Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0246%/8h= +26.9% APRpaid last 24h +0.040%

Price spread now: Kraken Futures against Kalshi+0.073%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$470.474% of the position

Long on Kalshi Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.245%+$24 on $10k

Price spread, last 3 days (all we have)+0.059%+$6 · spread now +0.073%, 7d avg +0.092%

Together, before fees+0.304%+$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.092%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXADAPERP	0.2452	0.0108	pay 0.0108% / 8h	2h 14m	$163K	$6.3M	3.2x
Short	Kraken Futures PF_ADAUSD	0.2454	0.0354	get 0.0044% / 1h	14m 53s	$6.2M	$12.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Kalshi. 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 KalshibpFee Kraken FuturesbpOrdersPrice spread, now +0.073%Rate

Funding earned: $51.59
Price spread: +0.073% → +0.092%: −$1.98
Slippage, 4 orders: −$27.41
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $2.21
Costs to cover: 0.474%
Break-even: 6.7 days

Slippage from Kalshi: live order book, 4 min ago; Kraken Futures: live order book, 4 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 Kalshi live order book, 4 min ago	6.11 bp	11.1 bp −$11	16.8 bp −$168	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	2.85 bp	12.6 bp −$13	16.5 bp −$165	53.2 bp −$5,316	doesn't fit

ADA on 36 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	0.2451	−0.061%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2452	+0.018%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.775%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2451	−0.041%	$404K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2457	+0.204%	$42.8M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	+0.082%	$1.2M	$971K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2452	−0.004%	$157K	$157K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	+0.122%	$103.0M	$371.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2456	+0.163%	$72.1M	$108.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	+0.204%	$32.6M	$107.5M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2454	+0.082%	$97.9M	$60.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	+0.082%	$59.0M	$52.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	+0.098%	$29.9M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2456	+0.163%	$65.7M	$47.1M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	+0.122%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2454	+0.073%	$130K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2452	+0.002%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.071%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2455	+0.118%	$299K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.082%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	+0.024%	$93K	$669K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	+0.041%	$6K	$27K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2454	+0.101%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2453	+0.039%	$8K	$761K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2454	+0.082%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	+0.081%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2453	+0.041%	$47.7M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	+0.098%	$532K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2452	0.000%	$21K	$250	20x	as long as short
Kalshi KXADAPERPlong	+0.0108%	8h	0.2452	long leg	$163K	$6.3M	3.2x
Phoenix ADA	+0.0163%	1h	0.2454	+0.069%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0200%	1h	0.2456	+0.159%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2452	+0.019%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0354%	1h	0.2454	+0.073%	$6.2M	$12.1M	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0415% / S −0.0202%	1h	0.2452	+0.010%	$95K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0443%	1h	0.2454	+0.098%	$502K	$470K	50x	as long as short