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: SunX against Coinbase International+0.164%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$760.760% of the position

Long on Coinbase International Short on SunX

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)−0.100%−$10 · spread now +0.164%, 7d avg +0.057%

Together, before fees+0.078%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SunX is 0.107% dearer against Coinbase International than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2455	0.0048	pay 0.0006% / 1h	46m 34s	$411K	$7.4M	50x
Short	SunX ADA-USDT	0.2459	0.0100	get 0.0100% / 8h	6h 46m	$9K	$773K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.164%Rate

Funding earned: $10.92
Price spread: +0.164% → +0.057%: $10.72
Slippage, 4 orders: −$58
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$54.35
Costs to cover: 0.760%
Break-even: 41.8 days

Slippage from Coinbase International: live order book, 2 min ago; SunX: live order book, 65 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	4.07 bp	10.5 bp −$11	19.0 bp −$190	63.4 bp −$6,339	doesn't fit
Sell SunX live order book, 65 min ago	20.80 bp	28.0 bp −$28	doesn't fit	doesn't fit	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	0.2454	−0.057%	$202K	$4K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2457	+0.097%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.652%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0048%	1h	0.2455	long leg	$411K	$7.4M	50x
Lighter ADA	+0.0096%	1h	0.2456	+0.024%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2455	−0.016%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2458	+0.124%	$1.2M	$969K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.008%	$159K	$158K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	−0.006%	$102.3M	$375.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	−0.041%	$72.3M	$108.2M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2454	−0.041%	$32.5M	$108.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	−0.041%	$98.4M	$58.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	−0.041%	$50.3M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	−0.020%	$30.0M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	−0.041%	$65.6M	$46.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2455	0.000%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2457	+0.077%	$126K	$422K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.199%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2457	+0.074%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	+0.090%	$296K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2458	+0.122%	$56K	$588K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	−0.081%	$93K	$656K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.041%	$6K	$28K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2457	+0.070%	$40K	$3K	5x	as long as short
SunX ADA-USDTshort	+0.0100%	8h	0.2459	+0.164%	$9K	$773K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2456	+0.024%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2455	−0.013%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2456	+0.041%	$47.8M	$6.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	−0.066%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2457	+0.090%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0105%	8h	0.2461	+0.244%	$195K	$6.2M	3.2x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	+0.102%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2459	+0.163%	$4.4M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2453	−0.080%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0321%	1h	0.2455	−0.020%	$499K	$470K	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2455	+0.012%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0389%	1h	0.2456	+0.049%	$140K	—	100x	as long as short