Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.024%

Price spread now: KuCoin against dYdX+0.047%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$313as in the Funding arb table

Net, price: spread back to 7d avg − costs−$319as in the Price arb table

costs, in and out, $10k−$3223.224% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.047%, 7d avg +0.013%

Together, before fees+0.035%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.033% dearer against dYdX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2448	0.0001	pay 0.0000% / 1h	2m 01s	$201K	$2K	10x
Short	KuCoin ADAUSDTM	0.2449	0.0100	get 0.0100% / 8h	2h 02m	$29.4M	$15.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against dYdX. 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 dYdXbpFee KuCoinbpOrdersPrice spread, now +0.047%Rate

Funding earned: $20.7
Price spread: +0.047% → +0.013%: $3.33
Slippage, 4 orders: −$300.39
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$298.37
Costs to cover: 3.224%
Break-even: 107.9 days

Slippage from dYdX: live order book, 47 min ago; KuCoin: live order book, 7 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, 47 min ago	143.70 bp	148.7 bp −$149	148.7 bp −$1,487	148.7 bp −$14.9K	152.4 bp −$76.2K
Sell KuCoin live order book, 7 min ago	2.04 bp	11.5 bp −$12	19.2 bp −$192	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
Kalshi KXADAPERP	0.0000%	8h	0.2449	+0.051%	$187K	$7.6M	3.2x	as long as short
dYdX ADA-USDlong	+0.0001%	1h	0.2448	long leg	$201K	$2K	10x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2448	−0.007%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2449	+0.046%	$6.3M	$13.8M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2454	+0.263%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.949%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2451	+0.120%	$2.4M	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2449	+0.051%	$6K	$6K	20x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2451	+0.141%	$43.1M	$18.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2449	+0.051%	$1.2M	$1.1M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ADA	+0.0100%	1h	0.2449	+0.052%	$157K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2450	+0.090%	$103.1M	$410.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2449	+0.051%	$72.4M	$124.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	+0.091%	$32.5M	$118.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2448	+0.010%	$100.0M	$65.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	+0.051%	$52.1M	$65.5M	300x	as long as short
KuCoin ADAUSDTMshort	+0.0100%	8h	0.2449	+0.047%	$29.4M	$15.8M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2449	+0.051%	$66.6M	$53.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2448	+0.010%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	+0.083%	$137K	$485K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2452	+0.176%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	+0.171%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2450	+0.091%	$288K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2452	+0.173%	$83K	$889K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2448	+0.026%	$129K	$1.1M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2450	+0.073%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	+0.087%	$8K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.071%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2447	−0.013%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2449	+0.051%	$47.5M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2448	+0.021%	$524K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2449	+0.051%	$379K	$8.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2448	+0.028%	$21K	$250	20x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2452	+0.173%	$4.4M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2449	+0.048%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0567%	1h	0.2450	+0.096%	$623K	$613K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0631% / S −0.0728%	1h	0.2448	+0.002%	$164K	—	100x	as long as short