Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Pacifica−0.183%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Pacifica Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.190%+$19 · spread now −0.183%, 7d avg −0.009%

Together, before fees+0.201%+ Points / potential airdropPacifica: Active · edgeX: Active · farm board+$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.174% cheaper against Pacifica than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ADA	0.2444	0.0100	pay 0.0013% / 1h	15m 32s	$157K	$176K	10x
Short	edgeX ADAUSDC	0.2439	0.0100	get 0.0050% / 4h	2h 15m	$65K	$287K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Pacifica. 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 PacificabpFee edgeXbpOrdersPrice spread, now −0.183%Rate

Funding earned: $0
Price spread: −0.183% → −0.009%: −$17.37
Slippage, 4 orders: −$21.45
Fee Pacifica: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$55.82
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from Pacifica: live order book, 32 min ago; edgeX: live order book, 32 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 Pacifica live order book, 32 min ago	2.63 bp	7.9 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 32 min ago	6.07 bp	10.6 bp −$11	28.1 bp −$281	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
Kalshi KXADAPERP	0.0000%	8h	0.2441	−0.120%	$186K	$7.5M	3.2x	as long as short
dYdX ADA-USD	+0.0002%	1h	0.2444	−0.014%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2439	−0.185%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2441	−0.132%	$6.3M	$13.7M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2441	−0.104%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.107%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2445	+0.031%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2446	+0.073%	$42.8M	$18.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2444	−0.002%	$1.2M	$1.1M	75x	as long as short
Pacifica ADAlong	+0.0100%	1h	0.2444	long leg	$157K	$176K	10x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2444	+0.002%	$102.9M	$408.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2443	−0.038%	$71.8M	$123.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2443	−0.038%	$32.4M	$117.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2443	−0.038%	$99.1M	$65.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2443	−0.038%	$52.5M	$65.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2443	−0.022%	$29.3M	$15.7M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2444	+0.002%	$66.4M	$53.1M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2444	+0.002%	—	$20.2M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2443	−0.043%	$127K	$476K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2440	−0.157%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDCshort	+0.0100%	4h	0.2439	−0.183%	$65K	$287K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2438	−0.243%	$286K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2441	−0.120%	$84K	$888K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2440	−0.169%	$118K	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2441	−0.120%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2441	−0.109%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2441	−0.123%	$8K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2441	−0.116%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2441	−0.107%	$1.3M	$6.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2441	−0.120%	$47.4M	$7.4M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2446	+0.066%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2443	−0.045%	$521K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2440	−0.161%	$379K	$8.5M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2442	−0.079%	$4.4M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2441	−0.119%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0611%	1h	0.2442	−0.063%	$608K	$597K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0714%	1h	0.2440	−0.170%	$161K	—	100x	as long as short