Funding you earn now, next payment 11:00 UTC+0.0193%/8h= +21.1% APRnext payment +$0.24 per $10,000 · paid last 24h +0.020%
Price spread now: Coinbase International against dYdX−0.382%7-day average −0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$230as in the Funding arb table
Net, price: spread back to 7d avg − costs−$269as in the Price arb table
costs, in and out, $10k−$2322.316% of the position
Funding, last 7 days+0.021%+$2 on $10k
+Price spread, last 4 days (all we have)+0.460%+$46 · spread now −0.382%, 7d avg −0.010%
=Funding pays, the price is against you. Coinbase International is 0.371% cheaper against dYdX than usual: you would sell low and buy high (spread −0.382% now, against its 7-day average of −0.010%). If the spread goes back, that is −$37 on $10k: about 6.4 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.021% in total) that is about 4 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.021% in total (about 1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.24 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | dYdX ADA-USD | 0.2447 | 0.0023 | pay 0.0003% / 1h | 48m 22s | $206K | $6K | 10x |
| Short | Coinbase International ADA-PERP-INTX | 0.2438 | 0.0216 | get 0.0027% / 1h | 48m 22s | $403K | $7.7M | 50x |
dYdX ADA-USD
Coinbase International ADA-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against dYdX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $40.49
- Price spread: −0.382% → −0.010%
- −$37.11
- Slippage, 4 orders
- −$211.64
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$228.27
- Costs to cover
- 2.316%
- Break-even
- 46.5 days
Slippage from dYdX: live order book, 59 min ago; Coinbase International: live order book, 4 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 dYdX live order book, 59 min ago | 99.17 bp | 104.2 bp −$104 | 115.1 bp −$1,151 | 118.2 bp −$11.8K | 139.8 bp −$69.9K |
| Sell Coinbase International live order book, 4 min ago | 2.04 bp | 10.9 bp −$11 | 16.8 bp −$168 | 71.5 bp −$7,149 | doesn't fit |
ADA on 37 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ADAUSD | −0.0105% | 1h | 0.2448 | +0.023% | $6.2M | $12.8M | 50x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2438 | −0.382% | $205K | $7.8M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2446 | −0.047% | $84K | — | 150x | as long as short |
| dYdX ADA-USDlong | +0.0023% | 1h | 0.2447 | long leg | $206K | $6K | 10x | |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +0.967% | $849 | $202K | 12x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2450 | +0.113% | $2.4M | $925K | 10x | as long as short |
| Phoenix ADA | +0.0098% | 1h | 0.2445 | −0.091% | $2K | $102K | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2446 | −0.055% | $1.2M | $1.0M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2449 | +0.080% | $157K | $150K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2446 | −0.043% | $105.0M | $376.2M | 75x | as long as short |
Kraken Futures PF_ADAUSD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Lighter ADA
Phoenix ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2447 | −0.014% | $74.5M | $122.1M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2448 | +0.027% | $32.2M | $104.2M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2445 | −0.096% | $101.2M | $58.2M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2445 | −0.096% | $50.9M | $69.3M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2447 | −0.026% | $29.3M | $14.7M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2448 | +0.027% | $67.1M | $49.2M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2448 | +0.027% | — | $6.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2443 | −0.190% | $136K | $445K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2443 | −0.183% | $4.1M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2445 | −0.098% | $65K | $291K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2445 | −0.087% | $292K | $3.6M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2446 | −0.055% | $67K | $898K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2445 | −0.100% | $91K | $1.5M | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2447 | −0.014% | $6K | $5K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2449 | +0.061% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2449 | +0.070% | $8K | $657K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2449 | +0.047% | $337 | $6K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2440 | −0.309% | $1.3M | $6.7M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2441 | −0.259% | $47.1M | $7.4M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2449 | +0.077% | $19K | $589 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2447 | −0.007% | $540K | $1.7M | 50x | as long as short |
| Hyperliquid ADA | +0.0127% | 1h | 0.2447 | +0.007% | $43.6M | $17.2M | 10x | as long as short |
| Coinbase International ADA-PERP-INTXshort | +0.0216% | 1h | 0.2438 | −0.382% | $403K | $7.7M | 50x | |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2437 | −0.422% | $4.6M | $5.4M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0268% | 1h | 0.2445 | −0.104% | $1K | — | 15x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0363% | 1h | 0.2449 | +0.072% | $571K | $838K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0367% / S −0.0294% | 1h | 0.2447 | −0.031% | $87K | — | 100x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Hyperliquid ADA
BloFin ADA-USDT
Reya ADARUSDPERP
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]