Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0100%/8hnext payment −$1.00 per $10,000 · paid last 24h −0.030%

Price spread now: Kalshi against OKX−0.082%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on OKX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 7 days+0.193%+$19 · spread now −0.082%, 7d avg −0.042%

Together, before fees−0.040%−$4 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 Kalshi is 0.040% cheaper against OKX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ADA-USDT-SWAP	0.2437	0.0100	pay 0.0100% / 8h	4h 04m	$32.2M	$103.0M	50x
Short	Kalshi KXADAPERP	0.2435	0	get 0.0000% / 8h	4m 10s	$131K	$5.8M	3.2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.082%Rate

Funding earned: −$21
Price spread: −0.082% → −0.042%: −$4.04
Slippage, 4 orders: −$12.32
Fee OKX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$57.37
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Kalshi: live order book, 4 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	2.05 bp	7.1 bp −$7	12.9 bp −$129	40.9 bp −$4,092	doesn't fit
Sell Kalshi live order book, 4 min ago	4.11 bp	9.1 bp −$9	19.1 bp −$191	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
Injective ADA/USDC PERP	−0.0071%	1h	0.2441	+0.164%	$838	$97K	12x	as long as short
dYdX ADA-USD	0.0000%	1h	0.2433	−0.170%	$200K	$4K	10x	as long as short
Kalshi KXADAPERPshort	0.0000%	8h	0.2435	−0.082%	$131K	$5.8M	3.2x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2435	−0.084%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2433	−0.164%	$454K	$7.1M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2438	+0.049%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2435	−0.090%	$42.3M	$13.9M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2434	−0.135%	$1.1M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2434	−0.125%	$155K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2438	+0.021%	$101.5M	$345.5M	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	0.2436	−0.041%	$70.8M	$98.9M	75x	as long as short
OKX ADA-USDT-SWAPlong	+0.0100%	8h	0.2437	long leg	$32.2M	$103.0M	50x
Gate ADA_USDT	+0.0100%	8h	0.2433	−0.164%	$95.8M	$56.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2436	−0.041%	$52.4M	$57.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2434	−0.123%	$30.3M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2436	−0.041%	$64.5M	$41.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2433	−0.164%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2433	−0.168%	$104K	$420K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2431	−0.226%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2436	−0.039%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2434	−0.129%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2435	−0.082%	$55K	$573K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2434	−0.107%	$96K	$733K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2436	−0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2436	−0.044%	$39K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2436	−0.041%	$9K	$751K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2432	−0.226%	$334	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2437	+0.004%	$1.3M	$4.6M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2436	−0.041%	$47.4M	$5.3M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2436	−0.061%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2436	−0.046%	$586K	$1.8M	50x	as long as short
Phoenix ADA	+0.0197%	1h	0.2436	−0.049%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2432	−0.205%	$4.4M	$5.1M	75x	as long as short
Reya ADARUSDPERP	+0.0289%	1h	0.2433	−0.145%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0407%	1h	0.2437	+0.016%	$476K	$360K	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0425%	1h	0.2437	+0.008%	$6.1M	$10.8M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0436% / S −0.0207%	1h	0.2434	−0.110%	$95K	—	100x	as long as short