Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h +0.003%

Price spread now: Backpack against Gate+0.033%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on Gate Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.033%, 7d avg +0.036%

Together, before fees−0.174%−$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ADA_USDT	0.2450	0.0097	pay 0.0097% / 8h	6h 30m	$97.6M	$59.7M	75x
Short	Backpack ADA_USDC_PERP	0.2451	0.0100	get 0.0013% / 1h	30m 42s	$125K	$421K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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 GatebpFee BackpackbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0.63
Price spread: +0.033% → +0.036%: −$0.35
Slippage, 4 orders: −$13.08
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$37.8
Costs to cover: 0.381%
Break-even: 427.0 days

Slippage from Gate: live order book, 3 min ago; Backpack: live order book, 38 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 Gate live order book, 3 min ago	2.04 bp	12.7 bp −$13	17.8 bp −$178	96.0 bp −$9,598	doesn't fit
Sell Backpack live order book, 38 min ago	0.81 bp	6.6 bp −$7	9.6 bp −$96	doesn't fit	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	0.2453	+0.110%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2450	+0.015%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.857%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2451	+0.041%	$399K	$7.4M	50x	as long as short
Gate ADA_USDTlong	+0.0097%	8h	0.2450	long leg	$97.6M	$59.7M	75x
Hyperliquid ADA	+0.0100%	1h	0.2453	+0.122%	$42.8M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2452	+0.082%	$1.2M	$969K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	+0.131%	$159K	$158K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2454	+0.154%	$102.5M	$373.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	+0.163%	$72.1M	$108.9M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	+0.204%	$32.5M	$107.8M	50x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	+0.122%	$49.4M	$51.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2452	+0.061%	$29.9M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	+0.204%	$65.6M	$46.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2455	+0.204%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERPshort	+0.0100%	1h	0.2451	+0.033%	$125K	$421K	15x
Variational Omni ADA	+0.0100%	8h	0.2452	+0.087%	$4.2M	$991K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	+0.138%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	+0.030%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.163%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2452	+0.098%	$92K	$665K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	+0.041%	$6K	$27K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	+0.071%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	+0.202%	$9K	$770K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.020%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	+0.045%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2450	0.000%	$47.7M	$6.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2451	+0.056%	$532K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2453	+0.103%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0113%	8h	0.2452	+0.082%	$148K	$6.3M	3.2x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	+0.294%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0168%	1h	0.2454	+0.151%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2452	+0.063%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0355%	1h	0.2449	−0.023%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0415% / S −0.0202%	1h	0.2451	+0.033%	$95K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.3913%	1h	0.2460	+0.429%	$503K	$471K	50x	as long as short