After costs, if the gap returns to its 7d average, $10k−$41
spread now+0.025%7d average+0.057%fees + slippage, in and out−$38spread needed0.375%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXADAPERP | 0.2426 | 0 | get 0.0000% / 8h | 3h 20m | $82K | $5.7M | 3.2x |
| Short | Backpack ADA_USDC_PERP | 0.2427 | 0.0100 | get 0.0013% / 1h | 20m 44s | $100K | $422K | 15x |
Backpack ADA_USDC_PERPPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $2.47
- Funding while held
- $3
- Slippage, 4 orders
- −$17.53
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$32.06
- Spread needed to break even
- 0.375%
Slippage from Kalshi: live order book, 4 min ago; Backpack: live order book, 24 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0100%
- Per $10,000 a day
- +$3.00
- Average in range /8h
- —
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, 4 min ago | 4.11 bp | 9.6 bp −$10 | 17.0 bp −$170 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 24 min ago | 0.61 bp | 5.6 bp −$6 | 7.3 bp −$73 | doesn't fit | doesn't fit |
ADA price on every exchange
against the cheapest. Click to use as the short leg.OKX0.2421cheapestBybit0.2422+0.041%Gate0.2422+0.041%MEXC0.2422+0.041%Extended0.2422+0.061%Binance0.2423+0.064%Pacifica0.2423+0.067%Bitget0.2423+0.083%BingX0.2423+0.083%Paradex0.2423+0.085%dYdX0.2423+0.088%KuCoin0.2424+0.107%Aster0.2424+0.124%Injective0.2424+0.124%Lighter0.2424+0.128%Reya0.2424+0.142%Hyperliquid0.2424+0.145%BloFin0.2425+0.165%GMX0.2425+0.184%Polymarket Perps0.2425+0.186%Orderly0.2426+0.207%gTrade (Gains Network)0.2426+0.210%HTX0.2426+0.222%SoDEX0.2427+0.227%Derive0.2427+0.231%
OKX
Bybit
Gate
MEXC
Extended
Binance
Pacifica
Bitget
BingX
Paradex
dYdX
KuCoin
Aster
Injective
Lighter
Reya
Hyperliquid
BloFin
GMX
Polymarket Perps
Orderly
gTrade (Gains Network)
HTX
SoDEX
DeriveBackpack0.2427+0.231%
SunX0.2427+0.245%Phemex0.2427+0.248%Deribit0.2427+0.252%Kraken Futures0.2428+0.279%Phoenix0.2431+0.409%Coinbase International0.2431+0.413%edgeX0.2431+0.424%Variational Omni0.2433+0.477%ApeX Omni0.2434+0.537%
SunX
Phemex
Deribit
Kraken Futures
Phoenix
Coinbase International
Variational Omni
ApeX OmniADA on 36 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| OKX ADA-USDT-SWAP | −0.206% | +0.0100% | 8h | $32.2M | $106.6M | 50x | as long as short |
| Bybit ADAUSDT | −0.165% | +0.0100% | 8h | $70.6M | $108.7M | 75x | as long as short |
| Gate ADA_USDT | −0.165% | +0.0100% | 8h | $94.1M | $56.9M | 75x | as long as short |
| MEXC ADA_USDT | −0.165% | +0.0100% | 8h | $51.1M | $63.5M | 300x | as long as short |
| Extended ADA-USD | −0.145% | +0.0104% | 1h | $597K | $1.7M | 50x | as long as short |
| Binance ADAUSDT | −0.143% | +0.0100% | 8h | $100.8M | $361.9M | 75x | as long as short |
| Pacifica ADA | −0.140% | +0.0100% | 1h | $158K | $177K | 10x | as long as short |
| Bitget ADAUSDT | −0.124% | +0.0100% | 8h | $64.2M | $46.0M | 75x | as long as short |
| BingX ADA-USDC | −0.124% | +0.0100% | 8h | — | $6.5M | — | as long as short |
| Paradex ADA-USD-PERP | −0.121% | +0.0100% | 8h | $20K | $250 | 20x | as long as short |
Show all 36 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| dYdX ADA-USD | −0.119% | +0.0010% | 1h | $200K | $2K | 10x | as long as short |
| KuCoin ADAUSDTM | −0.099% | +0.0100% | 8h | $29.9M | $20.0M | 75x | as long as short |
| Aster ADAUSDT | −0.082% | +0.0100% | 8h | $1.1M | $1.4M | 75x | as long as short |
| Injective ADA/USDC PERP | −0.082% | +0.0033% | 1h | $832 | $124K | 12x | as long as short |
| Lighter ADA | −0.078% | +0.0096% | 1h | $2.2M | $1.0M | 10x | as long as short |
| Reya ADARUSDPERP | −0.065% | +0.0293% | 1h | $1K | — | 15x | as long as short |
| Hyperliquid ADA | −0.062% | +0.0100% | 1h | $42.4M | $14.8M | 10x | as long as short |
| BloFin ADA-USDT | −0.041% | +0.0220% | 8h | $4.4M | $6.2M | 75x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | −0.023% | L +0.0520% / S −0.0276% | 1h | $112K | — | 100x | as long as short |
| Polymarket Perps ADA-USD | −0.021% | +0.0100% | 1h | $92K | $740K | 10x | as long as short |
| Kalshi KXADAPERPlong | 0.000% | 0.0000% | 8h | $82K | $5.7M | 3.2x | |
| Orderly PERP_ADA_USDC | 0.000% | +0.0100% | 8h | $6K | $36K | 20x | as long as short |
| gTrade (Gains Network) ADA/USD | +0.004% | L +0.0005% / S −0.0003% | 1h | $85K | — | 150x | as long as short |
| HTX ADA-USDT | +0.015% | +0.0100% | 8h | $1.3M | $5.0M | 75x | as long as short |
| SoDEX ADA-USD | +0.021% | +0.0100% | 1h | $334 | $13K | 10x | as long as short |
| Derive ADA-PERP | +0.025% | +0.0100% | 1h | $39K | $3K | 5x | as long as short |
| Backpack ADA_USDC_PERPshort | +0.025% | +0.0100% | 1h | $100K | $422K | 15x | |
| SunX ADA-USDT | +0.038% | +0.0100% | 8h | $9K | $793K | 30x | as long as short |
| Phemex ADAUSDT | +0.041% | +0.0100% | 8h | $47.3M | $5.9M | 50x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.045% | +0.0410% | 1h | $465K | $402K | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.072% | +0.0141% | 1h | $5.9M | $11.3M | 50x | as long as short |
| Phoenix ADA | +0.202% | +0.0131% | 1h | $4K | $103K | 10x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.206% | +0.0112% | 1h | $486K | $7.0M | 50x | as long as short |
| edgeX ADAUSDC | +0.217% | +0.0100% | 4h | $64K | $277K | 20x | as long as short |
| Variational Omni ADA | +0.269% | +0.0100% | 8h | $4.2M | $1.0M | — | as long as short |
| ApeX Omni ADAUSDT | +0.330% | +0.0100% | 1h | $227K | $452K | 50x | as long as short |