Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Binance against Phemex+0.327%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 3 days (all we have)−0.555%−$56 · spread now +0.327%, 7d avg +0.012%

Together, before fees−0.578%−$58 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: Binance is 0.315% dearer against Phemex than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2443	0.0100	pay 0.0100% / 8h	2h 03m	$47.7M	$5.8M	50x
Short	Binance ADAUSDT	0.2451	0.0100	get 0.0100% / 8h	2h 03m	$101.6M	$355.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.327%Rate

Funding earned: $0
Price spread: +0.327% → +0.012%: $31.54
Slippage, 4 orders: −$11.85
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$2.3
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Binance: live order book, 10 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, 5 min ago	2.04 bp	8.0 bp −$8	15.0 bp −$150	43.2 bp −$4,319	doesn't fit
Sell Binance live order book, 10 min ago	2.04 bp	7.0 bp −$7	11.2 bp −$112	29.1 bp −$2,910	86.5 bp −$43.2K

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	+0.219%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2444	+0.041%	$153K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2443	−0.011%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.450%	$407K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	+0.356%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	+0.307%	$42.5M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2449	+0.244%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	+0.291%	$157K	$147K	10x	as long as short
Binance ADAUSDTshort	+0.0100%	8h	0.2451	+0.327%	$101.6M	$355.8M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2449	+0.246%	$70.4M	$99.9M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	+0.287%	$31.8M	$105.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2448	+0.205%	$96.5M	$58.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	+0.246%	$52.6M	$56.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	+0.274%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2450	+0.287%	$65.6M	$42.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2449	+0.246%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2445	+0.094%	$101K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2444	+0.057%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	+0.282%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	+0.254%	$296K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	+0.164%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2442	−0.025%	$95K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2443	0.000%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2444	+0.042%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2445	+0.081%	$9K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2444	+0.020%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2443	−0.002%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2443	long leg	$47.7M	$5.8M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2451	+0.326%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	+0.255%	$556K	$1.8M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0118%	1h	0.2445	+0.078%	$475K	$353K	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2446	+0.139%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	+0.164%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2442	−0.029%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0338%	1h	0.2444	+0.026%	$6.1M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0503% / S −0.0263%	1h	0.2442	−0.023%	$109K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2446	+0.123%	$38K	$150K	12x	as long as short