Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.004%

Price spread now: Deribit against OKX+0.119%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$320.325% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 3 days (all we have)+0.073%+$7 · spread now +0.119%, 7d avg +0.024%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.095% dearer against OKX than usual: you sell high and buy low (spread +0.119% now, against its 7-day average of +0.024%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ADA-USDT-SWAP	0.2447	0.0100	pay 0.0100% / 8h	2h 00m	$31.8M	$105.1M	50x
Short	Deribit ADA_USDC-PERPETUAL	0.2450	0	get 0.0000% / 1h	0m 03s	$476K	$353K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.119%Rate

Funding earned: −$21
Price spread: +0.119% → +0.024%: $9.45
Slippage, 4 orders: −$15.47
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$44.02
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Deribit: live order book, 24 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, 4 min ago	2.04 bp	9.4 bp −$9	13.9 bp −$139	45.7 bp −$4,569	doesn't fit
Sell Deribit live order book, 24 min ago	3.05 bp	7.3 bp −$7	14.5 bp −$145	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	0.2448	+0.048%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2449	+0.082%	$153K	$5.9M	3.2x	as long as short
Deribit ADA_USDC-PERPETUALshort	0.0000%	1h	0.2450	+0.119%	$476K	$353K	50x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	+0.071%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.286%	$407K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2450	+0.119%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2449	+0.076%	$42.4M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2449	+0.064%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2448	+0.059%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2448	+0.034%	$101.4M	$355.9M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2447	0.000%	$70.4M	$99.9M	75x	as long as short
OKX ADA-USDT-SWAPlong	+0.0100%	8h	0.2447	long leg	$31.8M	$105.1M	50x
Gate ADA_USDT	+0.0100%	8h	0.2447	0.000%	$96.5M	$58.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	0.000%	$52.6M	$56.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	+0.045%	$30.2M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2447	0.000%	$65.5M	$42.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2447	0.000%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2449	+0.078%	$101K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	+0.098%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	+0.109%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2445	−0.098%	$295K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2444	−0.123%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	+0.069%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2449	+0.082%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2449	+0.092%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2449	+0.080%	$9K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2449	+0.065%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2448	+0.038%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2449	+0.082%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2449	+0.088%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.012%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2452	+0.196%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2449	+0.082%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2449	+0.073%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2448	+0.053%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2448	+0.057%	$109K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2445	−0.082%	$840	$168K	12x	as long as short