Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.020%

Price spread now: dYdX against KuCoin−0.265%137s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$244as 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−$2332.334% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.107%−$11 on $10k

Price spread, last 4 days (all we have)+0.237%+$24 · spread now −0.265%, 7d avg −0.015%

Together, before fees+0.129%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.250% cheaper against KuCoin than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.015%). Swap the legs. The two prices were read 137 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	KuCoin ADAUSDTM	0.2467	0.0100	pay 0.0100% / 8h	5h 46m	$29.6M	$15.4M	75x
Short	dYdX ADA-USD	0.2460	0	get 0.0000% / 1h	46m 23s	$206K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against KuCoin. 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 KuCoinbpFee dYdXbpOrdersPrice spread, now −0.265%Rate

Funding earned: −$21
Price spread: −0.265% → −0.015%: −$25
Slippage, 4 orders: −$211.37
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$279.38
Costs to cover: 2.334%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; dYdX: live order book, 1 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 KuCoin live order book, 6 min ago	1.42 bp	11.2 bp −$11	18.8 bp −$188	doesn't fit	doesn't fit
Sell dYdX live order book, 1 min ago	99.17 bp	104.2 bp −$104	176.4 bp −$1,764	187.9 bp −$18.8K	191.6 bp −$95.8K

ADA on 36 exchanges

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-USDshort	0.0000%	1h	0.2460	−0.265%	$206K	$5K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2462	−0.195%	$237K	$7.7M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2460	−0.268%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0031%	1h	0.2466	−0.025%	$6.3M	$13.2M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.170%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2463	−0.142%	$2.4M	$935K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2468	+0.065%	$44.0M	$17.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2467	−0.001%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2463	−0.161%	$158K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2467	−0.001%	$105.5M	$381.4M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2466	−0.032%	$74.2M	$121.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2467	+0.008%	$32.6M	$107.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2466	−0.032%	$101.6M	$59.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2466	−0.032%	$51.3M	$68.0M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2467	long leg	$29.6M	$15.4M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2466	−0.032%	$67.4M	$49.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2466	−0.032%	—	$18.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2462	−0.186%	$140K	$448K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	−0.200%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2462	−0.181%	$66K	$290K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2462	−0.196%	$288K	$3.6M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2463	−0.154%	$70K	$896K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2466	−0.041%	$118K	$1.3M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2465	−0.073%	$6K	$5K	20x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2463	−0.154%	$8K	$670K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2467	−0.012%	$339	$6K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2466	−0.042%	$1.3M	$6.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2466	−0.032%	$47.6M	$7.5M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2462	−0.195%	$19K	$589	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2465	−0.065%	$543K	$1.7M	50x	as long as short
Phoenix ADA	+0.0161%	1h	0.2463	−0.142%	$3K	$104K	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0176%	1h	0.2467	+0.008%	$400K	$8.0M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2462	−0.195%	$4.6M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0269%	1h	0.2466	−0.041%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0277%	1h	0.2467	+0.012%	$597K	$810K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0369% / S −0.0295%	1h	0.2466	−0.035%	$87K	—	100x	as long as short