Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: SoDEX against Derive+0.016%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Derive Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive ADA-PERP	0.2453	0.0100	pay 0.0013% / 1h	13m 13s	$40K	$3K	5x
Short	SoDEX ADA-USD	0.2454	0.0100	get 0.0013% / 1h	13m 13s	$337	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Derive. 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 DerivebpFee SoDEXbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → 0.000%: $1.57
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$12.43
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; SoDEX: no order-book sample. Net counts fees only.

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 SoDEX no order-book sample	—	—	—	—	—

Derive and SoDEX: 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 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	0.2455	+0.046%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2456	+0.105%	$154K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.021%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2459	+0.228%	$411K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2454	+0.028%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2455	+0.085%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2455	+0.061%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	+0.009%	$1.2M	$922K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.076%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2454	+0.023%	$101.9M	$360.4M	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	0.2453	−0.017%	$71.4M	$102.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	+0.065%	$31.9M	$105.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2453	−0.017%	$97.0M	$59.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	+0.024%	$52.8M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	+0.008%	$30.1M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	+0.024%	$65.8M	$43.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2454	+0.024%	—	$18.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	+0.061%	$101K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2458	+0.195%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2459	+0.222%	$66K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.195%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2460	+0.268%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	−0.033%	$96K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	−0.017%	$6K	$36K	20x	as long as short
Derive ADA-PERPlong	+0.0100%	1h	0.2453	long leg	$40K	$3K	5x
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.026%	$9K	$760K	30x	as long as short
SoDEX ADA-USDshort	+0.0100%	1h	0.2454	+0.016%	$337	$13K	10x
HTX ADA-USDT	+0.0100%	8h	0.2453	0.000%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	+0.024%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2456	+0.118%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	−0.017%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2455	+0.073%	$4K	$74K	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0158%	1h	0.2454	+0.020%	$479K	$351K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2454	+0.024%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2453	−0.034%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.717%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2452	−0.047%	$122K	—	100x	as long as short