Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0008%/8h= −0.8% APRpaid last 24h +0.016%

Price spread now: Kraken Futures against OKX−0.028%7-day average +0.003% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 4 days (all we have)+0.211%+$21 · spread now −0.028%, 7d avg +0.003%

Together, before fees+0.251%+$25 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: Kraken Futures is 0.031% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ADA-USDT-SWAP	0.2452	0.0100	pay 0.0100% / 8h	4h 39m	$32.7M	$105.4M	50x
Short	Kraken Futures PF_ADAUSD	0.2451	0.0092	get 0.0012% / 1h	39m 12s	$6.3M	$12.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$1.61
Price spread: −0.028% → +0.003%: −$3.08
Slippage, 4 orders: −$21.27
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$45.96
Costs to cover: 0.413%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Kraken Futures: 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	2.04 bp	7.0 bp −$7	12.6 bp −$126	53.8 bp −$5,383	doesn't fit
Sell Kraken Futures live order book, 5 min ago	4.07 bp	12.3 bp −$12	17.5 bp −$175	51.5 bp −$5,152	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	0.2455	+0.124%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2455	+0.122%	$160K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	+0.056%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.775%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2455	+0.122%	$426K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0092%	1h	0.2451	−0.028%	$6.3M	$12.8M	50x
Lighter ADA	+0.0096%	1h	0.2454	+0.061%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.122%	$1.2M	$983K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.118%	$159K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2452	+0.003%	$103.8M	$372.5M	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	0.2451	−0.041%	$71.5M	$110.9M	75x	as long as short
OKX ADA-USDT-SWAPlong	+0.0100%	8h	0.2452	long leg	$32.7M	$105.4M	50x
Gate ADA_USDT	+0.0100%	8h	0.2453	+0.041%	$98.0M	$59.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2452	0.000%	$61.0M	$60.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	+0.077%	$29.6M	$15.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2452	0.000%	$65.9M	$49.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2454	+0.082%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2457	+0.200%	$124K	$443K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	+0.083%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	+0.034%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	+0.077%	$295K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.041%	$226K	$743K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.114%	$94K	$688K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2452	0.000%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	+0.020%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	+0.164%	$9K	$739K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	+0.020%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2455	+0.121%	$1.3M	$6.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2451	−0.041%	$47.8M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2451	−0.025%	$532K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2454	+0.094%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0142%	1h	0.2457	+0.188%	$42.7M	$14.7M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2461	+0.383%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.204%	$4.5M	$5.7M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2455	+0.102%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0444%	1h	0.2453	+0.037%	$593K	$493K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0593% / S −0.0547%	1h	0.2453	+0.046%	$132K	—	100x	as long as short