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Price arb /

ADA

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Spread before costs (cost unknown: a leg has no order-book sample)−6.445%
7d average—if it closes, per $10,000$644funding while held, a day−$2.00
Long on BackpackShort on Injective
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack ADA_USDC_PERP0.24390.0100pay 0.0013% / 1h59m 12s$102K$415K15x
ShortInjective ADA/USDC PERP0.22820.0033get 0.0004% / 1h59m 12s$784$95K12x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$644.47
Funding while held
−$2
Slippage, 4 orders
no order book: not counted
Fee Backpack: 5 bp × 2 orders
−$10
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
−$656.49
Spread needed to break even
0.100%
Slippage unknown: Backpack: live order book, 61 min ago; Injective: no order-book sample. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0067%
Per $10,000 a day
−$2.00
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 61 min ago0.61 bp5.6 bp −$68.1 bp −$81doesn't fitdoesn't fit
Sell Injective no order-book sample—————
Injective: 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 price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.2282cheapest
Gate0.2437+6.792%Reya0.2438+6.826%dYdX0.2438+6.843%GMX0.2439+6.863%Paradex0.2439+6.870%SoDEX0.2439+6.871%Bybit0.2439+6.880%MEXC0.2439+6.880%BingX0.2439+6.880%Kalshi0.2439+6.880%gTrade (Gains Network)0.2439+6.883%
Backpack0.2439+6.889%
Polymarket Perps0.2439+6.889%Aster0.2439+6.894%Pacifica0.2439+6.899%Extended0.2440+6.905%HTX0.2440+6.909%KuCoin0.2440+6.915%OKX0.2440+6.924%Bitget0.2440+6.924%Orderly0.2440+6.924%Coinbase International0.2440+6.924%Phemex0.2440+6.924%Hyperliquid0.2441+6.950%Derive0.2441+6.957%SunX0.2441+6.963%Binance0.2441+6.968%BloFin0.2441+6.968%Kraken Futures0.2441+6.973%Deribit0.2441+6.985%Lighter0.2442+7.007%Phoenix0.2445+7.143%edgeX0.2446+7.192%Variational Omni0.2447+7.223%ApeX Omni0.2453+7.493%

ADA on 36 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective ADA/USDC PERPshort−6.445%+0.0033%1h$784$95K12x
Gate ADA_USDT−0.090%+0.0100%8h$93.9M$54.5M75xas long as short
Reya ADARUSDPERP−0.059%+0.0297%1h$1K—15xas long as short
dYdX ADA-USD−0.043%+0.0014%1h$202K$2K10xas long as short
GMX ADA/USD [WBTC.b-USDC]−0.024%L +0.0544% / S −0.0369%1h$107K—100xas long as short
Paradex ADA-USD-PERP−0.017%+0.0100%8h$20K$25020xas long as short
SoDEX ADA-USD−0.016%+0.0100%1h$335$13K10xas long as short
Bybit ADAUSDT−0.008%+0.0100%8h$70.4M$106.8M75xas long as short
MEXC ADA_USDT−0.008%+0.0100%8h$52.7M$60.0M300xas long as short
BingX ADA-USDC−0.008%+0.0100%8h—$6.5M—as long as short
Show all 36 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Kalshi KXADAPERP−0.008%0.0000%8h$130K$5.4M3.2xas long as short
gTrade (Gains Network) ADA/USD−0.005%L +0.0005% / S −0.0003%1h$84K—150xas long as short
Backpack ADA_USDC_PERPlong0.000%+0.0100%1h$102K$415K15x
Polymarket Perps ADA-USD0.000%+0.0100%1h$94K$718K10xas long as short
Aster ADAUSDT+0.005%+0.0100%8h$1.1M$1.3M75xas long as short
Pacifica ADA+0.010%+0.0100%1h$160K$168K10xas long as short
Extended ADA-USD+0.015%+0.0104%1h$638K$1.5M50xas long as short
HTX ADA-USDT+0.019%+0.0100%8h$1.3M$4.5M75xas long as short
KuCoin ADAUSDTM+0.025%+0.0100%8h$30.5M$20.5M75xas long as short
OKX ADA-USDT-SWAP+0.033%+0.0100%8h$32.3M$102.4M50xas long as short
Bitget ADAUSDT+0.033%+0.0100%8h$63.2M$44.7M75xas long as short
Orderly PERP_ADA_USDC+0.033%+0.0100%8h$6K$38K20xas long as short
Coinbase International ADA-PERP-INTX+0.033%+0.0136%1h$452K$6.3M50xas long as short
Phemex ADAUSDT+0.033%+0.0100%8h$47.8M$5.7M50xas long as short
Hyperliquid ADA+0.057%+0.0188%1h$41.7M$16.2M10xas long as short
Derive ADA-PERP+0.064%+0.0100%1h$40K$3K5xas long as short
SunX ADA-USDT+0.070%+0.0100%8h$9K$754K30xas long as short
Binance ADAUSDT+0.074%+0.0100%8h$102.4M$340.0M75xas long as short
BloFin ADA-USDT+0.074%+0.0220%8h$4.5M$6.0M75xas long as short
Kraken Futures PF_ADAUSD+0.079%−0.0069%1h$6.0M$11.1M50xas long as short
Deribit ADA_USDC-PERPETUAL+0.090%+0.0078%1h$456K$356K50xas long as short
Lighter ADA+0.111%+0.0096%1h$2.3M$1.0M10xas long as short
Phoenix ADA+0.238%+0.0065%1h$4K$94K10xas long as short
edgeX ADAUSDC+0.284%+0.0100%4h$65K$353K20xas long as short
Variational Omni ADA+0.313%+0.0100%8h$4.2M$979K—as long as short
ApeX Omni ADAUSDT+0.566%+0.0100%1h$92K$317K50xas long as short