Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.006%

Price spread now: Coinbase International against OKX+0.041%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$400.395% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.041%, 7d avg −0.036%

Together, before fees−0.107%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.077% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ADA-USDT-SWAP	0.2422	0.0100	pay 0.0100% / 8h	2h 29m	$32.4M	$114.7M	50x
Short	Coinbase International ADA-PERP-INTX	0.2423	0.0104	get 0.0013% / 1h	29m 11s	$381K	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0.84
Price spread: +0.041% → −0.036%: $7.7
Slippage, 4 orders: −$19.51
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$30.97
Costs to cover: 0.395%
Break-even: 265.1 days

Slippage from OKX: live order book, 5 min ago; Coinbase International: live order book, 5 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 OKX live order book, 5 min ago	2.06 bp	7.6 bp −$8	13.0 bp −$130	44.4 bp −$4,438	doesn't fit
Sell Coinbase International live order book, 5 min ago	4.13 bp	15.7 bp −$16	20.6 bp −$206	doesn't fit	doesn't fit

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	0.2421	−0.054%	$199K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2423	+0.041%	$163K	$7.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2421	−0.024%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2421	−0.037%	$6.2M	$13.6M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2425	+0.120%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+2.023%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2423	+0.037%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2423	+0.054%	$41.8M	$17.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2422	−0.005%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2422	+0.012%	$155K	$176K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2422	0.000%	$101.3M	$404.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2421	−0.041%	$71.2M	$121.9M	75x	as long as short
OKX ADA-USDT-SWAPlong	+0.0100%	8h	0.2422	long leg	$32.4M	$114.7M	50x
Gate ADA_USDT	+0.0100%	8h	0.2422	0.000%	$98.2M	$64.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2420	−0.083%	$53.5M	$64.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2422	−0.012%	$29.0M	$15.7M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2421	−0.041%	$65.9M	$53.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2421	−0.041%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2422	−0.017%	$112K	$469K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2416	−0.243%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2424	+0.100%	$65K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2420	−0.076%	$284K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2422	0.000%	$150K	$820K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2424	+0.070%	$122K	$883K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2421	−0.041%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2422	+0.009%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2424	+0.081%	$8K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2422	0.000%	$333	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2425	+0.120%	$1.3M	$6.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2421	−0.041%	$47.2M	$7.1M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2423	+0.034%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2422	+0.014%	$527K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0104%	1h	0.2423	+0.041%	$381K	$8.3M	50x
BloFin ADA-USDT	+0.0220%	8h	0.2423	+0.041%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2423	+0.043%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0493%	1h	0.2424	+0.078%	$597K	$552K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0641% / S −0.0618%	1h	0.2422	−0.004%	$143K	—	100x	as long as short