Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: SoDEX against Kalshi−0.028%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.028% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 23 hours 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	0.2474	0	get 0.0000% / 8h	7h 16m	$139K	$6.9M	3.2x
Short	SoDEX ADA-USD	0.2473	0.0100	get 0.0013% / 1h	16m 21s	$340	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $21
Price spread: −0.028% → 0.000%: −$2.83
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $0.17
Costs to cover: 0.180%
Break-even: 6.9 days

Slippage unknown: Kalshi: live order book, 2 min ago; SoDEX: no order-book sample. 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 Kalshi live order book, 2 min ago	4.05 bp	9.5 bp −$10	18.1 bp −$181	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	0.2469	−0.222%	$203K	$2K	10x	as long as short
Kalshi KXADAPERPlong	0.0000%	8h	0.2474	long leg	$139K	$6.9M	3.2x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2464	−0.390%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2463	−0.444%	$6.3M	$13.2M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.121%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2473	−0.040%	$393K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2469	−0.194%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2466	−0.340%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2468	−0.223%	$158K	$170K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2464	−0.392%	$104.8M	$389.3M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2462	−0.485%	$74.2M	$115.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2464	−0.404%	$33.0M	$110.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2463	−0.445%	$100.1M	$62.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2467	−0.283%	$58.6M	$62.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2465	−0.364%	$29.5M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2464	−0.404%	$67.1M	$51.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2463	−0.445%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2477	+0.124%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2480	+0.228%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2480	+0.260%	$301K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2470	−0.162%	$228K	$756K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2465	−0.348%	$93K	$632K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2464	−0.404%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2464	−0.404%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2464	−0.407%	$8K	$744K	30x	as long as short
SoDEX ADA-USDshort	+0.0100%	1h	0.2473	−0.028%	$340	$13K	10x
HTX ADA-USDT	+0.0100%	8h	0.2475	+0.027%	$1.3M	$6.6M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2472	−0.081%	$48.2M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2469	−0.188%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2463	−0.452%	$534K	$1.8M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0156%	1h	0.2464	−0.396%	$606K	$533K	50x	as long as short
Phoenix ADA	+0.0161%	1h	0.2480	+0.259%	$4K	$95K	10x	as long as short
Backpack ADA_USDC_PERP	+0.0186%	1h	0.2471	−0.125%	$126K	$470K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2471	−0.121%	$4.6M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2464	−0.424%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0346%	1h	0.2467	−0.287%	$44.0M	$16.2M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0619% / S −0.0580%	1h	0.2464	−0.412%	$139K	—	100x	as long as short