Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+2.4663%/8h= +2700.6% APRpaid last 24h −0.004%

Price spread now: Deribit against KuCoin+2.581%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs+$212as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 3 days (all we have)−2.433%−$243 · spread now +2.581%, 7d avg +0.035%

Together, before fees−2.423%−$242 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$740 a day on $10k at the current rate, and Deribit is 2.546% dearer against KuCoin than usual: you sell high and buy low: +$255 more if the spread goes back to its 7-day average of +0.035%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.010% in total (about 0.5% 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	KuCoin ADAUSDTM	0.2457	0.0100	pay 0.0100% / 8h	1h 05m	$30.2M	$18.1M	75x
Short	Deribit ADA_USDC-PERPETUAL	0.2520	2.4763	get 0.3095% / 1h	5m 59s	$492K	$376K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +2.581%Rate

Funding earned: $5,179.23
Price spread: +2.581% → +0.035%: $254.58
Slippage, 4 orders: −$23.16
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $5,391.65
Costs to cover: 0.422%
Break-even: from the start

Slippage from KuCoin: live order book, 3 min ago; Deribit: live order book, 13 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, 3 min ago	1.22 bp	13.5 bp −$13	21.6 bp −$216	doesn't fit	doesn't fit
Sell Deribit live order book, 13 min ago	2.85 bp	6.5 bp −$6	13.5 bp −$135	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
dYdX ADA-USD	0.0000%	1h	0.2457	−0.012%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2459	+0.090%	$171K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2459	+0.070%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2453	−0.155%	$411K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2459	+0.096%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2460	+0.130%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2459	+0.102%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2459	+0.086%	$1.2M	$924K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2458	+0.048%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2457	+0.018%	$102.1M	$360.6M	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	0.2457	+0.008%	$71.5M	$102.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	+0.008%	$31.9M	$105.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2457	+0.008%	$97.2M	$59.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	−0.033%	$52.1M	$51.2M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2457	long leg	$30.2M	$18.1M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2456	−0.033%	$65.9M	$43.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2459	+0.090%	—	$18.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2460	+0.118%	$107K	$417K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	−0.148%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2455	−0.076%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2456	−0.036%	$295K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	−0.073%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2459	+0.106%	$96K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2459	+0.090%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2460	+0.132%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2460	+0.130%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2459	+0.090%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2458	+0.063%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	+0.049%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2459	+0.089%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2456	−0.033%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2455	−0.057%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2458	+0.049%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2459	+0.072%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.578%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2458	+0.059%	$122K	—	100x	as long as short
Deribit ADA_USDC-PERPETUALshort	+2.4763%	1h	0.2520	+2.581%	$492K	$376K	50x