Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0254%/8h= −27.8% APRpaid last 24h −0.010%

Price spread now: Binance against Kraken Futures−0.054%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$440.444% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 3 days (all we have)−0.047%−$5 · spread now −0.054%, 7d avg +0.004%

Together, before fees−0.062%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Binance is 0.058% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.015% in total (about -0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2456	0.0354	pay 0.0044% / 1h	44m 22s	$6.2M	$12.1M	50x
Short	Binance ADAUSDT	0.2455	0.0100	get 0.0100% / 8h	6h 44m	$102.6M	$375.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.054%Rate

Funding earned: −$53.24
Price spread: −0.054% → +0.004%: −$5.8
Slippage, 4 orders: −$24.43
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$103.47
Costs to cover: 0.444%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Binance: live order book, 14 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 Kraken Futures live order book, 5 min ago	3.46 bp	17.4 bp −$17	25.3 bp −$253	76.0 bp −$7,602	doesn't fit
Sell Binance live order book, 14 min ago	2.04 bp	7.0 bp −$7	12.2 bp −$122	32.3 bp −$3,225	96.6 bp −$48.3K

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	0.2450	−0.279%	$202K	$4K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.084%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.591%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2452	−0.182%	$410K	$7.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	−0.182%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2455	−0.052%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2451	−0.223%	$1.2M	$969K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2451	−0.235%	$159K	$158K	10x	as long as short
Binance ADAUSDTshort	+0.0100%	8h	0.2455	−0.054%	$102.6M	$375.5M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2455	−0.060%	$72.2M	$108.4M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	+0.021%	$32.5M	$108.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2452	−0.182%	$98.3M	$58.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	−0.142%	$50.2M	$50.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	−0.072%	$30.0M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2458	+0.062%	$65.7M	$46.6M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	−0.060%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2452	−0.166%	$126K	$422K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	−0.137%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2458	+0.067%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	+0.030%	$296K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2460	+0.143%	$56K	$588K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	−0.137%	$93K	$656K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	−0.019%	$6K	$28K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2457	+0.014%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	−0.100%	$9K	$773K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	+0.021%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2452	−0.191%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2451	−0.223%	$47.7M	$6.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2458	+0.057%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2451	−0.213%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0107%	8h	0.2452	−0.182%	$195K	$6.2M	3.2x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	+0.042%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2459	+0.103%	$4.4M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2453	−0.140%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0354%	1h	0.2456	long leg	$6.2M	$12.1M	50x
Deribit ADA_USDC-PERPETUAL	+0.0605%	1h	0.2457	+0.025%	$502K	$473K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0622% / S −0.0389%	1h	0.2453	−0.132%	$140K	—	100x	as long as short