Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.011%

Price spread now: OKX against Coinbase International0.000%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 3 days (all we have)−0.060%−$6 · spread now 0.000%, 7d avg +0.029%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.029% cheaper against Coinbase International than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.029%). If the spread goes back, that is −$3 on $10k: about 2.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2460	0.0064	pay 0.0008% / 1h	15m 54s	$410K	$7.3M	50x
Short	OKX ADA-USDT-SWAP	0.2460	0.0100	get 0.0100% / 8h	1h 15m	$31.9M	$106.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $7.56
Price spread: 0.000% → +0.029%: −$2.93
Slippage, 4 orders: −$14.69
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$30.05
Costs to cover: 0.347%
Break-even: 34.8 days

Slippage from Coinbase International: live order book, 3 min ago; OKX: 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	4.07 bp	9.3 bp −$9	15.8 bp −$158	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.03 bp	7.0 bp −$7	12.5 bp −$125	47.1 bp −$4,713	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	0.2458	−0.095%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2460	0.000%	$154K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2461	+0.022%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0064%	1h	0.2460	long leg	$410K	$7.3M	50x
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2460	−0.019%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2461	+0.041%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2460	−0.008%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2461	+0.030%	$1.2M	$921K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2459	−0.024%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2460	0.000%	$102.1M	$360.5M	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	0.2459	−0.041%	$71.5M	$102.2M	75x	as long as short
OKX ADA-USDT-SWAPshort	+0.0100%	8h	0.2460	0.000%	$31.9M	$106.0M	50x
Gate ADA_USDT	+0.0100%	8h	0.2459	−0.041%	$97.2M	$59.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2460	0.000%	$53.6M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2460	+0.012%	$30.2M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2460	0.000%	$65.9M	$43.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2460	0.000%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2460	+0.004%	$102K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	−0.277%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	−0.176%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2456	−0.182%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	−0.203%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2461	+0.028%	$96K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	+0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2462	+0.076%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2462	+0.084%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2460	+0.012%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2461	+0.033%	$1.3M	$5.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2460	0.000%	$48.0M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2460	−0.004%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2459	−0.061%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2459	−0.061%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2460	0.000%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2461	+0.024%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.447%	$849	$202K	12x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0360%	1h	0.2462	+0.093%	$481K	$351K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0567% / S −0.0313%	1h	0.2461	+0.031%	$122K	—	100x	as long as short