Funding you earn now, next payment 23:00 UTC+0.0130%/8h= +14.2% APRpaid last 24h +0.021%
Price spread now: Phoenix against Kalshi+0.211%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.013%+$1 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.211% dearer against Kalshi than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXADAPERP | 0.2470 | 0 | get 0.0000% / 8h | 4h 44m | $168K | $6.0M | 3.2x |
| Short | Phoenix ADA | 0.2475 | 0.0130 | get 0.0016% / 1h | 44m 43s | $4K | $78K | 10x |
Kalshi KXADAPERP
Phoenix ADAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Kalshi. 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
- $27.28
- Price spread: +0.211% → 0.000%
- $21.05
- Slippage, 4 orders
- no order book: not counted
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $31.33
- Costs to cover
- 0.170%
- Break-even
- from the start
Slippage unknown: Kalshi: live order book, 4 min ago; Phoenix: no order-book sample. 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 Kalshi live order book, 4 min ago | 6.08 bp | 11.1 bp −$11 | 18.9 bp −$189 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 | 0.2467 | −0.131% | $203K | $4K | 10x | as long as short |
| Kalshi KXADAPERPlong | 0.0000% | 8h | 0.2470 | long leg | $168K | $6.0M | 3.2x | |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2468 | −0.098% | $85K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2463 | −0.283% | $406K | $7.3M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2467 | −0.105% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2468 | −0.081% | $42.7M | $14.2M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2467 | −0.105% | $1.2M | $924K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2470 | −0.014% | $159K | $144K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2467 | −0.141% | $102.7M | $362.0M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2465 | −0.202% | $71.9M | $102.5M | 75x | as long as short |
dYdX ADA-USD
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2467 | −0.121% | $32.5M | $107.4M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2467 | −0.121% | $97.9M | $59.4M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2466 | −0.162% | $53.3M | $50.6M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2467 | −0.117% | $30.3M | $18.0M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2467 | −0.121% | $66.2M | $43.2M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2467 | −0.121% | — | $6.6M | — | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2468 | −0.073% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2469 | −0.022% | $66K | $281K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2468 | −0.081% | $298K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2461 | −0.364% | $55K | $582K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2467 | −0.105% | $96K | $625K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2467 | −0.121% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2468 | −0.074% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2470 | −0.001% | $9K | $762K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2467 | −0.101% | $339 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2469 | −0.031% | $1.3M | $5.3M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2466 | −0.162% | $48.2M | $5.9M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2470 | −0.013% | $21K | $250 | 20x | as long as short |
| Backpack ADA_USDC_PERP | +0.0103% | 1h | 0.2468 | −0.069% | $110K | $415K | 15x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2467 | −0.139% | $558K | $1.8M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0113% | 1h | 0.2467 | −0.108% | $6.2M | $11.6M | 50x | as long as short |
| Phoenix ADAshort | +0.0130% | 1h | 0.2475 | +0.211% | $4K | $78K | 10x | |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2470 | 0.000% | $4.4M | $5.5M | 75x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0236% | 1h | 0.2468 | −0.069% | $501K | $423K | 50x | as long as short |
| Injective ADA/USDC PERP | +0.0254% | 1h | 0.2471 | +0.040% | $849 | $202K | 12x | as long as short |
| Reya ADARUSDPERP | +0.0284% | 1h | 0.2467 | −0.118% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0566% / S −0.0313% | 1h | 0.2467 | −0.122% | $123K | — | 100x | as long as short |
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
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
Backpack ADA_USDC_PERP
Extended ADA-USD
Kraken Futures PF_ADAUSD
BloFin ADA-USDT
Deribit ADA_USDC-PERPETUAL
Injective ADA/USDC PERP
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]