Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h +0.001%

Price spread now: Phoenix against Binance+0.378%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.196%−$20 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.378% dearer against Binance than usual: you sell high and buy low: +$38 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.196%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ADAUSDT	0.2465	0.0100	pay 0.0100% / 8h	3h 02m	$103.8M	$391.7M	75x
Short	Phoenix ADA	0.2475	0.0161	get 0.0020% / 1h	2m 34s	$4K	$95K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.378%Rate

Funding earned: $12.84
Price spread: +0.378% → 0.000%: $37.76
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $33.6
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Binance: live order book, 11 min ago; Phoenix: no order-book sample. 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 Binance live order book, 11 min ago	2.02 bp	7.0 bp −$7	10.7 bp −$107	27.7 bp −$2,766	93.1 bp −$46.6K
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	0.2466	+0.003%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2471	+0.223%	$136K	$6.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2468	+0.119%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2469	+0.125%	$6.3M	$13.2M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.223%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2467	+0.061%	$404K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2467	+0.081%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2466	+0.036%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2466	+0.013%	$158K	$170K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2465	long leg	$103.8M	$391.7M	75x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2464	−0.060%	$73.9M	$116.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2465	−0.020%	$33.0M	$111.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2464	−0.060%	$99.8M	$63.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2464	−0.060%	$59.1M	$62.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2465	−0.012%	$29.6M	$15.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2464	−0.060%	$66.9M	$51.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2465	−0.020%	—	$19.9M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2474	+0.348%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2474	+0.348%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2473	+0.313%	$290K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2469	+0.142%	$228K	$757K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2470	+0.187%	$93K	$632K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2469	+0.142%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2469	+0.152%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	+0.181%	$8K	$748K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2469	+0.122%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2468	+0.104%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2468	+0.102%	$48.1M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2466	+0.032%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2463	−0.086%	$536K	$1.8M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0127%	1h	0.2468	+0.098%	$123K	$471K	15x	as long as short
Phoenix ADAshort	+0.0161%	1h	0.2475	+0.378%	$4K	$95K	10x
BloFin ADA-USDT	+0.0220%	8h	0.2476	+0.426%	$4.5M	$5.8M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0236%	1h	0.2469	+0.155%	$607K	$533K	50x	as long as short
Hyperliquid ADA	+0.0236%	1h	0.2467	+0.081%	$43.9M	$16.3M	10x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2470	+0.163%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0585%	1h	0.2468	+0.102%	$140K	—	100x	as long as short