287	doesn't fit	doesn't fit
Sell Deribit live order book, 19 min ago	2.46 bp	6.6 bp −$7	12.9 bp −$129	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	0.2450	−0.090%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2447	−0.193%	$194K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2446	−0.251%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.786%	$849	$202K	12x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0036%	1h	0.2446	−0.226%	$491K	$429K	50x
Gate ADA_USDT	+0.0038%	8h	0.2450	−0.071%	$97.8M	$57.9M	75x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2453	+0.051%	$407K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0048%	1h	0.2446	−0.219%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2451	−0.022%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	−0.071%	$42.5M	$14.3M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ADAUSDT	+0.0100%	8h	0.2449	−0.123%	$1.2M	$934K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	−0.074%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2450	−0.069%	$101.4M	$366.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2449	−0.112%	$71.4M	$104.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	−0.071%	$32.3M	$107.2M	50x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2450	−0.071%	$52.6M	$50.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	−0.136%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2451	−0.030%	$65.9M	$43.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2450	−0.071%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2447	−0.185%	$108K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	+0.099%	$4.2M	$967K	—	as long as short
edgeX ADAUSDClong	+0.0100%	4h	0.2452	long leg	$65K	$281K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.005%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2452	+0.011%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2446	−0.230%	$94K	$642K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2446	−0.234%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2446	−0.229%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	−0.153%	$9K	$769K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2446	−0.230%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	−0.238%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2447	−0.193%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2451	−0.022%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2451	−0.049%	$553K	$1.8M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2453	+0.039%	$4K	$84K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2446	−0.234%	$4.3M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2446	−0.252%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0393%	1h	0.2445	−0.273%	$141K	—	100x	as long as short