Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Backpack+0.020%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Backpack Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.172%+$17 on $10k

Price spread, last 3 days (all we have)+0.178%+$18 · spread now +0.020%, 7d avg +0.023%

Together, before fees+0.350%+$35 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ADA_USDC_PERP	0.2454	0.0100	pay 0.0013% / 1h	24m 47s	$101K	$411K	15x
Short	ApeX Omni ADAUSDT	0.2454	0.0100	get 0.0013% / 1h	24m 47s	$55K	$579K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Backpack. 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 BackpackbpFee ApeX OmnibpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → +0.023%: −$0.26
Slippage, 4 orders: −$24.26
Fee Backpack: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$44.52
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Backpack: live order book, 64 min ago; ApeX Omni: live order book, 63 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 Backpack live order book, 64 min ago	1.62 bp	6.6 bp −$7	7.9 bp −$79	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 63 min ago	10.13 bp	15.5 bp −$16	46.5 bp −$465	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	0.2453	−0.025%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2453	−0.020%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.031%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2451	−0.102%	$410K	$7.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0076%	1h	0.2454	+0.012%	$476K	$353K	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2455	+0.041%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2454	+0.004%	$42.5M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	−0.020%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	−0.007%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2454	+0.020%	$101.4M	$355.9M	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	0.2453	−0.020%	$70.6M	$99.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	−0.020%	$31.9M	$105.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2451	−0.102%	$96.9M	$57.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	−0.020%	$52.6M	$56.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2453	−0.016%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2453	−0.020%	$65.7M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2452	−0.061%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERPlong	+0.0100%	1h	0.2454	long leg	$101K	$411K	15x
Variational Omni ADA	+0.0100%	8h	0.2456	+0.119%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.016%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.021%	$289K	$3.9M	10x	as long as short
ApeX Omni ADAUSDTshort	+0.0100%	1h	0.2454	+0.020%	$55K	$579K	50x
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	−0.029%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	−0.020%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	−0.021%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.021%	$9K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2453	−0.016%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2453	−0.001%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2453	−0.020%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2454	+0.026%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2452	−0.049%	$558K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2455	+0.069%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	−0.020%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2453	−0.007%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2453	−0.004%	$6.1M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2452	−0.052%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.550%	$838	$131K	12x	as long as short