Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.004%

Price spread now: Coinbase International against Bitget+0.041%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$440.438% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.041%, 7d avg −0.018%

Together, before fees−0.153%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.058% dearer against Bitget than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.018%. Mind the row above: over the last 7 days funding on this pair cost −0.113%, 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	Bitget ADAUSDT	0.2453	0.0100	pay 0.0100% / 8h	40m 49s	$66.7M	$53.8M	75x
Short	Coinbase International ADA-PERP-INTX	0.2454	0.0144	get 0.0018% / 1h	40m 49s	$370K	$8.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now +0.041%Rate

Funding earned: $9.24
Price spread: +0.041% → −0.018%: $5.84
Slippage, 4 orders: −$21.78
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$28.69
Costs to cover: 0.438%
Break-even: 28.7 days

Slippage from Bitget: live order book, 3 min ago; Coinbase International: live order book, 3 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 Bitget live order book, 3 min ago	2.04 bp	12.0 bp −$12	17.1 bp −$171	32.5 bp −$3,254	107.2 bp −$53.6K
Sell Coinbase International live order book, 3 min ago	6.11 bp	12.5 bp −$12	18.2 bp −$182	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	0.2455	+0.092%	$202K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	+0.097%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.734%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.122%	$6K	$5K	20x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2458	+0.204%	$43.2M	$18.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.088%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2456	+0.103%	$157K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	+0.088%	$103.4M	$407.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2453	0.000%	$73.1M	$125.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	0.000%	$32.6M	$118.4M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2454	+0.041%	$100.7M	$64.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	+0.041%	$52.4M	$65.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2456	+0.122%	$29.6M	$16.0M	75x	as long as short
Bitget ADAUSDTlong	+0.0100%	8h	0.2453	long leg	$66.7M	$53.8M	75x
BingX ADA-USDT	+0.0100%	8h	0.2455	+0.082%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2457	+0.143%	$140K	$486K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	+0.082%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.131%	$66K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2455	+0.078%	$299K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.163%	$78K	$894K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.094%	$125K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	+0.126%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	+0.121%	$8K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2456	+0.126%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2457	+0.177%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2455	+0.082%	$47.5M	$7.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	+0.055%	$516K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2456	+0.109%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0105%	8h	0.2457	+0.163%	$179K	$7.6M	3.2x	as long as short
Lighter ADA	+0.0128%	1h	0.2458	+0.192%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0144%	1h	0.2454	+0.041%	$370K	$8.4M	50x
BloFin ADA-USDT	+0.0220%	8h	0.2456	+0.122%	$4.5M	$5.9M	75x	as long as short
Phoenix ADA	+0.0228%	1h	0.2459	+0.232%	$4K	$112K	10x	as long as short
Reya ADARUSDPERP	+0.0273%	1h	0.2455	+0.101%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0279%	1h	0.2456	+0.112%	$6.3M	$14.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0603% / S −0.0679%	1h	0.2455	+0.084%	$156K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.9606%	1h	0.2480	+1.080%	$631K	$614K	50x	as long as short