Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h −0.007%

Price spread now: Gate against Deribit−0.231%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 3 days (all we have)+0.127%+$13 · spread now −0.231%, 7d avg −0.074%

Together, before fees+0.140%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Gate is 0.156% cheaper against Deribit than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.074%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.013% in total (about 0.7% a year). A funding rate is set anew for every payment. 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	Deribit ADA_USDC-PERPETUAL	0.2471	0.0398	pay 0.0050% / 1h	25m 42s	$505K	$470K	50x
Short	Gate ADA_USDT	0.2465	0.0100	get 0.0100% / 8h	6h 25m	$98.4M	$59.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now −0.231%Rate

Funding earned: −$62.58
Price spread: −0.231% → −0.074%: −$15.62
Slippage, 4 orders: −$14.21
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$114.41
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from Deribit: live order book, 43 min ago; Gate: 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 Deribit live order book, 43 min ago	2.62 bp	6.4 bp −$6	13.0 bp −$130	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	2.04 bp	9.5 bp −$10	14.7 bp −$147	86.9 bp −$8,687	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	0.2465	−0.227%	$203K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2468	−0.095%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.012%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2468	−0.109%	$408K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2467	−0.138%	$43.0M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2469	−0.060%	$1.2M	$970K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2466	−0.208%	$160K	$156K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2466	−0.204%	$103.2M	$373.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2466	−0.190%	$72.5M	$108.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2467	−0.150%	$32.8M	$108.0M	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_USDTshort	+0.0100%	8h	0.2465	−0.231%	$98.4M	$59.9M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2466	−0.190%	$49.6M	$51.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2466	−0.186%	$30.1M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2466	−0.190%	$66.0M	$47.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2466	−0.190%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2469	−0.053%	$128K	$423K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2469	−0.065%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	−0.584%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	−0.557%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2458	−0.514%	$56K	$588K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2469	−0.089%	$94K	$666K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2469	−0.069%	$6K	$27K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2471	−0.005%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	−0.031%	$8K	$767K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2469	−0.053%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2468	−0.113%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2468	−0.109%	$48.0M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2466	−0.177%	$535K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2468	−0.121%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0111%	8h	0.2469	−0.069%	$140K	$6.3M	3.2x	as long as short
Phoenix ADA	+0.0163%	1h	0.2461	−0.376%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0200%	1h	0.2468	−0.117%	$2.5M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2469	−0.088%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0352%	1h	0.2468	−0.090%	$6.3M	$12.1M	50x	as long as short
Deribit ADA_USDC-PERPETUALlong	+0.0398%	1h	0.2471	long leg	$505K	$470K	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0417% / S −0.0202%	1h	0.2469	−0.079%	$96K	—	100x	as long as short