Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.009%

Price spread now: Bitget against Coinbase International−0.121%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 3 days (all we have)+0.111%+$11 · spread now −0.121%, 7d avg +0.012%

Together, before fees+0.232%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.133% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.121% now, against its 7-day average of +0.012%). If the spread goes back, that is −$13 on $10k: about 7.4 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2479	0.0040	pay 0.0005% / 1h	11m 14s	$426K	$7.4M	50x
Short	Bitget ADAUSDT	0.2476	0.0100	get 0.0100% / 8h	7h 11m	$66.9M	$44.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now −0.121%Rate

Funding earned: $12.6
Price spread: −0.121% → +0.012%: −$13.34
Slippage, 4 orders: −$21.17
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$43.91
Costs to cover: 0.432%
Break-even: 31.4 days

Slippage from Coinbase International: live order book, 3 min ago; Bitget: 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 Coinbase International live order book, 3 min ago	6.04 bp	11.0 bp −$11	17.4 bp −$174	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.01 bp	12.0 bp −$12	15.5 bp −$155	33.0 bp −$3,300	92.6 bp −$46.3K

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	0.2478	−0.028%	$204K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2479	0.000%	$196K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2477	−0.061%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.323%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0040%	1h	0.2479	long leg	$426K	$7.4M	50x
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2476	−0.120%	$6.3M	$11.8M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2484	+0.194%	$4K	$84K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2478	−0.022%	$1.2M	$956K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2479	+0.008%	$159K	$150K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2477	−0.098%	$103.3M	$367.7M	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	0.2476	−0.121%	$72.6M	$105.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2477	−0.081%	$32.8M	$107.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2478	−0.040%	$99.0M	$59.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2476	−0.121%	$54.3M	$52.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2476	−0.125%	$30.4M	$17.9M	75x	as long as short
Bitget ADAUSDTshort	+0.0100%	8h	0.2476	−0.121%	$66.9M	$44.9M	75x
BingX ADA-USDC	+0.0100%	8h	0.2476	−0.121%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2477	−0.093%	$137K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2477	−0.077%	$4.3M	$967K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2480	+0.060%	$66K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2483	+0.160%	$294K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2485	+0.242%	$56K	$585K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2478	−0.024%	$94K	$650K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2476	−0.121%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2476	−0.109%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2480	+0.040%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2476	−0.117%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2476	−0.127%	$1.3M	$5.6M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2477	−0.081%	$48.4M	$5.7M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2476	−0.123%	$540K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2481	+0.078%	$21K	$250	20x	as long as short
Lighter ADA	+0.0176%	1h	0.2478	−0.048%	$2.5M	$1.1M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2480	+0.040%	$4.4M	$5.7M	75x	as long as short
Hyperliquid ADA	+0.0242%	1h	0.2481	+0.065%	$43.3M	$14.3M	10x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2479	+0.001%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0477%	1h	0.2477	−0.089%	$499K	$451K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0629% / S −0.0393%	1h	0.2476	−0.107%	$143K	—	100x	as long as short