Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0137%/8h= +15.0% APRpaid last 24h +0.081%

Price spread now: Deribit against Variational Omni−0.128%7-day average +0.047% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.131%+$13 on $10k

Price spread, last 4 days (all we have)+0.371%+$37 · spread now −0.128%, 7d avg +0.047%

Together, before fees+0.502%+ Points / potential airdropVariational Omni: Active · farm board+$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.176% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.128% now, against its 7-day average of +0.047%). If the spread goes back, that is −$18 on $10k: about 4.3 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ADA	0.2470	0.0100	pay 0.0100% / 8h	2h 53m	$4.3M	$1.1M	—
Short	Deribit ADA_USDC-PERPETUAL	0.2467	0.0237	get 0.0030% / 1h	53m 39s	$607K	$534K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now −0.128%Rate

Funding earned: $28.77
Price spread: −0.128% → +0.047%: −$17.56
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $4.21
Costs to cover: 0.070%
Break-even: 6.0 days

Slippage unknown: Variational Omni: RFQ quote, just now; Deribit: live order book, 60 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 Variational Omni RFQ quote, just now	8.11 bp	doesn't fit	12.2 bp −$122	doesn't fit	doesn't fit
Sell Deribit live order book, 60 min ago	2.19 bp	5.9 bp −$6	17.1 bp −$171	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
dYdX ADA-USD	0.0000%	1h	0.2466	−0.161%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2469	−0.043%	$136K	$7.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2465	−0.191%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0019%	1h	0.2467	−0.118%	$6.3M	$13.3M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.038%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2470	−0.023%	$2.4M	$986K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2469	−0.027%	$43.9M	$16.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2468	−0.085%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2468	−0.097%	$158K	$170K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2467	−0.124%	$103.9M	$393.2M	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	0.2466	−0.165%	$73.3M	$117.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2467	−0.124%	$33.0M	$112.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2465	−0.205%	$99.7M	$62.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2467	−0.124%	$59.0M	$62.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2467	−0.144%	$29.6M	$15.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2467	−0.124%	$67.0M	$51.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2466	−0.165%	—	$6.5M	—	as long as short
Variational Omni ADAlong	+0.0100%	8h	0.2470	long leg	$4.3M	$1.1M	—
edgeX ADAUSDC	+0.0100%	4h	0.2468	−0.089%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2471	+0.048%	$289K	$4.0M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2467	−0.116%	$93K	$634K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2466	−0.165%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2466	−0.152%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2467	−0.123%	$8K	$748K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2467	−0.140%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2470	−0.006%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2466	−0.165%	$48.1M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2468	−0.099%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2467	−0.131%	$534K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2469	−0.043%	$410K	$8.3M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0112%	1h	0.2466	−0.169%	$123K	$456K	15x	as long as short
Phoenix ADA	+0.0161%	1h	0.2469	−0.047%	$4K	$105K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2470	−0.003%	$4.5M	$5.8M	75x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0237%	1h	0.2467	−0.128%	$607K	$534K	50x
ApeX Omni ADAUSDT	+0.0245%	1h	0.2470	−0.003%	$228K	$758K	50x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2466	−0.164%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0585%	1h	0.2465	−0.207%	$140K	—	100x	as long as short