ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%

Price spread now: Phemex against Kalshi−0.122%7-day average +0.093% · 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−$60as in the Price arb table

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

Long on Kalshi Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.252%+$25 on $10k

Price spread, last 3 days (all we have)+0.268%+$27 · spread now −0.122%, 7d avg +0.093%

Together, before fees+0.520%+$52 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.215% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.122% now, against its 7-day average of +0.093%). If the spread goes back, that is −$22 on $10k: about 7.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXADAPERP	0.2451	0	get 0.0000% / 8h	3h 52m	$195K	$6.1M	3.2x
Short	Phemex ADAUSDT	0.2448	0.0100	get 0.0100% / 8h	7h 52m	$47.8M	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.122%Rate

Funding earned: $21
Price spread: −0.122% → +0.093%: −$21.51
Slippage, 4 orders: −$16.14
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$38.64
Costs to cover: 0.381%
Break-even: 19.9 days

Slippage from Kalshi: live order book, 1 min ago; Phemex: 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 Kalshi live order book, 1 min ago	2.04 bp	11.1 bp −$11	20.9 bp −$209	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	2.04 bp	8.0 bp −$8	15.0 bp −$150	45.2 bp −$4,524	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
dYdX ADA-USD	0.0000%	1h	0.2452	+0.025%	$202K	$4K	10x	as long as short
Kalshi KXADAPERPlong	0.0000%	8h	0.2451	long leg	$195K	$6.1M	3.2x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	+0.063%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.816%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2450	−0.041%	$411K	$7.2M	50x	as long as short
Gate ADA_USDT	+0.0042%	8h	0.2453	+0.082%	$97.9M	$58.0M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0048%	1h	0.2447	−0.159%	$6.1M	$11.7M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0077%	1h	0.2450	−0.057%	$492K	$429K	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2450	−0.057%	$2.4M	$1.0M	10x	as long as short
Phoenix ADA	+0.0098%	1h	0.2453	+0.069%	$4K	$84K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ADA	+0.0100%	1h	0.2455	+0.149%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	+0.102%	$1.2M	$935K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	+0.065%	$158K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2449	−0.095%	$101.4M	$365.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2448	−0.122%	$71.4M	$103.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	−0.082%	$32.4M	$107.0M	50x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	+0.082%	$52.6M	$50.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2453	+0.078%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2448	−0.122%	$65.8M	$43.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2453	+0.082%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2454	+0.114%	$108K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	+0.129%	$4.2M	$967K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	+0.030%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.035%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2452	+0.041%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2452	+0.057%	$94K	$642K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2449	−0.082%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2450	−0.038%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	+0.040%	$9K	$768K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2448	−0.118%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2448	−0.102%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2448	−0.122%	$47.8M	$5.9M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2452	+0.027%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2448	−0.103%	$552K	$1.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2452	+0.041%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2453	+0.063%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0393%	1h	0.2453	+0.075%	$141K	—	100x	as long as short