Funding you earn now, next payment 21:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h −0.061%
Price spread now: Phemex against Reya−0.096%46s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Phemex is 0.096% cheaper against Reya than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya ADARUSDPERP | 0.2470 | 0.0288 | pay 0.0036% / 1h | 31m 25s | $1K | — | 15x |
| Short | Phemex ADAUSDT | 0.2468 | 0.0100 | get 0.0100% / 8h | 3h 31m | $48.0M | $5.5M | 50x |
Reya ADARUSDPERP
Phemex ADAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Reya. 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
- −$39.47
- Price spread: −0.096% → 0.000%
- −$9.64
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$67.11
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Phemex: live order book, 3 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 Reya no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 3 min ago | 2.03 bp | 11.9 bp −$12 | 18.5 bp −$185 | 46.5 bp −$4,653 | doesn't fit |
Reya: 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 | 0.2471 | +0.020% | $203K | $4K | 10x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2471 | +0.020% | $85K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0032% | 1h | 0.2467 | −0.137% | $440K | $7.2M | 50x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2441 | −1.189% | $838 | $61K | 12x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2472 | +0.061% | $2.5M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2472 | +0.086% | $43.1M | $13.8M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2472 | +0.065% | $1.2M | $1.1M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2470 | −0.003% | $158K | $146K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2471 | +0.043% | $103.2M | $350.7M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2471 | +0.025% | $71.8M | $100.0M | 75x | as long as short |
dYdX ADA-USD
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Injective ADA/USDC PERP
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2471 | +0.025% | $32.7M | $105.6M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2469 | −0.056% | $97.6M | $57.1M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2471 | +0.025% | $53.1M | $56.1M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2471 | +0.013% | $30.4M | $18.2M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2471 | +0.025% | $65.9M | $42.7M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2471 | +0.025% | — | $19.1M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2468 | −0.088% | $102K | $429K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2462 | −0.358% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2464 | −0.239% | $66K | $279K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2464 | −0.264% | $290K | $3.9M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2464 | −0.258% | $55K | $575K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2470 | −0.007% | $97K | $736K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2471 | +0.025% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2472 | +0.061% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2470 | −0.015% | $9K | $756K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2471 | +0.013% | $340 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2469 | −0.070% | $1.3M | $4.6M | 75x | as long as short |
| Phemex ADAUSDTshort | +0.0100% | 8h | 0.2468 | −0.096% | $48.0M | $5.5M | 50x | |
| Kalshi KXADAPERP | +0.0100% | 8h | 0.2469 | −0.056% | $193K | $5.8M | 3.2x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2472 | +0.052% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2470 | −0.006% | $591K | $1.8M | 50x | as long as short |
| Phoenix ADA | +0.0163% | 1h | 0.2470 | −0.011% | $4K | $84K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2469 | −0.056% | $4.5M | $5.2M | 75x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0255% | 1h | 0.2469 | −0.063% | $6.2M | $11.2M | 50x | as long as short |
| Reya ADARUSDPERPlong | +0.0288% | 1h | 0.2470 | long leg | $1K | — | 15x | |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0521% / S −0.0277% | 1h | 0.2470 | +0.003% | $114K | — | 100x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +2.4742% | 1h | 0.2530 | +2.434% | $491K | $359K | 50x | 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
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Kalshi KXADAPERP
Paradex ADA-USD-PERP
Extended ADA-USD
Phoenix ADA
BloFin ADA-USDT
Kraken Futures PF_ADAUSD
GMX ADA/USD [WBTC.b-USDC]
Deribit ADA_USDC-PERPETUAL