Funding you earn now, next payment 02:00 UTC−0.0005%/8h= −0.6% APRpaid last 24h 0.000%
Price spread now: Backpack against Paradex+0.054%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.054% dearer against Paradex than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paradex ADA-USD-PERP | 0.2460 | 0.0105 | pay 0.0105% / 8h | 6h 24m | $21K | $250 | 20x |
| Short | Backpack ADA_USDC_PERP | 0.2462 | 0.0100 | get 0.0013% / 1h | 24m 03s | $127K | $419K | 15x |
Paradex ADA-USD-PERP
Backpack ADA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Paradex. 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
- −$1.12
- Price spread: +0.054% → 0.000%
- $5.42
- Slippage, 4 orders
- no order book: not counted
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$9.71
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Paradex: no order-book sample; Backpack: live order book, 45 min ago. Net counts fees only.
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 Paradex no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 45 min ago | 0.81 bp | 6.6 bp −$7 | 9.6 bp −$96 | doesn't fit | doesn't fit |
Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
ADA on 36 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 | 0.2461 | +0.016% | $202K | $3K | 10x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2457 | −0.121% | $84K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +0.432% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0048% | 1h | 0.2459 | −0.056% | $406K | $7.4M | 50x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2464 | +0.131% | $43.0M | $14.4M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2459 | −0.048% | $1.2M | $970K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2462 | +0.063% | $159K | $156K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2463 | +0.105% | $103.1M | $372.4M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2462 | +0.066% | $72.4M | $108.2M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2463 | +0.107% | $32.7M | $107.8M | 50x | as long as short |
dYdX ADA-USD
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTX
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAPShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ADA_USDT | +0.0100% | 8h | 0.2461 | +0.026% | $98.1M | $60.0M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2463 | +0.107% | $58.8M | $52.7M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2459 | −0.043% | $30.0M | $17.6M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2462 | +0.066% | $65.9M | $47.0M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2462 | +0.066% | — | $20.5M | — | as long as short |
| Backpack ADA_USDC_PERPshort | +0.0100% | 1h | 0.2462 | +0.054% | $127K | $419K | 15x | |
| Variational Omni ADA | +0.0100% | 8h | 0.2469 | +0.355% | $4.2M | $992K | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2466 | +0.241% | $65K | $282K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2467 | +0.287% | $301K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2458 | −0.096% | $56K | $588K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2459 | −0.060% | $93K | $666K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2458 | −0.096% | $6K | $27K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2459 | −0.071% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2465 | +0.186% | $9K | $765K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2460 | −0.035% | $338 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2458 | −0.100% | $1.3M | $5.8M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2459 | −0.056% | $47.9M | $6.3M | 50x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2459 | −0.061% | $535K | $1.8M | 50x | as long as short |
| Paradex ADA-USD-PERPlong | +0.0105% | 8h | 0.2460 | long leg | $21K | $250 | 20x | |
| Kalshi KXADAPERP | +0.0111% | 8h | 0.2459 | −0.056% | $146K | $6.3M | 3.2x | as long as short |
| Phoenix ADA | +0.0163% | 1h | 0.2470 | +0.371% | $4K | $87K | 10x | as long as short |
| Lighter ADA | +0.0200% | 1h | 0.2463 | +0.099% | $2.4M | $1.0M | 10x | as long as short |
| Reya ADARUSDPERP | +0.0281% | 1h | 0.2459 | −0.076% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0353% | 1h | 0.2460 | 0.000% | $6.2M | $12.1M | 50x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0360% | 1h | 0.2459 | −0.047% | $503K | $470K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0416% / S −0.0202% | 1h | 0.2457 | −0.127% | $95K | — | 100x | as long as short |
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
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
Extended ADA-USD
Kalshi KXADAPERP
Phoenix ADA
Lighter ADA
Reya ADARUSDPERP
Kraken Futures PF_ADAUSD
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]