Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Phemex against Gate+0.082%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$470.467% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 3 days (all we have)+0.053%+$5 · spread now +0.082%, 7d avg +0.046%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.036% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ADA_USDT	0.2439	0.0100	pay 0.0100% / 8h	26m 49s	$96.8M	$59.9M	75x
Short	Phemex ADAUSDT	0.2441	0.0100	get 0.0100% / 8h	26m 49s	$47.7M	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now +0.082%Rate

Funding earned: $0
Price spread: +0.082% → +0.046%: $3.55
Slippage, 4 orders: −$19.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$43.16
Costs to cover: 0.467%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Phemex: live order book, 2 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 Gate live order book, 2 min ago	2.05 bp	13.3 bp −$13	17.2 bp −$172	98.1 bp −$9,811	doesn't fit
Sell Phemex live order book, 2 min ago	2.05 bp	8.0 bp −$8	15.9 bp −$159	42.2 bp −$4,220	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	0.2438	−0.042%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2440	+0.041%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2440	+0.023%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2438	−0.041%	$402K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2442	+0.131%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2440	+0.062%	$42.2M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2441	+0.071%	$1.2M	$928K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2439	−0.007%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2440	+0.049%	$101.3M	$363.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2439	0.000%	$70.9M	$103.3M	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	0.2441	+0.082%	$32.2M	$106.6M	50x	as long as short
Gate ADA_USDTlong	+0.0100%	8h	0.2439	long leg	$96.8M	$59.9M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2440	+0.041%	$52.3M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2441	+0.078%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2440	+0.041%	$65.5M	$43.5M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2440	+0.041%	—	$18.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2442	+0.119%	$108K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	+0.419%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2442	+0.124%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	+0.411%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2442	+0.123%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2439	−0.004%	$92K	$634K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2440	+0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2441	+0.069%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2440	+0.039%	$9K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2440	+0.053%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2441	+0.070%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2441	+0.082%	$47.7M	$5.9M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2439	+0.004%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2440	+0.043%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2440	+0.058%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2442	+0.144%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2442	+0.123%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.312%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2439	+0.006%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2440	+0.041%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4746%	1h	0.2501	+2.558%	$503K	$430K	50x	as long as short