Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.042%

Price spread now: BloFin against Coinbase International−0.164%7-day average +0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.340%+$34 on $10k

Price spread, last 4 days (all we have)+0.264%+$26 · spread now −0.164%, 7d avg +0.062%

Together, before fees+0.604%+$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.226% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.164% now, against its 7-day average of +0.062%). If the spread goes back, that is −$23 on $10k: about 7.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2444	0.0120	pay 0.0015% / 1h	56m 31s	$377K	$8.6M	50x
Short	BloFin ADA-USDT	0.2440	0.0220	get 0.0220% / 8h	1h 56m	$4.4M	$5.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.164%Rate

Funding earned: $21
Price spread: −0.164% → +0.062%: −$22.6
Slippage, 4 orders: −$25.98
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$49.58
Costs to cover: 0.480%
Break-even: 23.5 days

Slippage from Coinbase International: live order book, 3 min ago; BloFin: live order book, 2 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	4.08 bp	14.7 bp −$15	19.9 bp −$199	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	6.12 bp	12.1 bp −$12	12.1 bp −$121	24.1 bp −$2,413	55.8 bp −$27.9K

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
Kalshi KXADAPERP	0.0000%	8h	0.2442	−0.082%	$186K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2441	−0.112%	$83K	—	150x	as long as short
Phoenix ADA	+0.0032%	1h	0.2450	+0.241%	$4K	$104K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.105%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2440	−0.164%	$6K	$6K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2437	−0.274%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2436	−0.311%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2437	−0.277%	$102.6M	$410.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2436	−0.327%	$71.9M	$124.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2437	−0.286%	$32.4M	$117.9M	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	0.2435	−0.368%	$99.5M	$63.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2435	−0.368%	$51.9M	$64.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2436	−0.311%	$29.2M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2436	−0.327%	$66.2M	$53.5M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2438	−0.245%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2440	−0.151%	$137K	$484K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	+0.166%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2445	+0.048%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	+0.165%	$288K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2450	+0.245%	$82K	$889K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2435	−0.360%	$128K	$1.1M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2441	−0.116%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2442	−0.086%	$8K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2440	−0.143%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2441	−0.134%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2440	−0.164%	$47.3M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2437	−0.271%	$521K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2439	−0.200%	$20K	$250	20x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0120%	1h	0.2444	long leg	$377K	$8.6M	50x
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2440	−0.172%	$6.3M	$13.8M	50x	as long as short
Lighter ADA	+0.0184%	1h	0.2439	−0.205%	$2.4M	$1.0M	10x	as long as short
BloFin ADA-USDTshort	+0.0220%	8h	0.2440	−0.164%	$4.4M	$5.8M	75x
Hyperliquid ADA	+0.0259%	1h	0.2438	−0.250%	$42.8M	$18.3M	10x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2436	−0.327%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0365%	1h	0.2441	−0.106%	$621K	$613K	50x	as long as short
dYdX ADA-USD	+0.0575%	1h	0.2436	−0.337%	$200K	$2K	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2441	−0.119%	$164K	—	100x	as long as short