Spread before costs (cost unknown: a leg has no order-book sample)−0.012%
7d average—if it closes, per $10,000$1funding while held, a day−$3.00
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive ADA-PERP | 0.2435 | 0.0100 | pay 0.0013% / 1h | 16m 31s | $39K | $3K | 5x |
| Short | Kalshi KXADAPERP | 0.2435 | 0 | get 0.0000% / 8h | 2h 16m | $145K | $5.8M | 3.2x |
Derive ADA-PERPPrice 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
- −$1.18
- Funding while held
- −$3
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$20.18
- Spread needed to break even
- 0.160%
Slippage unknown: Derive: no order-book sample; Kalshi: live order book, 4 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0100%
- Per $10,000 a day
- −$3.00
- 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 Derive no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 4 min ago | 4.10 bp | 9.1 bp −$9 | 20.2 bp −$202 | doesn't fit | doesn't fit |
Derive: 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.Injective0.2424cheapestBybit0.2429+0.206%Gate0.2429+0.206%Extended0.2430+0.230%Binance0.2430+0.248%OKX0.2430+0.248%Bitget0.2430+0.248%BingX0.2430+0.248%dYdX0.2430+0.257%Paradex0.2431+0.273%Pacifica0.2431+0.273%MEXC0.2431+0.289%KuCoin0.2431+0.297%Aster0.2431+0.297%Lighter0.2432+0.318%Hyperliquid0.2434+0.392%BloFin0.2434+0.413%SoDEX0.2435+0.441%GMX0.2435+0.444%ApeX Omni0.2435+0.454%Orderly0.2435+0.454%Phemex0.2435+0.454%gTrade (Gains Network)0.2435+0.455%
Injective
Bybit
Gate
Extended
Binance
OKX
Bitget
BingX
dYdX
Paradex
Pacifica
MEXC
KuCoin
Aster
Lighter
Hyperliquid
BloFin
SoDEX
GMX
ApeX Omni
Orderly
Phemex
gTrade (Gains Network)Derive0.2435+0.466%
Reya0.2436+0.478%Backpack0.2436+0.479%SunX0.2436+0.495%Polymarket Perps0.2436+0.499%Deribit0.2436+0.503%Kraken Futures0.2436+0.506%Variational Omni0.2437+0.524%HTX0.2437+0.526%Coinbase International0.2437+0.536%Phoenix0.2437+0.553%edgeX0.2439+0.619%
Reya
Backpack
SunX
Polymarket Perps
Deribit
Kraken Futures
Variational Omni
HTX
Coinbase International
PhoenixADA on 36 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective ADA/USDC PERP | −0.464% | +0.0033% | 1h | $832 | $103K | 12x | as long as short |
| Bybit ADAUSDT | −0.258% | +0.0100% | 8h | $71.0M | $98.3M | 75x | as long as short |
| Gate ADA_USDT | −0.258% | +0.0100% | 8h | $94.5M | $55.0M | 75x | as long as short |
| Extended ADA-USD | −0.235% | +0.0104% | 1h | $606K | $1.7M | 50x | as long as short |
| Binance ADAUSDT | −0.217% | +0.0100% | 8h | $101.1M | $340.3M | 75x | as long as short |
| OKX ADA-USDT-SWAP | −0.217% | +0.0100% | 8h | $32.2M | $101.8M | 50x | as long as short |
| Bitget ADAUSDT | −0.217% | +0.0100% | 8h | $64.2M | $41.7M | 75x | as long as short |
| BingX ADA-USDT | −0.217% | +0.0100% | 8h | — | $18.9M | — | as long as short |
| dYdX ADA-USD | −0.208% | +0.0055% | 1h | $201K | $2K | 10x | as long as short |
| Paradex ADA-USD-PERP | −0.192% | +0.0101% | 8h | $20K | $250 | 20x | as long as short |
Show all 36 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Pacifica ADA | −0.192% | +0.0100% | 1h | $156K | $153K | 10x | as long as short |
| MEXC ADA_USDT | −0.176% | +0.0100% | 8h | $52.8M | $60.4M | 300x | as long as short |
| KuCoin ADAUSDTM | −0.168% | +0.0100% | 8h | $30.0M | $17.6M | 75x | as long as short |
| Aster ADAUSDT | −0.168% | +0.0100% | 8h | $1.1M | $1.0M | 75x | as long as short |
| Lighter ADA | −0.147% | +0.0096% | 1h | $2.4M | $1.2M | 10x | as long as short |
| Hyperliquid ADA | −0.073% | +0.0100% | 1h | $42.9M | $13.6M | 10x | as long as short |
| BloFin ADA-USDT | −0.053% | +0.0220% | 8h | $4.4M | $5.3M | 75x | as long as short |
| SoDEX ADA-USD | −0.024% | +0.0100% | 1h | $335 | $13K | 10x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | −0.022% | L +0.0520% / S −0.0276% | 1h | $112K | — | 100x | as long as short |
| ApeX Omni ADAUSDT | −0.012% | +0.0100% | 1h | $228K | $453K | 50x | as long as short |
| Kalshi KXADAPERPshort | −0.012% | 0.0000% | 8h | $145K | $5.8M | 3.2x | |
| Orderly PERP_ADA_USDC | −0.012% | +0.0100% | 8h | $6K | $36K | 20x | as long as short |
| Phemex ADAUSDT | −0.012% | +0.0100% | 8h | $47.5M | $5.4M | 50x | as long as short |
| gTrade (Gains Network) ADA/USD | −0.010% | L +0.0005% / S −0.0003% | 1h | $83K | — | 150x | as long as short |
| Derive ADA-PERPlong | 0.000% | +0.0100% | 1h | $39K | $3K | 5x | |
| Reya ADARUSDPERP | +0.013% | +0.0292% | 1h | $1K | — | 15x | as long as short |
| Backpack ADA_USDC_PERP | +0.013% | +0.0100% | 1h | $101K | $408K | 15x | as long as short |
| SunX ADA-USDT | +0.029% | +0.0100% | 8h | $9K | $749K | 30x | as long as short |
| Polymarket Perps ADA-USD | +0.033% | +0.0100% | 1h | $92K | $726K | 10x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.037% | +0.0448% | 1h | $476K | $383K | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.041% | +0.0354% | 1h | $6.1M | $10.6M | 50x | as long as short |
| Variational Omni ADA | +0.058% | +0.0100% | 8h | $4.2M | $1.0M | — | as long as short |
| HTX ADA-USDT | +0.060% | +0.0100% | 8h | $1.3M | $4.5M | 75x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.070% | +0.0080% | 1h | $480K | $6.8M | 50x | as long as short |
| Phoenix ADA | +0.087% | +0.0164% | 1h | $4K | $94K | 10x | as long as short |
| edgeX ADAUSDC | +0.153% | +0.0100% | 4h | $65K | $278K | 20x | as long as short |