Funding you earn now, next payment 05:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h −0.003%
Price spread now: OKX against Phoenix−0.176%7-day average −0.045% · you buy dearer than you sell
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$400.401% of the position
Funding, last 7 days+0.181%+$18 on $10k
+Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.176%, 7d avg −0.045%
=Funding pays, the price is against you. OKX is 0.131% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.176% now, against its 7-day average of −0.045%). If the spread goes back, that is −$13 on $10k: about 6.5 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ADA | 0.2439 | 0.0032 | pay 0.0004% / 1h | 54m 55s | $4K | $111K | 10x |
| Short | OKX ADA-USDT-SWAP | 0.2435 | 0.0100 | get 0.0100% / 8h | 1h 54m | $32.3M | $117.9M | 50x |
Phoenix ADA
OKX ADA-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $14.19
- Price spread: −0.176% → −0.045%
- −$13.08
- Slippage, 4 orders
- −$23.1
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$38.99
- Costs to cover
- 0.401%
- Break-even
- 26.2 days
Slippage from Phoenix: live order book, 58 min ago; OKX: live order book, 4 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, 58 min ago | 0.81 bp | 13.0 bp −$13 | 52.4 bp −$524 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 2.04 bp | 7.0 bp −$7 | 10.8 bp −$108 | 33.0 bp −$3,295 | 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 | 0.2438 | −0.053% | $185K | $7.6M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2436 | −0.155% | $83K | — | 150x | as long as short |
| Phoenix ADAlong | +0.0032% | 1h | 0.2439 | long leg | $4K | $111K | 10x | |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +1.300% | $849 | $202K | 12x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2436 | −0.135% | $6K | $6K | 20x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2437 | −0.101% | $1.2M | $1.1M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2437 | −0.083% | $156K | $178K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2436 | −0.135% | $102.6M | $410.7M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2435 | −0.176% | $71.9M | $124.9M | 75x | as long as short |
| OKX ADA-USDT-SWAPshort | +0.0100% | 8h | 0.2435 | −0.176% | $32.3M | $117.9M | 50x |
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Orderly PERP_ADA_USDC
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ADA_USDT | +0.0100% | 8h | 0.2435 | −0.176% | $99.5M | $64.0M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2436 | −0.135% | $51.6M | $64.4M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2437 | −0.107% | $29.2M | $15.8M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2436 | −0.135% | $66.2M | $53.5M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2435 | −0.176% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2438 | −0.053% | $136K | $484K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2435 | −0.173% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2445 | +0.240% | $65K | $285K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2442 | +0.106% | $287K | $4.0M | 10x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2435 | −0.164% | $129K | $1.1M | 10x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2437 | −0.096% | $40K | $4K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2437 | −0.097% | $8K | $765K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2437 | −0.082% | $335 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2437 | −0.101% | $1.3M | $7.0M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2438 | −0.053% | $47.3M | $7.4M | 50x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2436 | −0.141% | $511K | $1.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0105% | 8h | 0.2438 | −0.060% | $20K | $250 | 20x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0120% | 1h | 0.2437 | −0.094% | $376K | $8.6M | 50x | as long as short |
| Lighter ADA | +0.0136% | 1h | 0.2438 | −0.045% | $2.4M | $1.0M | 10x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0171% | 1h | 0.2437 | −0.084% | $6.3M | $13.8M | 50x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2440 | +0.029% | $4.4M | $5.8M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0275% | 1h | 0.2436 | −0.134% | $1K | — | 15x | as long as short |
| Hyperliquid ADA | +0.0286% | 1h | 0.2440 | +0.008% | $42.8M | $18.3M | 10x | as long as short |
| dYdX ADA-USD | +0.0431% | 1h | 0.2436 | −0.135% | $200K | $2K | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0499% | 1h | 0.2443 | +0.152% | $82K | $890K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0629% / S −0.0728% | 1h | 0.2435 | −0.177% | $163K | — | 100x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0653% | 1h | 0.2438 | −0.057% | $620K | $613K | 50x | as long as short |
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
Polymarket Perps ADA-USD
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Extended ADA-USD
Paradex ADA-USD-PERP
Coinbase International ADA-PERP-INTX
Lighter ADA
Kraken Futures PF_ADAUSD
BloFin ADA-USDT
Reya ADARUSDPERP
Hyperliquid ADA
dYdX ADA-USD
ApeX Omni ADAUSDT
GMX ADA/USD [WBTC.b-USDC]
Deribit ADA_USDC-PERPETUAL