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 Bitget+0.045%79s7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.226%−$23 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 0.045% dearer against Bitget than usual: you sell high and buy low: +$4 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 −0.226%, so the current rate has only just turned in your favour. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ADAUSDT	0.2467	0.0100	pay 0.0100% / 8h	3h 10m	$67.2M	$51.4M	75x
Short	Phoenix ADA	0.2468	0.0161	get 0.0020% / 1h	10m 09s	$4K	$95K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.045%Rate

Funding earned: $12.84
Price spread: +0.045% → 0.000%: $4.46
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$1.7
Costs to cover: 0.190%
Break-even: 7.9 days

Slippage unknown: Bitget: live order book, 4 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 Bitget live order book, 4 min ago	2.03 bp	8.7 bp −$9	14.7 bp −$147	42.1 bp −$4,214	doesn't fit
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	0.2468	+0.025%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2467	0.000%	$137K	$6.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2466	−0.025%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2467	−0.001%	$6.3M	$13.1M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.162%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2467	0.000%	$396K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2469	+0.077%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2468	+0.028%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2468	+0.030%	$158K	$170K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2467	+0.001%	$104.4M	$390.5M	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	0.2465	−0.081%	$74.1M	$115.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2467	0.000%	$33.0M	$111.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2465	−0.081%	$100.2M	$62.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2466	−0.041%	$59.3M	$62.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2467	−0.008%	$29.7M	$15.3M	75x	as long as short
Bitget ADAUSDTlong	+0.0100%	8h	0.2467	long leg	$67.2M	$51.4M	75x
BingX ADA-USDT	+0.0100%	8h	0.2467	0.000%	—	$19.9M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2466	−0.039%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2471	+0.179%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2472	+0.203%	$290K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2472	+0.203%	$228K	$756K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2467	−0.004%	$92K	$629K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2467	0.000%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2467	+0.002%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2468	+0.038%	$8K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2467	0.000%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2467	+0.001%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2467	0.000%	$48.1M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2468	+0.043%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2466	−0.027%	$534K	$1.8M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0138%	1h	0.2467	+0.004%	$124K	$470K	15x	as long as short
Phoenix ADAshort	+0.0161%	1h	0.2468	+0.045%	$4K	$95K	10x
BloFin ADA-USDT	+0.0220%	8h	0.2472	+0.203%	$4.6M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2465	−0.063%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0281%	1h	0.2468	+0.041%	$43.9M	$16.3M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0318%	1h	0.2468	+0.028%	$607K	$533K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0585%	1h	0.2466	−0.047%	$140K	—	100x	as long as short