Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against Phemex+0.025%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$440.442% of the position

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 4 days (all we have)−0.249%−$25 · spread now +0.025%, 7d avg +0.007%

Together, before fees−0.213%+ Points / potential airdropAster: Stage 5 · farm board−$21 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2457	0.0100	pay 0.0100% / 8h	4h 40m	$47.9M	$6.5M	50x
Short	Aster ADAUSDT	0.2458	0.0100	get 0.0100% / 8h	4h 40m	$1.2M	$983K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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 PhemexbpFee AsterbpOrdersPrice spread, now +0.025%Rate

Funding earned: $0
Price spread: +0.025% → +0.007%: $1.84
Slippage, 4 orders: −$24.22
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$42.38
Costs to cover: 0.442%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Aster: live order book, 2 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 Phemex live order book, 3 min ago	2.04 bp	8.0 bp −$8	12.1 bp −$121	33.7 bp −$3,366	doesn't fit
Sell Aster live order book, 2 min ago	4.08 bp	13.9 bp −$14	28.6 bp −$286	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	0.2454	−0.140%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2457	0.000%	$160K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.107%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.570%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2453	−0.163%	$425K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2457	−0.013%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2459	+0.073%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDTshort	+0.0100%	8h	0.2458	+0.025%	$1.2M	$983K	75x
Pacifica ADA	+0.0100%	1h	0.2455	−0.086%	$159K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2462	+0.205%	$104.1M	$373.0M	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	0.2461	+0.163%	$71.7M	$111.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2464	+0.285%	$32.8M	$106.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2457	0.000%	$98.1M	$59.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2457	0.000%	$61.3M	$60.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2457	−0.012%	$29.6M	$15.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2461	+0.163%	$66.1M	$50.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2458	+0.041%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2458	+0.049%	$124K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	−0.120%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.170%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	−0.366%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	−0.407%	$226K	$743K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	−0.090%	$94K	$687K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	−0.041%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	−0.036%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	−0.081%	$9K	$739K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2456	−0.041%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	−0.113%	$1.3M	$6.4M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2457	long leg	$47.9M	$6.5M	50x
Extended ADA-USD	+0.0104%	1h	0.2461	+0.178%	$532K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2455	−0.065%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0141%	1h	0.2461	+0.155%	$42.7M	$14.9M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2454	−0.106%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2458	+0.041%	$4.5M	$5.7M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2453	−0.143%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0593% / S −0.0547%	1h	0.2454	−0.126%	$132K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0605%	1h	0.2457	0.000%	$594K	$494K	50x	as long as short