Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.009%

Price spread now: edgeX against Coinbase International−0.089%77s7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as 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−$400.399% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.177%+$18 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now −0.089%, 7d avg +0.013%

Together, before fees+0.224%+ Points / potential airdropedgeX: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.102% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of +0.013%). If the spread goes back, that is −$10 on $10k: about 6.6 days of funding at the current rate (+$2 a day). The two prices were read 77 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	Coinbase International ADA-PERP-INTX	0.2457	0.0048	pay 0.0006% / 1h	1m 56s	$410K	$7.4M	50x
Short	edgeX ADAUSDC	0.2455	0.0100	get 0.0050% / 4h	2h 01m	$65K	$283K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.089%Rate

Funding earned: $10.92
Price spread: −0.089% → +0.013%: −$10.22
Slippage, 4 orders: −$20.9
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$39.2
Costs to cover: 0.399%
Break-even: 32.1 days

Slippage from Coinbase International: live order book, 2 min ago; edgeX: live order book, 1 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, 2 min ago	2.03 bp	9.3 bp −$9	16.5 bp −$165	53.5 bp −$5,354	doesn't fit
Sell edgeX live order book, 1 min ago	6.10 bp	10.6 bp −$11	26.8 bp −$268	doesn't fit	doesn't fit

ADA on 36 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	0.2455	−0.099%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2458	+0.058%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.570%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0048%	1h	0.2457	long leg	$410K	$7.4M	50x
Hyperliquid ADA	+0.0100%	1h	0.2459	+0.085%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2458	+0.041%	$1.2M	$983K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2457	−0.008%	$158K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2458	+0.041%	$103.2M	$368.0M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2458	+0.041%	$72.4M	$107.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2458	+0.041%	$32.7M	$106.3M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2457	0.000%	$98.6M	$60.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2457	0.000%	$56.4M	$54.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	+0.024%	$29.9M	$17.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2457	0.000%	$65.8M	$47.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2458	+0.041%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2459	+0.073%	$132K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2459	+0.084%	$4.2M	$992K	—	as long as short
edgeX ADAUSDCshort	+0.0100%	4h	0.2455	−0.089%	$65K	$283K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.037%	$287K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	−0.081%	$56K	$590K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2458	+0.033%	$94K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2459	+0.081%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2459	+0.074%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	+0.078%	$9K	$750K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2459	+0.061%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2458	+0.029%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	+0.041%	$47.8M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2457	−0.003%	$534K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0106%	8h	0.2457	0.000%	$139K	$6.2M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2458	+0.032%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2461	+0.179%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0200%	1h	0.2460	+0.118%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2458	+0.041%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0320%	1h	0.2459	+0.077%	$503K	$470K	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0353%	1h	0.2457	+0.008%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2458	+0.035%	$95K	—	100x	as long as short