Funding you earn now, next payment 11:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h 0.000%
Price spread now: Injective against Phemex0.000%7-day average −0.300% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.052%−$5 on $10k
+Price spread, last 4 days (all we have)−0.585%−$59 · spread now 0.000%, 7d avg −0.300%
=The price spread pays, funding is against you. Injective is 0.300% dearer against Phemex than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.300%): +$30 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 15 days. At the pace of the last 7 days (−0.052% in total) that is about 40 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ADAUSDT | 0.2471 | 0.0100 | pay 0.0100% / 8h | 5h 53m | $47.7M | $7.5M | 50x |
| Short | Injective ADA/USDC PERP | 0.2471 | 0.0033 | get 0.0004% / 1h | 53m 15s | $849 | $202K | 12x |
Phemex ADAUSDT
Injective ADA/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14
- Price spread: 0.000% → −0.300%
- $30.03
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $4.01
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Phemex: live order book, 4 min ago; Injective: no order-book sample. Net counts fees only.
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, 4 min ago | 2.02 bp | 8.0 bp −$8 | 11.9 bp −$119 | 35.6 bp −$3,560 | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
ADA on 36 exchanges
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 | 0.2471 | −0.011% | $206K | $5K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2472 | +0.040% | $233K | $7.7M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2470 | −0.034% | $85K | — | 150x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0031% | 1h | 0.2471 | −0.016% | $6.3M | $13.2M | 50x | as long as short |
| Injective ADA/USDC PERPshort | +0.0033% | 1h | 0.2471 | 0.000% | $849 | $202K | 12x | |
| Lighter ADA | +0.0096% | 1h | 0.2471 | +0.008% | $2.4M | $934K | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2471 | −0.008% | $1.2M | $1.0M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2471 | 0.000% | $158K | $151K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2471 | −0.015% | $105.9M | $381.1M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2470 | −0.040% | $74.3M | $121.4M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Kraken Futures PF_ADAUSD
Lighter ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDTShow all 36 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2469 | −0.081% | $32.7M | $107.9M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2468 | −0.121% | $101.6M | $59.7M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2470 | −0.040% | $49.8M | $67.8M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2471 | −0.016% | $29.6M | $15.3M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2470 | −0.040% | $67.6M | $50.0M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2470 | −0.040% | — | $18.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2470 | −0.020% | $141K | $449K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2472 | +0.035% | $4.2M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2475 | +0.143% | $66K | $289K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2473 | +0.081% | $290K | $3.6M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2473 | +0.081% | $70K | $896K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2470 | −0.020% | $119K | $1.3M | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2469 | −0.081% | $6K | $5K | 20x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2471 | −0.001% | $8K | $672K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2470 | −0.020% | $340 | $6K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2471 | −0.010% | $1.3M | $6.8M | 75x | as long as short |
| Phemex ADAUSDTlong | +0.0100% | 8h | 0.2471 | long leg | $47.7M | $7.5M | 50x | |
| Paradex ADA-USD-PERP | +0.0101% | 8h | 0.2470 | −0.026% | $20K | $589 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2470 | −0.053% | $543K | $1.7M | 50x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0114% | 1h | 0.2471 | +0.012% | $608K | $798K | 50x | as long as short |
| Hyperliquid ADA | +0.0120% | 1h | 0.2472 | +0.032% | $44.1M | $17.4M | 10x | as long as short |
| Phoenix ADA | +0.0161% | 1h | 0.2472 | +0.061% | $3K | $104K | 10x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0176% | 1h | 0.2472 | +0.040% | $404K | $8.0M | 50x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2470 | −0.040% | $4.6M | $5.5M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0270% | 1h | 0.2470 | −0.048% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0369% / S −0.0295% | 1h | 0.2470 | −0.050% | $88K | — | 100x | as long as short |
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Paradex ADA-USD-PERP
Extended ADA-USD
Deribit ADA_USDC-PERPETUAL
Hyperliquid ADA
Phoenix ADA
Coinbase International ADA-PERP-INTX
BloFin ADA-USDT
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]