Funding you earn now, next payment 22:00 UTC−0.0224%/8h= −24.5% APRnext payment −$0.28 per $10,000 · paid last 24h −0.003%
Price spread now: Coinbase International against Injective−0.567%7-day average +0.323% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.066%−$7 on $10k
+Price spread, last 3 days (all we have)+1.368%+$137 · spread now −0.567%, 7d avg +0.323%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Coinbase International is 0.889% cheaper against Injective than usual: you would sell low and buy high (−$89 if the spread goes back to its 7-day average of +0.323%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.066% in total (about -3.4% 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 | Injective ADA/USDC PERP | 0.2471 | 0.0288 | pay 0.0036% / 1h | 19m 10s | $849 | $202K | 12x |
| Short | Coinbase International ADA-PERP-INTX | 0.2457 | 0.0064 | get 0.0008% / 1h | 19m 10s | $410K | $7.3M | 50x |
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Injective. 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
- −$47.07
- Price spread: −0.567% → +0.323%
- −$88.92
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$146.01
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Coinbase International: live order book, 5 min ago. Net counts fees only.
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 Injective no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 5 min ago | 6.12 bp | 12.1 bp −$12 | 18.5 bp −$185 | doesn't fit | doesn't fit |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 0.2455 | −0.629% | $202K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2458 | −0.526% | $154K | $5.9M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2458 | −0.545% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTXshort | +0.0064% | 1h | 0.2457 | −0.567% | $410K | $7.3M | 50x | |
| Kraken Futures PF_ADAUSD | +0.0095% | 1h | 0.2457 | −0.562% | $6.2M | $11.6M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2459 | −0.486% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2458 | −0.530% | $42.6M | $14.3M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2458 | −0.526% | $1.2M | $920K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2456 | −0.626% | $157K | $146K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2458 | −0.526% | $101.9M | $360.4M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Kraken Futures PF_ADAUSD
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 | 0.2458 | −0.526% | $71.4M | $102.1M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2457 | −0.567% | $31.9M | $105.9M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2457 | −0.567% | $96.8M | $59.0M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2457 | −0.567% | $53.4M | $50.9M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2458 | −0.526% | $30.3M | $18.2M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2457 | −0.567% | $65.8M | $43.2M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2458 | −0.526% | — | $20.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2458 | −0.518% | $101K | $412K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2453 | −0.721% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2456 | −0.620% | $65K | $280K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2455 | −0.661% | $292K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2455 | −0.648% | $55K | $581K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2457 | −0.583% | $96K | $624K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2458 | −0.526% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2458 | −0.506% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2458 | −0.525% | $9K | $759K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2457 | −0.546% | $338 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2459 | −0.498% | $1.3M | $5.2M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2458 | −0.526% | $47.9M | $5.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2456 | −0.621% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2457 | −0.566% | $554K | $1.8M | 50x | as long as short |
| Phoenix ADA | +0.0131% | 1h | 0.2453 | −0.724% | $4K | $74K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2454 | −0.688% | $4.4M | $5.4M | 75x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0279% | 1h | 0.2459 | −0.494% | $480K | $351K | 50x | as long as short |
| Reya ADARUSDPERP | +0.0285% | 1h | 0.2457 | −0.583% | $1K | — | 15x | as long as short |
| Injective ADA/USDC PERPlong | +0.0288% | 1h | 0.2471 | long leg | $849 | $202K | 12x | |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0566% / S −0.0313% | 1h | 0.2458 | −0.522% | $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
Deribit ADA_USDC-PERPETUAL
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]