Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h 0.000%

Price spread now: Backpack against KuCoin−0.008%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

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

costs, in and out, $10k−$410.410% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 3 days (all we have)−0.033%−$3 · spread now −0.008%, 7d avg −0.006%

Together, before fees−0.133%−$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ADAUSDTM	0.2434	0.0100	pay 0.0100% / 8h	4h 07m	$30.3M	$17.6M	75x
Short	Backpack ADA_USDC_PERP	0.2434	0.0100	get 0.0013% / 1h	7m 08s	$104K	$421K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → −0.006%: −$0.2
Slippage, 4 orders: −$18.95
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$41.15
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Backpack: live order book, 26 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 KuCoin live order book, 6 min ago	0.82 bp	13.5 bp −$14	22.7 bp −$227	doesn't fit	doesn't fit
Sell Backpack live order book, 26 min ago	0.21 bp	7.8 bp −$8	11.6 bp −$116	doesn't fit	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
Injective ADA/USDC PERP	−0.0071%	1h	0.2441	+0.292%	$838	$97K	12x	as long as short
dYdX ADA-USD	0.0000%	1h	0.2434	+0.008%	$200K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2434	+0.004%	$131K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2434	−0.002%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2430	−0.160%	$454K	$7.0M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2435	+0.058%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2435	+0.066%	$42.4M	$13.9M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2435	+0.043%	$1.1M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2434	−0.002%	$155K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2434	+0.019%	$101.4M	$345.6M	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	0.2431	−0.119%	$70.7M	$99.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2432	−0.078%	$32.2M	$103.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2432	−0.078%	$95.8M	$56.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2432	−0.078%	$52.3M	$57.1M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2434	long leg	$30.3M	$17.6M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2433	−0.037%	$64.4M	$41.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2434	+0.004%	—	$18.9M	—	as long as short
Backpack ADA_USDC_PERPshort	+0.0100%	1h	0.2434	−0.008%	$104K	$421K	15x
Variational Omni ADA	+0.0100%	8h	0.2434	+0.024%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2436	+0.088%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2435	+0.060%	$294K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2435	+0.045%	$55K	$573K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2435	+0.037%	$93K	$730K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2434	+0.004%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2434	+0.015%	$39K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2435	+0.046%	$9K	$751K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2434	−0.016%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2434	+0.021%	$1.3M	$4.6M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2434	+0.004%	$47.4M	$5.3M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2435	+0.058%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2433	−0.044%	$586K	$1.8M	50x	as long as short
Phoenix ADA	+0.0197%	1h	0.2437	+0.115%	$4K	$87K	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0202%	1h	0.2435	+0.033%	$475K	$361K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2433	−0.037%	$4.4M	$5.1M	75x	as long as short
Reya ADARUSDPERP	+0.0289%	1h	0.2433	−0.021%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0426%	1h	0.2434	+0.001%	$6.1M	$10.8M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0436% / S −0.0207%	1h	0.2434	−0.014%	$95K	—	100x	as long as short