Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0187%/8h= −20.4% APRpaid last 24h −0.036%

Price spread now: Injective against BloFin+1.146%7-day average −0.338% · you sell dearer than you buy

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.267%−$27 on $10k

Price spread, last 4 days (all we have)−2.572%−$257 · spread now +1.146%, 7d avg −0.338%

Together, before fees−2.839%−$284 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.484% dearer against BloFin than usual: you sell high and buy low (spread +1.146% now, against its 7-day average of −0.338%): +$148 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 27 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ADA-USDT	0.2443	0.0220	pay 0.0220% / 8h	21m 58s	$4.5M	$5.8M	75x
Short	Injective ADA/USDC PERP	0.2471	0.0033	get 0.0004% / 1h	21m 58s	$849	$202K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee InjectivebpOrdersPrice spread, now +1.146%Rate

Funding earned: −$39.2
Price spread: +1.146% → −0.338%: $148.44
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $97.22
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 2 min ago; Injective: 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 BloFin live order book, 2 min ago	4.10 bp	14.2 bp −$14	17.6 bp −$176	27.3 bp −$2,733	69.8 bp −$34.9K
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 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	0.2442	−0.040%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2440	−0.118%	$83K	—	150x	as long as short
Injective ADA/USDC PERPshort	+0.0033%	1h	0.2471	+1.146%	$849	$202K	12x
Lighter ADA	+0.0096%	1h	0.2442	−0.057%	$2.4M	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2440	−0.123%	$6K	$5K	20x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2441	−0.090%	$42.9M	$18.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2440	−0.112%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2443	−0.004%	$156K	$180K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2440	−0.125%	$102.9M	$407.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2440	−0.123%	$72.6M	$126.2M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2439	−0.164%	$32.4M	$118.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2439	−0.164%	$99.6M	$65.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2440	−0.123%	$51.8M	$65.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2441	−0.086%	$29.5M	$16.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2439	−0.164%	$66.3M	$53.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2441	−0.082%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2440	−0.135%	$138K	$485K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2436	−0.285%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2438	−0.202%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2438	−0.216%	$294K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2438	−0.205%	$77K	$894K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2442	−0.061%	$122K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2441	−0.098%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2444	+0.020%	$8K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2440	−0.102%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2440	−0.125%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2439	−0.164%	$47.2M	$7.6M	50x	as long as short
Kalshi KXADAPERP	+0.0102%	8h	0.2442	−0.041%	$233K	$7.7M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2439	−0.170%	$512K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2443	+0.020%	$20K	$250	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2436	−0.287%	$378K	$8.3M	50x	as long as short
BloFin ADA-USDTlong	+0.0220%	8h	0.2443	long leg	$4.5M	$5.8M	75x
Phoenix ADA	+0.0228%	1h	0.2439	−0.176%	$2K	$112K	10x	as long as short
Reya ADARUSDPERP	+0.0273%	1h	0.2441	−0.081%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0281%	1h	0.2440	−0.125%	$6.3M	$14.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0369% / S −0.0295%	1h	0.2439	−0.146%	$87K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0488%	1h	0.2442	−0.053%	$622K	$614K	50x	as long as short