Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Phemex−0.123%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$720.719% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$7 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.123%, 7d avg +0.030%

Together, before fees+0.163%+$16 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: SunX is 0.153% cheaper against Phemex than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2448	0.0100	pay 0.0100% / 8h	15m 28s	$47.4M	$7.6M	50x
Short	SunX ADA-USDT	0.2445	0.0100	get 0.0100% / 8h	15m 28s	$8K	$755K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Phemex. 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 PhemexbpFee SunXbpOrdersPrice spread, now −0.123%Rate

Funding earned: $0
Price spread: −0.123% → +0.030%: −$15.25
Slippage, 4 orders: −$51.88
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$87.13
Costs to cover: 0.719%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; SunX: live order book, 36 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 Phemex live order book, 4 min ago	2.05 bp	8.0 bp −$8	11.8 bp −$118	37.3 bp −$3,732	doesn't fit
Sell SunX live order book, 36 min ago	10.25 bp	16.7 bp −$17	25.9 bp −$259	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
dYdX ADA-USD	0.0000%	1h	0.2448	+0.002%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2448	+0.017%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.940%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2451	+0.139%	$2.4M	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2448	0.000%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2450	+0.080%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	+0.094%	$157K	$180K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2449	+0.041%	$103.4M	$407.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2448	0.000%	$72.9M	$126.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2448	0.000%	$32.5M	$118.6M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2448	0.000%	$99.9M	$65.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2448	0.000%	$51.8M	$65.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	+0.016%	$29.6M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2447	−0.041%	$66.4M	$54.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2447	−0.041%	—	$20.2M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	+0.069%	$139K	$484K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	+0.005%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2446	−0.091%	$65K	$289K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.175%	$295K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2444	−0.163%	$76K	$894K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2447	−0.020%	$124K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2444	−0.166%	$40K	$4K	5x	as long as short
SunX ADA-USDTshort	+0.0100%	8h	0.2445	−0.123%	$8K	$755K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.061%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2449	+0.049%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2448	long leg	$47.4M	$7.6M	50x
Kalshi KXADAPERP	+0.0103%	8h	0.2450	+0.082%	$232K	$7.7M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	+0.038%	$503K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2449	+0.053%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0113%	1h	0.2450	+0.078%	$43.2M	$18.2M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2449	+0.041%	$377K	$8.4M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	−0.041%	$4.5M	$5.9M	75x	as long as short
Phoenix ADA	+0.0228%	1h	0.2443	−0.192%	$2K	$112K	10x	as long as short
Reya ADARUSDPERP	+0.0273%	1h	0.2447	−0.038%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0280%	1h	0.2449	+0.029%	$6.3M	$14.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0369% / S −0.0295%	1h	0.2448	+0.007%	$87K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0444%	1h	0.2450	+0.102%	$624K	$614K	50x	as long as short