Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.003%

Price spread now: Coinbase International against Gate0.000%50s7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.448% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now 0.000%, 7d avg +0.011%

Together, before fees−0.075%−$7 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	0.2438	0.0100	pay 0.0100% / 8h	2h 17m	$98.8M	$64.8M	75x
Short	Coinbase International ADA-PERP-INTX	0.2438	0.0104	get 0.0013% / 1h	17m 25s	$380K	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0.84
Price spread: 0.000% → +0.011%: −$1.13
Slippage, 4 orders: −$19.81
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$45.09
Costs to cover: 0.448%
Break-even: 382.8 days

Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 2 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, 2 min ago	2.05 bp	12.5 bp −$13	16.1 bp −$161	80.4 bp −$8,039	doesn't fit
Sell Coinbase International live order book, 2 min ago	4.10 bp	9.1 bp −$9	16.3 bp −$163	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	0.2441	+0.123%	$190K	$7.5M	3.2x	as long as short
dYdX ADA-USD	+0.0002%	1h	0.2438	−0.009%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2438	+0.017%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2441	+0.134%	$6.3M	$13.7M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2441	+0.139%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.354%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2440	+0.086%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2440	+0.103%	$42.0M	$17.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2441	+0.106%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2440	+0.069%	$156K	$176K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2440	+0.082%	$102.7M	$407.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2439	+0.041%	$71.7M	$123.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2439	+0.041%	$32.4M	$117.1M	50x	as long as short
Gate ADA_USDTlong	+0.0100%	8h	0.2438	long leg	$98.8M	$64.8M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2440	+0.082%	$52.4M	$65.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2440	+0.074%	$29.3M	$15.7M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2439	+0.041%	$66.3M	$53.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2440	+0.082%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2441	+0.119%	$126K	$476K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2427	−0.448%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2430	−0.314%	$65K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2438	0.000%	$286K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2439	+0.041%	$84K	$887K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2439	+0.033%	$120K	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2439	+0.041%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2439	+0.055%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2443	+0.203%	$8K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2442	+0.144%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2439	+0.024%	$1.3M	$6.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2440	+0.082%	$47.4M	$7.4M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2441	+0.108%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2439	+0.056%	$521K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0104%	1h	0.2438	0.000%	$380K	$8.5M	50x
BloFin ADA-USDT	+0.0220%	8h	0.2438	0.000%	$4.4M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2440	+0.062%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0447%	1h	0.2440	+0.094%	$608K	$597K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0640% / S −0.0714%	1h	0.2438	−0.006%	$161K	—	100x	as long as short