Funding you earn now, next payment 04:00 UTC−0.0136%/8h= −14.8% APRnext payment −$0.17 per $10,000 · paid last 24h +0.018%
Price spread now: Kraken Futures against Phoenix−0.299%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.227%+$23 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Kraken Futures is 0.299% cheaper against Phoenix than usual: you would sell low and buy high (−$30 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.227%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ADA | 0.2492 | 0.0161 | pay 0.0020% / 1h | 23m 11s | $4K | $95K | 10x |
| Short | Kraken Futures PF_ADAUSD | 0.2485 | 0.0026 | get 0.0003% / 1h | 23m 11s | $6.4M | $13.0M | 50x |
Phoenix ADA
Kraken Futures PF_ADAUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$28.46
- Price spread: −0.299% → 0.000%
- −$29.87
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$75.33
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Kraken Futures: live order book, 1 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 Kraken Futures live order book, 1 min ago | 3.22 bp | 13.6 bp −$14 | 21.8 bp −$218 | 55.3 bp −$5,534 | doesn't fit |
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 | 0.2485 | −0.277% | $204K | $2K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2487 | −0.213% | $144K | $6.8M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2486 | −0.239% | $85K | — | 150x | as long as short |
| Kraken Futures PF_ADAUSDshort | +0.0026% | 1h | 0.2485 | −0.299% | $6.4M | $13.0M | 50x | |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | −0.855% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0080% | 1h | 0.2488 | −0.173% | $386K | $8.2M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2487 | −0.213% | $2.5M | $1.1M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2483 | −0.364% | $1.2M | $1.0M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2487 | −0.204% | $160K | $169K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2482 | −0.419% | $105.8M | $384.6M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTX
Lighter ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2481 | −0.453% | $74.8M | $114.3M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2482 | −0.413% | $33.3M | $110.6M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2482 | −0.413% | $100.5M | $61.8M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2482 | −0.413% | $60.2M | $62.2M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2486 | −0.265% | $29.8M | $15.3M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2483 | −0.373% | $67.5M | $51.4M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2483 | −0.373% | — | $19.8M | — | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2486 | −0.251% | $4.3M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2491 | −0.059% | $66K | $284K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2486 | −0.253% | $301K | $4.0M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2490 | −0.092% | $230K | $754K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2486 | −0.245% | $94K | $627K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2486 | −0.253% | $6K | $6K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2487 | −0.228% | $40K | $2K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2486 | −0.255% | $8K | $738K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2485 | −0.273% | $342 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2486 | −0.234% | $1.3M | $6.7M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2483 | −0.373% | $48.4M | $6.9M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0101% | 8h | 0.2487 | −0.202% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2485 | −0.281% | $540K | $1.8M | 50x | as long as short |
| Phoenix ADAlong | +0.0161% | 1h | 0.2492 | long leg | $4K | $95K | 10x | |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2483 | −0.373% | $4.6M | $5.8M | 75x | as long as short |
| Backpack ADA_USDC_PERP | +0.0238% | 1h | 0.2484 | −0.333% | $136K | $463K | 15x | as long as short |
| Reya ADARUSDPERP | +0.0277% | 1h | 0.2486 | −0.234% | $1K | — | 15x | as long as short |
| Hyperliquid ADA | +0.0412% | 1h | 0.2484 | −0.333% | $44.5M | $16.1M | 10x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0474% | 1h | 0.2488 | −0.185% | $612K | $533K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0614% / S −0.0569% | 1h | 0.2486 | −0.256% | $138K | — | 100x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
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
Paradex ADA-USD-PERP
Extended ADA-USD
BloFin ADA-USDT
Backpack ADA_USDC_PERP
Reya ADARUSDPERP
Hyperliquid ADA
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]