Funding you earn now, next payment 21:00 UTC+0.0281%/8h= +30.8% APRnext payment +$0.35 per $10,000 · paid last 24h +0.015%
Price spread now: Kraken Futures against Coinbase International−0.233%7-day average +0.032% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$71as in the Price arb table
costs, in and out, $10k−$450.449% of the position
Funding, last 7 days+0.092%+$9 on $10k
+Price spread, last 3 days (all we have)+0.347%+$35 · spread now −0.233%, 7d avg +0.032%
=Funding pays, the price is against you. Kraken Futures is 0.264% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.233% now, against its 7-day average of +0.032%). If the spread goes back, that is −$26 on $10k: about 3.1 days of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.092% in total) that is about 20 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.092% in total (about 4.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.35 per $10,000. 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 | Coinbase International ADA-PERP-INTX | 0.2454 | 0.0056 | pay 0.0007% / 1h | 59m 48s | $407K | $7.2M | 50x |
| Short | Kraken Futures PF_ADAUSD | 0.2448 | 0.0337 | get 0.0042% / 1h | 59m 48s | $6.2M | $11.4M | 50x |
Coinbase International ADA-PERP-INTX
Kraken Futures PF_ADAUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $59.03
- Price spread: −0.233% → +0.032%
- −$26.45
- Slippage, 4 orders
- −$24.93
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$12.35
- Costs to cover
- 0.449%
- Break-even
- 8.5 days
Slippage from Coinbase International: live order book, 4 min ago; Kraken Futures: live order book, 4 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, 4 min ago | 4.08 bp | 11.0 bp −$11 | 19.1 bp −$191 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 2.04 bp | 13.0 bp −$13 | 18.7 bp −$187 | 81.4 bp −$8,144 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ADA-USD | 0.0000% | 1h | 0.2448 | −0.237% | $201K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2449 | −0.204% | $153K | $5.9M | 3.2x | as long as short |
| Deribit ADA_USDC-PERPETUAL | 0.0000% | 1h | 0.2450 | −0.167% | $476K | $353K | 50x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2449 | −0.215% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTXlong | +0.0056% | 1h | 0.2454 | long leg | $407K | $7.2M | 50x | |
| Lighter ADA | +0.0096% | 1h | 0.2449 | −0.224% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2448 | −0.260% | $42.4M | $14.6M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2448 | −0.244% | $1.2M | $1.0M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2448 | −0.227% | $157K | $147K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2447 | −0.276% | $101.4M | $355.9M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
Deribit ADA_USDC-PERPETUAL
gTrade (Gains Network) ADA/USD
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 ADAUSDT | +0.0100% | 8h | 0.2446 | −0.326% | $70.3M | $99.9M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2447 | −0.285% | $31.8M | $105.1M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2445 | −0.367% | $96.4M | $58.3M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2447 | −0.285% | $52.6M | $56.8M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2448 | −0.240% | $30.2M | $18.2M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2446 | −0.326% | $65.5M | $42.8M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2447 | −0.285% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2449 | −0.208% | $101K | $413K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2449 | −0.188% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2450 | −0.176% | $65K | $280K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2445 | −0.383% | $295K | $3.9M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2444 | −0.407% | $55K | $579K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2449 | −0.216% | $96K | $624K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2449 | −0.204% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2449 | −0.193% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2449 | −0.205% | $9K | $758K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2449 | −0.220% | $337 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2448 | −0.247% | $1.3M | $5.1M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2449 | −0.204% | $47.8M | $5.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2449 | −0.198% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2447 | −0.297% | $556K | $1.8M | 50x | as long as short |
| Phoenix ADA | +0.0195% | 1h | 0.2452 | −0.090% | $4K | $82K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2449 | −0.204% | $4.4M | $5.4M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0286% | 1h | 0.2449 | −0.212% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSDshort | +0.0337% | 1h | 0.2448 | −0.233% | $6.2M | $11.4M | 50x | |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0504% / S −0.0263% | 1h | 0.2448 | −0.229% | $109K | — | 100x | as long as short |
| Injective ADA/USDC PERP | +0.0533% | 1h | 0.2445 | −0.367% | $840 | $168K | 12x | as long as short |
Bybit ADAUSDT
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
GMX ADA/USD [WBTC.b-USDC]
Injective ADA/USDC PERP