ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0036%/8h= −4.0% APRnext payment −$0.05 per $10,000 · paid last 24h +0.019%

Price spread now: Kraken Futures against Phoenix+0.037%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.226%+$23 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Kraken Futures is 0.037% dearer against Phoenix than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.226%, 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	0.2458	0.0131	pay 0.0016% / 1h	5m 20s	$4K	$74K	10x
Short	Kraken Futures PF_ADAUSD	0.2459	0.0095	get 0.0012% / 1h	5m 20s	$6.2M	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$7.58
Price spread: +0.037% → 0.000%: $3.71
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$20.87
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Kraken Futures: live order book, 4 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 4 min ago	2.04 bp	13.0 bp −$13	16.4 bp −$164	43.6 bp −$4,360	doesn't fit

Phoenix: 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 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	0.2457	−0.067%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2461	+0.110%	$171K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2459	+0.010%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2453	−0.216%	$411K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0095%	1h	0.2459	+0.037%	$6.2M	$11.6M	50x
Lighter ADA	+0.0096%	1h	0.2461	+0.106%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2460	+0.089%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2460	+0.054%	$1.2M	$924K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2457	−0.042%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2459	+0.045%	$102.2M	$360.5M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2459	+0.028%	$71.6M	$102.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2459	+0.028%	$31.9M	$106.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2458	−0.012%	$97.2M	$59.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2459	+0.028%	$52.2M	$51.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	−0.008%	$30.2M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2459	+0.028%	$66.0M	$43.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2459	+0.028%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2460	+0.057%	$107K	$417K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2457	−0.046%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	−0.192%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2456	−0.097%	$295K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	−0.216%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	+0.049%	$96K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2460	+0.069%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2460	+0.067%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2460	+0.069%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2460	+0.049%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2459	+0.015%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2459	+0.028%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2459	+0.017%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2459	+0.009%	$554K	$1.8M	50x	as long as short
Phoenix ADAlong	+0.0131%	1h	0.2458	long leg	$4K	$74K	10x
BloFin ADA-USDT	+0.0220%	8h	0.2459	+0.028%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2460	+0.052%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.517%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0567% / S −0.0313%	1h	0.2459	+0.018%	$122K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.8656%	1h	0.2479	+0.834%	$485K	$377K	50x	as long as short