Funding you earn now, next payment 05:00 UTC−0.0068%/8h= −7.4% APRnext payment −$0.08 per $10,000 · paid last 24h +0.003%
Price spread now: Phoenix against Pacifica−0.419%47s7-day average +0.045% · you buy dearer than you sell
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$430.433% of the position
Funding, last 7 days−0.268%−$27 on $10k
+Price spread, last 4 days (all we have)+0.523%+$52 · spread now −0.419%, 7d avg +0.045%
=Together, before fees+0.255%+ Points / potential airdropPacifica: Active · farm board+$26 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.464% cheaper against Pacifica than usual: you would sell low and buy high (−$46 if the spread goes back to its 7-day average of +0.045%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica ADA | 0.2440 | 0.0100 | pay 0.0013% / 1h | 18m 04s | $156K | $176K | 10x |
| Short | Phoenix ADA | 0.2429 | 0.0032 | get 0.0004% / 1h | 18m 04s | $4K | $105K | 10x |
Pacifica ADA
Phoenix ADAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Pacifica. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14.19
- Price spread: −0.419% → +0.045%
- −$46.38
- Slippage, 4 orders
- −$28.32
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$103.89
- Costs to cover
- 0.433%
- Break-even
- never at this rate
Slippage from Pacifica: live order book, 30 min ago; Phoenix: live order book, 35 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, 30 min ago | 2.63 bp | 7.9 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 35 min ago | 0.81 bp | 13.0 bp −$13 | 44.8 bp −$448 | 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 | +0.052% | $190K | $7.5M | 3.2x | as long as short |
| dYdX ADA-USD | +0.0002% | 1h | 0.2438 | −0.067% | $201K | $2K | 10x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2439 | −0.010% | $83K | — | 150x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0020% | 1h | 0.2441 | +0.063% | $6.3M | $13.7M | 50x | as long as short |
| Phoenix ADAshort | +0.0032% | 1h | 0.2429 | −0.419% | $4K | $105K | 10x | |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +1.282% | $849 | $202K | 12x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2443 | +0.126% | $2.4M | $1.0M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2441 | +0.036% | $42.0M | $17.5M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2439 | −0.032% | $1.2M | $1.1M | 75x | as long as short |
| Pacifica ADAlong | +0.0100% | 1h | 0.2440 | long leg | $156K | $176K | 10x |
Kalshi KXADAPERP
dYdX ADA-USD
gTrade (Gains Network) ADA/USD
Kraken Futures PF_ADAUSD
Injective ADA/USDC PERP
Lighter ADA
Hyperliquid ADA
Aster ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ADAUSDT | +0.0100% | 8h | 0.2439 | −0.030% | $102.7M | $407.5M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2437 | −0.111% | $71.6M | $123.5M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2438 | −0.070% | $32.4M | $117.0M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2439 | −0.030% | $98.8M | $64.8M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2441 | +0.052% | $52.4M | $65.0M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2441 | +0.040% | $29.3M | $15.7M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2440 | +0.011% | $66.3M | $53.0M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2440 | +0.011% | — | $6.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2441 | +0.048% | $126K | $476K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2427 | −0.518% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2430 | −0.384% | $65K | $286K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2419 | −0.852% | $284K | $4.0M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2420 | −0.808% | $84K | $887K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2439 | −0.013% | $122K | $1.0M | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2440 | +0.011% | $6K | $6K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2441 | +0.069% | $40K | $2K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2443 | +0.132% | $8K | $764K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2442 | +0.073% | $336 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2439 | −0.046% | $1.3M | $6.9M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2440 | +0.011% | $47.4M | $7.4M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0101% | 8h | 0.2440 | −0.002% | $20K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2441 | +0.047% | $521K | $1.8M | 50x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0104% | 1h | 0.2438 | −0.070% | $380K | $8.5M | 50x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2438 | −0.070% | $4.4M | $5.8M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0275% | 1h | 0.2441 | +0.053% | $1K | — | 15x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0529% | 1h | 0.2442 | +0.106% | $608K | $597K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0640% / S −0.0714% | 1h | 0.2440 | +0.009% | $161K | — | 100x | as long as short |
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Coinbase International ADA-PERP-INTX
BloFin ADA-USDT
Reya ADARUSDPERP
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]