Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: dYdX against KuCoin+0.004%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$336as in the Funding arb table

Net, price: spread back to 7d avg − costs−$326as in the Price arb table

costs, in and out, $10k−$3273.273% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now +0.004%, 7d avg −0.011%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ADAUSDTM	0.2469	0.0100	pay 0.0100% / 8h	3h 32m	$30.4M	$18.1M	75x
Short	dYdX ADA-USD	0.2469	0	get 0.0000% / 1h	32m 03s	$203K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$21
Price spread: +0.004% → −0.011%: $1.52
Slippage, 4 orders: −$305.27
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$346.75
Costs to cover: 3.273%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; dYdX: live order book, 17 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, 2 min ago	1.01 bp	15.3 bp −$15	24.2 bp −$242	doesn't fit	doesn't fit
Sell dYdX live order book, 17 min ago	128.70 bp	166.3 bp −$166	166.4 bp −$1,664	166.4 bp −$16.6K	191.4 bp −$95.7K

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-USDshort	0.0000%	1h	0.2469	+0.004%	$203K	$4K	10x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2467	−0.093%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0032%	1h	0.2467	−0.081%	$440K	$7.2M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2441	−1.134%	$838	$61K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2471	+0.065%	$2.5M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2469	−0.004%	$42.9M	$13.7M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2468	−0.021%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2470	+0.031%	$158K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2469	−0.004%	$103.1M	$350.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2467	−0.081%	$71.7M	$100.0M	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	0.2467	−0.081%	$32.7M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2465	−0.162%	$97.5M	$57.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2467	−0.081%	$53.0M	$56.1M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2469	long leg	$30.4M	$18.1M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2467	−0.081%	$65.8M	$42.6M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2467	−0.081%	—	$19.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2468	−0.032%	$102K	$429K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	−0.302%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2464	−0.219%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2463	−0.248%	$290K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2468	−0.041%	$55K	$575K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2467	−0.081%	$97K	$736K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2469	0.000%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2469	+0.015%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	+0.041%	$9K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2469	−0.020%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2469	−0.014%	$1.3M	$4.6M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2468	−0.041%	$48.0M	$5.5M	50x	as long as short
Kalshi KXADAPERP	+0.0100%	8h	0.2469	0.000%	$193K	$5.8M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2470	+0.052%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2468	−0.034%	$591K	$1.8M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2469	0.000%	$4K	$84K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2469	0.000%	$4.5M	$5.2M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0255%	1h	0.2469	−0.007%	$6.2M	$11.2M	50x	as long as short
Reya ADARUSDPERP	+0.0288%	1h	0.2467	−0.068%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0521% / S −0.0277%	1h	0.2466	−0.114%	$114K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4742%	1h	0.2530	+2.491%	$491K	$359K	50x	as long as short