Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0071%/8h= +7.8% APRpaid last 24h +0.016%

Price spread now: Kraken Futures against KuCoin+0.050%7-day average +0.002% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now +0.050%, 7d avg +0.002%

Together, before fees+0.118%+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kraken Futures is 0.048% dearer against KuCoin than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ADAUSDTM	0.2435	0.0100	pay 0.0100% / 8h	1h 44m	$29.4M	$15.9M	75x
Short	Kraken Futures PF_ADAUSD	0.2436	0.0171	get 0.0021% / 1h	44m 03s	$6.3M	$13.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.050%Rate

Funding earned: $14.88
Price spread: +0.050% → +0.002%: $4.75
Slippage, 4 orders: −$28.75
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$31.12
Costs to cover: 0.508%
Break-even: 21.6 days

Slippage from KuCoin: live order book, 5 min ago; Kraken Futures: live order book, 5 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, 5 min ago	1.85 bp	10.8 bp −$11	17.8 bp −$178	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	2.26 bp	11.3 bp −$11	14.9 bp −$149	42.8 bp −$4,275	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
Kalshi KXADAPERP	0.0000%	8h	0.2440	+0.201%	$200K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2437	+0.058%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.474%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2437	+0.078%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2436	+0.041%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2438	+0.102%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2437	+0.070%	$102.5M	$411.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2436	+0.037%	$72.2M	$125.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2436	+0.037%	$32.4M	$118.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2435	−0.004%	$99.6M	$64.2M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ADA_USDT	+0.0100%	8h	0.2435	−0.004%	$51.8M	$64.5M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2435	long leg	$29.4M	$15.9M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2435	−0.004%	$66.1M	$53.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2436	+0.037%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2437	+0.078%	$139K	$485K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2430	−0.206%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2436	+0.051%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2437	+0.061%	$295K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2439	+0.160%	$81K	$890K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2437	+0.082%	$124K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	+0.082%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2438	+0.117%	$8K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2437	+0.057%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2440	+0.187%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2436	+0.037%	$47.3M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2434	−0.047%	$512K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2439	+0.158%	$20K	$250	20x	as long as short
dYdX ADA-USD	+0.0115%	1h	0.2437	+0.059%	$200K	$2K	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2437	+0.078%	$383K	$8.6M	50x	as long as short
Lighter ADA	+0.0128%	1h	0.2438	+0.136%	$2.4M	$1.0M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2441	+0.238%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0171%	1h	0.2436	+0.050%	$6.3M	$13.9M	50x
BloFin ADA-USDT	+0.0220%	8h	0.2436	+0.037%	$4.4M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2437	+0.079%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0298%	1h	0.2438	+0.120%	$42.8M	$18.2M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0530%	1h	0.2438	+0.119%	$621K	$614K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2436	+0.047%	$164K	—	100x	as long as short