Funding you earn now, next payment 05:00 UTC+0.0072%/8h= +7.8% APRnext payment +$0.09 per $10,000 · paid last 24h −0.003%
Price spread now: Extended against Phoenix−0.372%7-day average −0.086% · you buy dearer than you sell
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$350.351% of the position
Funding, last 7 days+0.173%+$17 on $10k
+Price spread, last 4 days (all we have)+0.242%+$24 · spread now −0.372%, 7d avg −0.086%
=Together, before fees+0.415%+ Points / potential airdropExtended: Active · farm board+$41 on $10k · with fees, hour by hour
Funding pays, the price is against you. Extended is 0.286% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.372% now, against its 7-day average of −0.086%). If the spread goes back, that is −$29 on $10k: about 13 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ADA | 0.2450 | 0.0032 | pay 0.0004% / 1h | 57m 24s | $4K | $104K | 10x |
| Short | Extended ADA-USD | 0.2441 | 0.0104 | get 0.0013% / 1h | 57m 24s | $524K | $1.8M | 50x |
Phoenix ADA
Extended ADA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Phoenix. 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
- $15.03
- Price spread: −0.372% → −0.086%
- −$28.63
- Slippage, 4 orders
- −$23.1
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$48.7
- Costs to cover
- 0.351%
- Break-even
- 29.7 days
Slippage from Phoenix: live order book, 55 min ago; Extended: live order book, 1 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, 55 min ago | 0.81 bp | 13.0 bp −$13 | 52.4 bp −$524 | doesn't fit | doesn't fit |
| Sell Extended live order book, 1 min ago | 2.04 bp | 4.5 bp −$5 | 7.7 bp −$77 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2448 | −0.078% | $187K | $7.6M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2441 | −0.353% | $83K | — | 150x | as long as short |
| Phoenix ADAlong | +0.0032% | 1h | 0.2450 | long leg | $4K | $104K | 10x | |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +0.861% | $849 | $202K | 12x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2440 | −0.404% | $6K | $6K | 20x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2443 | −0.282% | $1.2M | $1.1M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2444 | −0.225% | $157K | $178K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2442 | −0.316% | $102.8M | $410.4M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2441 | −0.363% | $72.1M | $124.8M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2441 | −0.363% | $32.4M | $118.1M | 50x | as long as short |
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Orderly PERP_ADA_USDC
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAPShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ADA_USDT | +0.0100% | 8h | 0.2441 | −0.363% | $99.8M | $63.9M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2443 | −0.282% | $52.1M | $64.3M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2442 | −0.335% | $29.3M | $15.8M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2440 | −0.404% | $66.3M | $53.5M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2443 | −0.282% | — | $20.2M | — | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2448 | −0.076% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2445 | −0.193% | $65K | $285K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2448 | −0.076% | $288K | $4.0M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2450 | +0.004% | $82K | $889K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2441 | −0.355% | $129K | $1.1M | 10x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2447 | −0.127% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2452 | +0.082% | $8K | $765K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2446 | −0.167% | $336 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2446 | −0.149% | $1.3M | $7.0M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2446 | −0.159% | $47.5M | $7.4M | 50x | as long as short |
| Extended ADA-USDshort | +0.0104% | 1h | 0.2441 | −0.372% | $524K | $1.8M | 50x | |
| Paradex ADA-USD-PERP | +0.0105% | 8h | 0.2446 | −0.146% | $21K | $250 | 20x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0120% | 1h | 0.2444 | −0.241% | $377K | $8.6M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0170% | 1h | 0.2445 | −0.206% | $6.3M | $13.8M | 50x | as long as short |
| Backpack ADA_USDC_PERP | +0.0206% | 1h | 0.2446 | −0.159% | $137K | $484K | 15x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2447 | −0.118% | $4.4M | $5.8M | 75x | as long as short |
| Lighter ADA | +0.0240% | 1h | 0.2445 | −0.200% | $2.4M | $1.0M | 10x | as long as short |
| Reya ADARUSDPERP | +0.0275% | 1h | 0.2442 | −0.322% | $1K | — | 15x | as long as short |
| Hyperliquid ADA | +0.0318% | 1h | 0.2444 | −0.229% | $42.9M | $18.3M | 10x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0404% | 1h | 0.2447 | −0.098% | $623K | $613K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0630% / S −0.0728% | 1h | 0.2441 | −0.360% | $164K | — | 100x | as long as short |
| dYdX ADA-USD | +0.0862% | 1h | 0.2443 | −0.267% | $201K | $2K | 10x | as long as short |
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Coinbase International ADA-PERP-INTX
Kraken Futures PF_ADAUSD
Backpack ADA_USDC_PERP
BloFin ADA-USDT
Lighter ADA
Reya ADARUSDPERP
Hyperliquid ADA
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]
dYdX ADA-USD