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Funding arb /

ADA

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Funding spread now, next payment 15:00 UTC+0.0034%/8h
next payment, per $10,000+$0.04paid, last 24h+0.026%paid, last 5 days+0.011%to open and close $10k−$40
Long on PhoenixShort on Backpack
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix ADA0.24360.0066pay 0.0008% / 1h18m 58s$4K$103K10x
ShortBackpack ADA_USDC_PERP0.24460.0100get 0.0013% / 1h18m 58s$103K$431K15x

Funding history

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Funding on every exchange

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latest

Profit calculator

Funding earned
$7.24
Slippage, 4 orders
−$23.42
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$33.18
Break-even
39.1 days
Slippage from Phoenix: live order book, 19 min ago; Backpack: live order book, 31 min ago.

Price risk

price view
Price gap now
+0.402%
Avg gap 7d
−0.056%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 19 min ago0.82 bp13.2 bp −$1352.4 bp −$524doesn't fitdoesn't fit
Sell Backpack live order book, 31 min ago1.42 bp7.6 bp −$89.0 bp −$90doesn't fitdoesn't fit

ADA on 36 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Kalshi KXADAPERP0.0000%8h$114K$5.8M3.2xas long as short
gTrade (Gains Network) ADA/USDL +0.0005% / S −0.0003%1h$89K—150xas long as short
Phoenix ADAlong+0.0066%1h$4K$103K10x
Gate ADA_USDT+0.0071%8h$94.7M$59.3M75xas long as short
dYdX ADA-USD+0.0092%1h$202K$2K10xas long as short
Lighter ADA+0.0096%1h$2.3M$1.1M10xas long as short
Hyperliquid ADA+0.0100%1h$42.1M$16.3M10xas long as short
Aster ADAUSDT+0.0100%8h$1.1M$1.4M75xas long as short
Pacifica ADA+0.0100%1h$160K$181K10xas long as short
Binance ADAUSDT+0.0100%8h$101.4M$366.0M75xas long as short
Show all 36 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
Bybit ADAUSDT+0.0100%8h$70.8M$111.9M75xas long as short
OKX ADA-USDT-SWAP+0.0100%8h$32.1M$108.0M50xas long as short
MEXC ADA_USDT+0.0100%8h$52.2M$63.7M300xas long as short
KuCoin ADAUSDTM+0.0100%8h$30.2M$21.2M75xas long as short
Bitget ADAUSDT+0.0100%8h$64.6M$47.0M75xas long as short
BingX ADA-USDC+0.0100%8h—$6.6M—as long as short
Backpack ADA_USDC_PERPshort+0.0100%1h$103K$431K15x
Variational Omni ADA+0.0100%8h$4.2M$1.0M—as long as short
edgeX ADAUSDC+0.0100%4h$65K$277K20xas long as short
ApeX Omni ADAUSDT+0.0100%1h$227K$449K50xas long as short
Polymarket Perps ADA-USD+0.0100%1h$93K$732K10xas long as short
Orderly PERP_ADA_USDC+0.0100%8h$6K$36K20xas long as short
Derive ADA-PERP+0.0100%1h$40K$3K5xas long as short
SunX ADA-USDT+0.0100%8h$9K$807K30xas long as short
SoDEX ADA-USD+0.0100%1h$336$13K10xas long as short
HTX ADA-USDT+0.0100%8h$1.3M$5.2M75xas long as short
Phemex ADAUSDT+0.0100%8h$47.8M$5.8M50xas long as short
Paradex ADA-USD-PERP+0.0100%8h$20K$25020xas long as short
Extended ADA-USD+0.0104%1h$607K$1.7M50xas long as short
Coinbase International ADA-PERP-INTX+0.0120%1h$441K$6.9M50xas long as short
BloFin ADA-USDT+0.0220%8h$4.5M$6.3M75xas long as short
Kraken Futures PF_ADAUSD+0.0222%1h$5.9M$11.3M50xas long as short
Deribit ADA_USDC-PERPETUAL+0.0241%1h$469K$422K50xas long as short
Reya ADARUSDPERP+0.0294%1h$1K—15xas long as short
GMX ADA/USD [WBTC.b-USDC]L +0.0534% / S −0.0286%1h$115K—100xas long as short
Injective ADA/USDC PERP+0.0558%1h$832$124K12xas long as short