Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Binance−0.130%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)+0.189%+$19 · spread now −0.130%, 7d avg −0.006%

Together, before fees+0.211%+$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.124% cheaper against Binance than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ADAUSDT	0.2457	0.0100	pay 0.0100% / 8h	5h 59m	$103.2M	$367.5M	75x
Short	Phemex ADAUSDT	0.2454	0.0100	get 0.0100% / 8h	5h 59m	$47.7M	$6.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. 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 BinancebpFee PhemexbpOrdersPrice spread, now −0.130%Rate

Funding earned: $0
Price spread: −0.130% → −0.006%: −$12.36
Slippage, 4 orders: −$12.01
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$46.37
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Phemex: live order book, 4 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 Binance live order book, 14 min ago	2.04 bp	7.0 bp −$7	11.4 bp −$114	27.7 bp −$2,771	91.5 bp −$45.7K
Sell Phemex live order book, 4 min ago	2.03 bp	8.0 bp −$8	13.2 bp −$132	37.2 bp −$3,723	doesn't fit

ADA on 36 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	0.2456	−0.038%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.154%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.562%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2455	−0.089%	$410K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2459	+0.065%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	−0.089%	$1.2M	$983K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2457	−0.020%	$158K	$158K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2457	long leg	$103.2M	$367.5M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2457	−0.008%	$72.4M	$107.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	−0.008%	$32.7M	$106.0M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2455	−0.089%	$98.5M	$58.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	−0.049%	$63.5M	$53.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2457	+0.004%	$29.9M	$17.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2457	−0.008%	$65.8M	$47.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2457	−0.008%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2454	−0.150%	$131K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	−0.046%	$4.2M	$991K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2462	+0.196%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2461	+0.172%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2463	+0.236%	$56K	$590K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2456	−0.061%	$94K	$671K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	−0.130%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.102%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2457	−0.011%	$9K	$749K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	−0.110%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	−0.149%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2454	−0.130%	$47.7M	$6.3M	50x
Extended ADA-USD	+0.0104%	1h	0.2455	−0.072%	$534K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0106%	8h	0.2455	−0.089%	$139K	$6.2M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2458	+0.022%	$21K	$250	20x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0158%	1h	0.2454	−0.114%	$502K	$470K	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2461	+0.171%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0200%	1h	0.2459	+0.061%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2453	−0.151%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2453	−0.168%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2453	−0.169%	$95K	—	100x	as long as short