Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0180%/8h= −19.8% APRpaid last 24h −0.017%

Price spread now: BingX against Kraken Futures+0.035%53s7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.371% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.192%−$19 · spread now +0.035%, 7d avg −0.001%

Together, before fees−0.193%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.036% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of −0.001%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.001% in total) that is about 11 months. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2444	0.0280	pay 0.0035% / 1h	17m 29s	$6.3M	$14.0M	50x
Short	BingX ADA-USDT	0.2445	0.0100	get 0.0100% / 8h	17m 29s	—	$20.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$37.9
Price spread: +0.035% → −0.001%: $3.6
Slippage, 4 orders: −$17.1
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$71.4
Costs to cover: 0.371%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; BingX: live order book, 11 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 Kraken Futures live order book, 2 min ago	2.66 bp	13.5 bp −$14	20.3 bp −$203	39.9 bp −$3,988	doesn't fit
Sell BingX live order book, 11 min ago	2.05 bp	7.0 bp −$7	7.1 bp −$71	15.9 bp −$1,588	33.9 bp −$16.9K

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	0.2444	−0.026%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2444	+0.011%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.098%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2447	+0.100%	$2.4M	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2444	−0.006%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2445	+0.036%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2445	+0.047%	$157K	$180K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2447	+0.108%	$103.3M	$407.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2445	+0.035%	$72.8M	$126.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2445	+0.035%	$32.5M	$118.4M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2444	−0.006%	$99.8M	$65.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2445	+0.035%	$51.9M	$65.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	+0.043%	$29.6M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2445	+0.035%	$66.4M	$54.0M	75x	as long as short
BingX ADA-USDTshort	+0.0100%	8h	0.2445	+0.035%	—	$20.2M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2444	+0.010%	$138K	$484K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2438	−0.249%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2443	−0.062%	$65K	$288K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.018%	$295K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2444	−0.006%	$76K	$894K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2445	+0.043%	$120K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2444	−0.008%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2442	−0.074%	$8K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	+0.014%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2441	−0.131%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2443	−0.047%	$47.3M	$7.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2446	+0.055%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2444	+0.009%	$500K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0104%	8h	0.2443	−0.047%	$245K	$7.7M	3.2x	as long as short
Hyperliquid ADA	+0.0105%	1h	0.2447	+0.129%	$43.0M	$18.1M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2440	−0.170%	$376K	$8.4M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2443	−0.047%	$4.5M	$5.8M	75x	as long as short
Phoenix ADA	+0.0228%	1h	0.2443	−0.035%	$2K	$112K	10x	as long as short
Reya ADARUSDPERP	+0.0273%	1h	0.2445	+0.036%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0280%	1h	0.2444	long leg	$6.3M	$14.0M	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0369% / S −0.0295%	1h	0.2442	−0.082%	$87K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0609%	1h	0.2446	+0.063%	$623K	$614K	50x	as long as short