Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.003%
Price spread now: Backpack against Injective+0.498%7-day average +0.320% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.090%−$9 on $10k
+Price spread, last 3 days (all we have)+0.588%+$59 · spread now +0.498%, 7d avg +0.320%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.177% dearer against Injective than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.320%. Mind the row above: over the last 7 days funding on this pair cost −0.090%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective ADA/USDC PERP | 0.2471 | 0.0033 | pay 0.0004% / 1h | 13m 10s | $849 | $202K | 12x |
| Short | Backpack ADA_USDC_PERP | 0.2483 | 0.0100 | get 0.0013% / 1h | 13m 10s | $137K | $416K | 15x |
Injective ADA/USDC PERP
Backpack ADA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- $14
- Price spread: +0.498% → +0.320%
- $17.73
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $21.71
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Backpack: live order book, 61 min ago. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 61 min ago | 0.41 bp | 7.1 bp −$7 | 9.1 bp −$91 | doesn't fit | doesn't fit |
Injective: 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 | 0.2484 | +0.518% | $204K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2485 | +0.567% | $215K | $6.2M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2483 | +0.480% | $85K | — | 150x | as long as short |
| Injective ADA/USDC PERPlong | +0.0033% | 1h | 0.2471 | long leg | $849 | $202K | 12x | |
| Coinbase International ADA-PERP-INTX | +0.0040% | 1h | 0.2484 | +0.526% | $443K | $7.4M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0047% | 1h | 0.2482 | +0.455% | $6.3M | $11.8M | 50x | as long as short |
| Phoenix ADA | +0.0098% | 1h | 0.2475 | +0.146% | $4K | $84K | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2484 | +0.526% | $1.2M | $955K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2486 | +0.597% | $160K | $150K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2483 | +0.483% | $103.6M | $367.1M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Kraken Futures PF_ADAUSD
Phoenix ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2482 | +0.445% | $72.9M | $105.0M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2483 | +0.486% | $32.9M | $108.0M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2481 | +0.405% | $99.1M | $59.7M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2483 | +0.486% | $54.6M | $52.1M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2484 | +0.510% | $30.5M | $17.8M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2482 | +0.445% | $67.0M | $44.8M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2483 | +0.486% | — | $20.5M | — | as long as short |
| Backpack ADA_USDC_PERPshort | +0.0100% | 1h | 0.2483 | +0.498% | $137K | $416K | 15x | |
| Variational Omni ADA | +0.0100% | 8h | 0.2474 | +0.126% | $4.3M | $968K | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2480 | +0.384% | $66K | $283K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2482 | +0.441% | $294K | $3.7M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2485 | +0.567% | $56K | $585K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2483 | +0.478% | $95K | $649K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2484 | +0.526% | $6K | $29K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2485 | +0.565% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2484 | +0.525% | $9K | $764K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2483 | +0.506% | $342 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2485 | +0.565% | $1.3M | $5.5M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2483 | +0.486% | $48.5M | $5.7M | 50x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2485 | +0.565% | $542K | $1.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0105% | 8h | 0.2486 | +0.606% | $21K | $250 | 20x | as long as short |
| Lighter ADA | +0.0184% | 1h | 0.2484 | +0.538% | $2.5M | $1.1M | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2485 | +0.567% | $4.4M | $5.6M | 75x | as long as short |
| Hyperliquid ADA | +0.0243% | 1h | 0.2484 | +0.530% | $43.4M | $14.3M | 10x | as long as short |
| Reya ADARUSDPERP | +0.0282% | 1h | 0.2484 | +0.507% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0629% / S −0.0393% | 1h | 0.2483 | +0.489% | $143K | — | 100x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +1.1992% | 1h | 0.2514 | +1.724% | $505K | $433K | 50x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
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
Extended ADA-USD
Paradex ADA-USD-PERP
Lighter ADA
BloFin ADA-USDT
Hyperliquid ADA
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]
Deribit ADA_USDC-PERPETUAL