Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h −0.009%

Price spread now: BingX against Kraken Futures+0.091%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$4 on $10k

Price spread, last 3 days (all we have)−0.273%−$27 · spread now +0.091%, 7d avg −0.004%

Together, before fees−0.238%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.095% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of −0.004%): +$9 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 23 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2438	0.0114	pay 0.0014% / 1h	20m 38s	$6.1M	$11.7M	50x
Short	BingX ADA-USDC	0.2440	0.0100	get 0.0100% / 8h	20m 38s	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$2.94
Price spread: +0.091% → −0.004%: $9.49
Slippage, 4 orders: −$30.67
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$44.13
Costs to cover: 0.507%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; BingX: live order book, 1 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, 3 min ago	1.64 bp	11.9 bp −$12	17.4 bp −$174	45.4 bp −$4,536	doesn't fit
Sell BingX live order book, 1 min ago	4.10 bp	12.7 bp −$13	24.6 bp −$246	78.9 bp −$7,891	633.9 bp −$316.9K

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	0.2440	+0.075%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2440	+0.091%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2439	+0.033%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2437	−0.032%	$415K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2442	+0.161%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2442	+0.169%	$42.3M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2440	+0.091%	$1.2M	$929K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2440	+0.090%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2441	+0.115%	$100.9M	$365.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2440	+0.091%	$70.9M	$103.9M	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	0.2440	+0.091%	$32.2M	$106.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2438	+0.009%	$96.8M	$60.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2439	+0.050%	$51.8M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2440	+0.083%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2440	+0.091%	$65.6M	$43.5M	75x	as long as short
BingX ADA-USDCshort	+0.0100%	8h	0.2440	+0.091%	—	$6.6M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2439	+0.054%	$104K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2438	+0.016%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2435	−0.106%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2436	−0.066%	$290K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2436	−0.073%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2439	+0.058%	$92K	$639K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2438	+0.009%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2438	+0.012%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2441	+0.131%	$9K	$766K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2438	+0.009%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2438	+0.005%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2439	+0.050%	$47.6M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2440	+0.106%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2440	+0.072%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0114%	1h	0.2438	long leg	$6.1M	$11.7M	50x
Phoenix ADA	+0.0130%	1h	0.2440	+0.078%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2440	+0.091%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.362%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2439	+0.033%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2438	+0.019%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+1.2877%	1h	0.2470	+1.309%	$496K	$431K	50x	as long as short