Funding you earn now, next payment 23:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h +0.009%
Price spread now: Bybit against Phoenix+0.239%95s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.225%+$23 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Bybit is 0.239% dearer against Phoenix than usual: you sell high and buy low (spread +0.239% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 27 days. Mind the row above: over the last 7 days funding on this pair paid +0.225%, so the current rate has only just turned against you. The two prices were read 95 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 | Phoenix ADA | 0.2468 | 0.0130 | pay 0.0016% / 1h | 51m 48s | $4K | $78K | 10x |
| Short | Bybit ADAUSDT | 0.2474 | 0.0100 | get 0.0100% / 8h | 51m 48s | $72.1M | $102.7M | 75x |
Phoenix ADA
Bybit ADAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phoenix. 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
- −$6.28
- Price spread: +0.239% → 0.000%
- $23.91
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$0.37
- Costs to cover
- 0.180%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 2 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 2 min ago | 2.03 bp | 7.5 bp −$8 | 10.6 bp −$106 | 29.0 bp −$2,898 | 136.7 bp −$68.3K |
Phoenix: 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 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 | 0.2472 | +0.157% | $203K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2474 | +0.239% | $161K | $6.0M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2471 | +0.117% | $85K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2471 | +0.117% | $415K | $7.4M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2477 | +0.340% | $2.5M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2476 | +0.324% | $42.9M | $14.2M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2472 | +0.170% | $1.2M | $925K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2473 | +0.215% | $158K | $146K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2475 | +0.280% | $102.9M | $361.3M | 75x | as long as short |
| Bybit ADAUSDTshort | +0.0100% | 8h | 0.2474 | +0.239% | $72.1M | $102.7M | 75x |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2475 | +0.280% | $32.6M | $107.7M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2473 | +0.199% | $97.9M | $59.2M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2474 | +0.239% | $52.9M | $50.5M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2475 | +0.276% | $30.3M | $18.1M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2474 | +0.239% | $66.3M | $43.4M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2475 | +0.280% | — | $6.5M | — | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2464 | −0.159% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2468 | −0.001% | $66K | $280K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2468 | −0.004% | $288K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2464 | −0.166% | $56K | $581K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2473 | +0.182% | $97K | $626K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2471 | +0.117% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2472 | +0.160% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2475 | +0.278% | $9K | $760K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2472 | +0.178% | $340 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2471 | +0.136% | $1.3M | $5.3M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2472 | +0.158% | $48.3M | $5.9M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2473 | +0.206% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2475 | +0.260% | $561K | $1.8M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0112% | 1h | 0.2473 | +0.179% | $6.2M | $11.6M | 50x | as long as short |
| Phoenix ADAlong | +0.0130% | 1h | 0.2468 | long leg | $4K | $78K | 10x | |
| Backpack ADA_USDC_PERP | +0.0139% | 1h | 0.2473 | +0.190% | $109K | $418K | 15x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2471 | +0.117% | $4.4M | $5.5M | 75x | as long as short |
| Injective ADA/USDC PERP | +0.0254% | 1h | 0.2471 | +0.117% | $849 | $202K | 12x | as long as short |
| Reya ADARUSDPERP | +0.0284% | 1h | 0.2473 | +0.182% | $1K | — | 15x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0357% | 1h | 0.2472 | +0.162% | $489K | $404K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0568% / S −0.0313% | 1h | 0.2472 | +0.143% | $123K | — | 100x | as long as short |
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
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
Kraken Futures PF_ADAUSD
Backpack ADA_USDC_PERP
BloFin ADA-USDT
Injective ADA/USDC PERP
Reya ADARUSDPERP
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]