Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Kalshi−0.122%7-day average +0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on Kalshi Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.286%+$29 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.122%, 7d avg +0.084%

Together, before fees+0.327%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.206% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.122% now, against its 7-day average of +0.084%). If the spread goes back, that is −$21 on $10k: about 5.5 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXADAPERP	0.2460	0	get 0.0000% / 8h	5h 15m	$209K	$7.6M	3.2x
Short	ApeX Omni ADAUSDT	0.2457	0.0126	get 0.0016% / 1h	15m 22s	$79K	$893K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kalshi. 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 KalshibpFee ApeX OmnibpOrdersPrice spread, now −0.122%Rate

Funding earned: $26.43
Price spread: −0.122% → +0.084%: −$20.62
Slippage, 4 orders: −$21.73
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$35.92
Costs to cover: 0.417%
Break-even: 16.5 days

Slippage from Kalshi: live order book, 3 min ago; ApeX Omni: live order book, 29 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 Kalshi live order book, 3 min ago	6.10 bp	11.6 bp −$12	21.1 bp −$211	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 29 min ago	2.05 bp	8.5 bp −$8	39.4 bp −$394	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
Kalshi KXADAPERPlong	0.0000%	8h	0.2460	long leg	$209K	$7.6M	3.2x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2456	−0.147%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.447%	$849	$202K	12x	as long as short
dYdX ADA-USD	+0.0039%	1h	0.2462	+0.061%	$203K	$2K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2462	+0.081%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2462	+0.089%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2462	+0.093%	$158K	$177K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2462	+0.089%	$103.6M	$407.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2462	+0.081%	$73.3M	$124.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2462	+0.081%	$32.8M	$118.8M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2461	+0.041%	$100.8M	$64.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2462	+0.081%	$52.8M	$65.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2463	+0.118%	$29.4M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2462	+0.081%	$67.0M	$53.6M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2462	+0.081%	—	$20.2M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	+0.084%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2458	−0.090%	$66K	$288K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	−0.109%	$293K	$3.9M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2462	+0.085%	$128K	$1.3M	10x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2464	+0.163%	$8K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2464	+0.142%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2463	+0.138%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2462	+0.081%	$47.7M	$7.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2462	+0.072%	$516K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2464	+0.147%	$21K	$250	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2459	−0.041%	$381K	$8.4M	50x	as long as short
ApeX Omni ADAUSDTshort	+0.0126%	1h	0.2457	−0.122%	$79K	$893K	50x
Lighter ADA	+0.0152%	1h	0.2465	+0.183%	$2.4M	$1.0M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	−0.106%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0169%	1h	0.2463	+0.118%	$6.4M	$13.9M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0181%	1h	0.2464	+0.150%	$140K	$484K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2460	0.000%	$4.5M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0274%	1h	0.2462	+0.081%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0322%	1h	0.2465	+0.191%	$43.3M	$18.1M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0562%	1h	0.2464	+0.163%	$629K	$617K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0603% / S −0.0679%	1h	0.2461	+0.032%	$156K	—	100x	as long as short