Spread before costs (cost unknown: a leg has no order-book sample)−0.057%
7d average—if it closes, per $10,000$6funding while held, a day+$2.81
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International ADA-PERP-INTX | 0.2436 | 0.0072 | pay 0.0009% / 1h | 45m 17s | $473K | $6.8M | 50x |
| Short | Phoenix ADA | 0.2435 | 0.0166 | get 0.0021% / 1h | 45m 17s | $4K | $89K | 10x |
Coinbase International ADA-PERP-INTX
Phoenix ADAPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$5.75
- Funding while held
- $2.81
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$19.94
- Spread needed to break even
- 0.170%
Slippage unknown: Coinbase International: live order book, 5 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0094%
- Per $10,000 a day
- +$2.81
- Average in range /8h
- —
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, 5 min ago | 2.06 bp | 7.9 bp −$8 | 14.9 bp −$149 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
ADA price on every exchange
against the cheapest. Click to use as the short leg.Injective0.2424cheapest
InjectivePhoenix0.2435+0.437%
ApeX Omni0.2435+0.454%edgeX0.2435+0.474%Variational Omni0.2436+0.477%Bybit0.2436+0.495%
ApeX Omni
Variational Omni
BybitCoinbase International0.2436+0.495%
BloFin0.2436+0.495%OKX0.2437+0.536%Gate0.2437+0.536%Bitget0.2437+0.536%Kalshi0.2437+0.536%Phemex0.2437+0.536%dYdX0.2437+0.537%gTrade (Gains Network)0.2437+0.553%Extended0.2437+0.554%Reya0.2437+0.555%SoDEX0.2437+0.557%GMX0.2438+0.560%Pacifica0.2438+0.561%KuCoin0.2438+0.561%Polymarket Perps0.2438+0.561%MEXC0.2438+0.578%BingX0.2438+0.578%Orderly0.2438+0.578%Backpack0.2438+0.582%Kraken Futures0.2438+0.586%Binance0.2438+0.590%Aster0.2439+0.601%Derive0.2439+0.605%Paradex0.2439+0.612%SunX0.2439+0.616%Deribit0.2439+0.619%HTX0.2439+0.622%Hyperliquid0.2439+0.623%Lighter0.2439+0.627%
BloFin
OKX
Gate
Bitget
Phemex
dYdX
gTrade (Gains Network)
Extended
Reya
SoDEX
GMX
Pacifica
KuCoin
Polymarket Perps
MEXC
BingX
Orderly
Backpack
Kraken Futures
Binance
Aster
Derive
Paradex
SunX
Deribit
HTX
Hyperliquid
LighterADA on 36 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective ADA/USDC PERP | −0.493% | +0.0033% | 1h | $832 | $66K | 12x | as long as short |
| Phoenix ADAshort | −0.057% | +0.0166% | 1h | $4K | $89K | 10x | |
| ApeX Omni ADAUSDT | −0.041% | +0.0100% | 1h | $228K | $455K | 50x | as long as short |
| edgeX ADAUSDC | −0.021% | +0.0100% | 4h | $65K | $279K | 20x | as long as short |
| Variational Omni ADA | −0.018% | +0.0100% | 8h | $4.2M | $1.0M | — | as long as short |
| Bybit ADAUSDT | 0.000% | +0.0100% | 8h | $70.1M | $99.6M | 75x | as long as short |
| Coinbase International ADA-PERP-INTXlong | 0.000% | +0.0072% | 1h | $473K | $6.8M | 50x | |
| BloFin ADA-USDT | 0.000% | +0.0220% | 8h | $4.4M | $5.3M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.041% | +0.0100% | 8h | $32.1M | $103.5M | 50x | as long as short |
| Gate ADA_USDT | +0.041% | +0.0100% | 8h | $95.4M | $55.6M | 75x | as long as short |
Show all 36 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Bitget ADAUSDT | +0.041% | +0.0100% | 8h | $64.4M | $41.7M | 75x | as long as short |
| Kalshi KXADAPERP | +0.041% | 0.0000% | 8h | $127K | $5.9M | 3.2x | as long as short |
| Phemex ADAUSDT | +0.041% | +0.0100% | 8h | $47.5M | $5.1M | 50x | as long as short |
| dYdX ADA-USD | +0.042% | 0.0000% | 1h | $202K | $2K | 10x | as long as short |
| gTrade (Gains Network) ADA/USD | +0.057% | L +0.0005% / S −0.0003% | 1h | $84K | — | 150x | as long as short |
| Extended ADA-USD | +0.059% | +0.0104% | 1h | $605K | $1.7M | 50x | as long as short |
| Reya ADARUSDPERP | +0.060% | +0.0291% | 1h | $1K | — | 15x | as long as short |
| SoDEX ADA-USD | +0.062% | +0.0100% | 1h | $335 | $13K | 10x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | +0.064% | L +0.0520% / S −0.0276% | 1h | $112K | — | 100x | as long as short |
| Pacifica ADA | +0.066% | +0.0100% | 1h | $157K | $148K | 10x | as long as short |
| KuCoin ADAUSDTM | +0.066% | +0.0100% | 8h | $30.0M | $17.6M | 75x | as long as short |
| Polymarket Perps ADA-USD | +0.066% | +0.0100% | 1h | $91K | $727K | 10x | as long as short |
| MEXC ADA_USDT | +0.082% | +0.0100% | 8h | $51.9M | $57.5M | 300x | as long as short |
| BingX ADA-USDC | +0.082% | +0.0100% | 8h | — | $6.6M | — | as long as short |
| Orderly PERP_ADA_USDC | +0.082% | +0.0100% | 8h | $6K | $36K | 20x | as long as short |
| Backpack ADA_USDC_PERP | +0.086% | +0.0100% | 1h | $102K | $412K | 15x | as long as short |
| Kraken Futures PF_ADAUSD | +0.090% | +0.0261% | 1h | $6.2M | $10.7M | 50x | as long as short |
| Binance ADAUSDT | +0.094% | +0.0100% | 8h | $101.2M | $342.6M | 75x | as long as short |
| Aster ADAUSDT | +0.106% | +0.0100% | 8h | $1.1M | $1.0M | 75x | as long as short |
| Derive ADA-PERP | +0.110% | +0.0100% | 1h | $40K | $3K | 5x | as long as short |
| Paradex ADA-USD-PERP | +0.117% | +0.0100% | 8h | $20K | $250 | 20x | as long as short |
| SunX ADA-USDT | +0.121% | +0.0100% | 8h | $9K | $750K | 30x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.123% | +0.0324% | 1h | $476K | $377K | 50x | as long as short |
| HTX ADA-USDT | +0.126% | +0.0100% | 8h | $1.3M | $4.5M | 75x | as long as short |
| Hyperliquid ADA | +0.127% | +0.0100% | 1h | $42.6M | $13.8M | 10x | as long as short |
| Lighter ADA | +0.131% | +0.0096% | 1h | $2.4M | $1.2M | 10x | as long as short |