Funding you earn now, next payment 20:00 UTC+0.0184%/8hpaid last 24h −0.007%
Price spread now: Deribit against Bybit+0.189%55s7-day average +0.046% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$330.329% of the position
Funding, last 7 days−0.019%−$2 on $10k
+Price spread, last 3 days (all we have)−0.115%−$12 · spread now +0.189%, 7d avg +0.046%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.143% dearer against Bybit than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.046%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.019% in total (about -1.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ADAUSDT | 0.2432 | 0.0100 | pay 0.0100% / 8h | 4h 07m | $70.7M | $99.1M | 75x |
| Short | Deribit ADA_USDC-PERPETUAL | 0.2437 | 0.0284 | get 0.0036% / 1h | 7m 21s | $476K | $361K | 50x |
Bybit ADAUSDT
Deribit ADA_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $38.64
- Price spread: +0.189% → +0.046%
- $14.3
- Slippage, 4 orders
- −$14.86
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $20.08
- Costs to cover
- 0.329%
- Break-even
- 3.4 days
Slippage from Bybit: live order book, 1 min ago; Deribit: live order book, 25 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 Bybit live order book, 1 min ago | 2.06 bp | 10.9 bp −$11 | 13.1 bp −$131 | 33.8 bp −$3,382 | 174.5 bp −$87.2K |
| Sell Deribit live order book, 25 min ago | 3.09 bp | 7.5 bp −$8 | 15.4 bp −$154 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ADA/USDC PERP | −0.0071% | 1h | 0.2441 | +0.370% | $838 | $97K | 12x | as long as short |
| dYdX ADA-USD | 0.0000% | 1h | 0.2434 | +0.086% | $200K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2435 | +0.123% | $131K | $5.8M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2434 | +0.076% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0064% | 1h | 0.2430 | −0.082% | $454K | $7.0M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2436 | +0.148% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2435 | +0.144% | $42.4M | $13.9M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2435 | +0.106% | $1.1M | $1.0M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2434 | +0.076% | $155K | $146K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2434 | +0.087% | $101.4M | $345.6M | 75x | as long as short |
Injective ADA/USDC PERP
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDTlong | +0.0100% | 8h | 0.2432 | long leg | $70.7M | $99.1M | 75x | |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2432 | 0.000% | $32.2M | $103.0M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2432 | 0.000% | $95.8M | $56.7M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2434 | +0.082% | $52.3M | $57.1M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2434 | +0.090% | $30.3M | $17.6M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2434 | +0.082% | $64.4M | $41.9M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2434 | +0.082% | — | $6.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2435 | +0.140% | $104K | $422K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2434 | +0.102% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2436 | +0.166% | $65K | $279K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2435 | +0.138% | $294K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2435 | +0.123% | $55K | $573K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2435 | +0.115% | $93K | $730K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2434 | +0.082% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2434 | +0.093% | $39K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2438 | +0.247% | $9K | $751K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2435 | +0.107% | $335 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2436 | +0.175% | $1.3M | $4.6M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2435 | +0.123% | $47.4M | $5.3M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2435 | +0.136% | $20K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2433 | +0.034% | $586K | $1.8M | 50x | as long as short |
| Phoenix ADA | +0.0197% | 1h | 0.2437 | +0.193% | $4K | $87K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2434 | +0.082% | $4.4M | $5.1M | 75x | as long as short |
| Deribit ADA_USDC-PERPETUALshort | +0.0284% | 1h | 0.2437 | +0.189% | $476K | $361K | 50x | |
| Reya ADARUSDPERP | +0.0289% | 1h | 0.2433 | +0.057% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0426% | 1h | 0.2435 | +0.132% | $6.1M | $10.8M | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0436% / S −0.0207% | 1h | 0.2434 | +0.064% | $95K | — | 100x | as long as short |
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Phoenix ADA
BloFin ADA-USDT
Reya ADARUSDPERP
Kraken Futures PF_ADAUSD
GMX ADA/USD [WBTC.b-USDC]