ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0072%/8h= +7.8% APRnext payment +$0.09 per $10,000 · paid last 24h −0.009%

Price spread now: Coinbase International against Phoenix+0.066%72s7-day average −0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as 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−$450.450% of the position

Long on Phoenix Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now +0.066%, 7d avg −0.070%

Together, before fees+0.180%+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.135% dearer against Phoenix than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.070%. The two prices were read 72 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	0.2441	0.0032	pay 0.0004% / 1h	14m 08s	$4K	$105K	10x
Short	Coinbase International ADA-PERP-INTX	0.2443	0.0104	get 0.0013% / 1h	14m 08s	$375K	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. 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 PhoenixbpFee Coinbase InternationalbpOrdersPrice spread, now +0.066%Rate

Funding earned: $15.03
Price spread: +0.066% → −0.070%: $13.54
Slippage, 4 orders: −$27.99
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$16.42
Costs to cover: 0.450%
Break-even: 14.6 days

Slippage from Phoenix: live order book, 39 min ago; Coinbase International: live order book, 5 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 Phoenix live order book, 39 min ago	0.81 bp	13.0 bp −$13	52.4 bp −$524	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	4.10 bp	9.1 bp −$9	16.3 bp −$163	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	0.2443	+0.066%	$186K	$7.5M	3.2x	as long as short
dYdX ADA-USD	+0.0002%	1h	0.2443	+0.080%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2440	−0.041%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2443	+0.067%	$6.3M	$13.7M	50x	as long as short
Phoenix ADAlong	+0.0032%	1h	0.2441	long leg	$4K	$105K	10x
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.212%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2444	+0.123%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2445	+0.160%	$42.8M	$18.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2444	+0.096%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2445	+0.154%	$157K	$176K	10x	as long as short

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	+0.125%	$102.9M	$408.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2443	+0.066%	$71.8M	$124.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2445	+0.147%	$32.4M	$117.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2443	+0.066%	$99.1M	$65.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2443	+0.066%	$52.4M	$65.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2444	+0.102%	$29.3M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2444	+0.106%	$66.4M	$53.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2444	+0.106%	—	$20.2M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2444	+0.098%	$131K	$480K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2440	−0.053%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2439	−0.079%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2438	−0.139%	$286K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2441	−0.016%	$84K	$888K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2441	−0.033%	$119K	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2441	−0.016%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2442	+0.038%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2444	+0.104%	$8K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2443	+0.066%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2443	+0.084%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2442	+0.025%	$47.4M	$7.4M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2446	+0.177%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2442	+0.039%	$521K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0104%	1h	0.2443	+0.066%	$375K	$8.5M	50x
BloFin ADA-USDT	+0.0220%	8h	0.2445	+0.147%	$4.4M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2440	−0.056%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0610%	1h	0.2443	+0.078%	$613K	$602K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2440	−0.053%	$164K	—	100x	as long as short