ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.6% APRnext payment −$0.04 per $10,000 · paid last 24h −0.026%

Price spread now: dYdX against Phoenix−0.174%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$316as in the Funding arb table

Net, price: spread back to 7d avg − costs−$336as in the Price arb table

costs, in and out, $10k−$3253.255% of the position

Long on Phoenix Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$10 on $10k

Price spread, last 4 days (all we have)+0.035%+$4 · spread now −0.174%, 7d avg −0.066%

Together, before fees+0.130%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and dYdX is 0.108% cheaper against Phoenix than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.066%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.095%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ADA	0.2425	0.0032	pay 0.0004% / 1h	29m 19s	$4K	$105K	10x
Short	dYdX ADA-USD	0.2421	0	get 0.0000% / 1h	29m 19s	$199K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Phoenix. 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 PhoenixbpFee dYdXbpOrdersPrice spread, now −0.174%Rate

Funding earned: −$6.81
Price spread: −0.174% → −0.066%: −$10.81
Slippage, 4 orders: −$308.46
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$343.08
Costs to cover: 3.255%
Break-even: never at this rate

Slippage from Phoenix: live order book, 24 min ago; dYdX: live order book, 20 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 Phoenix live order book, 24 min ago	0.81 bp	13.0 bp −$13	52.4 bp −$524	doesn't fit	doesn't fit
Sell dYdX live order book, 20 min ago	143.70 bp	150.7 bp −$151	152.5 bp −$1,525	152.7 bp −$15.3K	156.5 bp −$78.2K

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-USDshort	0.0000%	1h	0.2421	−0.174%	$199K	$2K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2420	−0.202%	$163K	$7.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2421	−0.144%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2422	−0.125%	$6.2M	$13.6M	50x	as long as short
Phoenix ADAlong	+0.0032%	1h	0.2425	long leg	$4K	$105K	10x
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.901%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2423	−0.091%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2423	−0.066%	$41.8M	$17.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2423	−0.080%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2422	−0.108%	$155K	$176K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2423	−0.088%	$101.4M	$404.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2421	−0.161%	$71.2M	$121.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2422	−0.120%	$32.5M	$114.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2422	−0.120%	$98.2M	$64.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2422	−0.120%	$53.5M	$64.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2423	−0.082%	$29.0M	$15.7M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2422	−0.120%	$65.9M	$53.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2422	−0.120%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2424	−0.058%	$112K	$469K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2416	−0.362%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2424	−0.020%	$65K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2420	−0.196%	$284K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2422	−0.120%	$150K	$820K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2424	−0.049%	$122K	$883K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2421	−0.161%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2422	−0.110%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2424	−0.039%	$8K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2422	−0.107%	$333	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2421	−0.163%	$1.3M	$6.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2423	−0.078%	$47.2M	$7.1M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2423	−0.085%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2424	−0.023%	$527K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2420	−0.202%	$380K	$8.2M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2420	−0.202%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2423	−0.077%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0576%	1h	0.2423	−0.062%	$597K	$552K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0641% / S −0.0618%	1h	0.2422	−0.123%	$143K	—	100x	as long as short