Settings8H · net · $10k
Funding arb · Price arb /

ADA

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 05:00 UTC−0.0178%/8h= −19.4% APRnext payment $0.22 per $10,000 · paid last 24h −0.058%
Price spread now: ApeX Omni against Reya−0.119%63s7-day average · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)no history yet
Price spread, last 7 daysno price history on both exchanges yet
Together, before fees+ Points / potential airdropReya: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and ApeX Omni is 0.119% cheaper against Reya than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongReya ADARUSDPERP0.25110.0278pay 0.0035% / 1h48m 03s$1K15x
ShortApeX Omni ADAUSDT0.25080.0100get 0.0013% / 1h48m 03s$231K$749K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against Reya. 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

Funding earned
−$37.28
Price spread: −0.119% → 0.000%
−$11.93
Slippage, 4 orders
no order book: not counted
Fee Reya: 3 bp × 2 orders
−$6
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$65.21
Costs to cover
0.160%
Break-even
never at this rate
Slippage unknown: Reya: no order-book sample; ApeX Omni: live order book, 6 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Reya no order-book sample
Sell ApeX Omni live order book, 6 min ago7.98 bp13.9 bp −$1441.7 bp −$417doesn't fitdoesn't fit
Reya: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
dYdX ADA-USD0.0000%1h0.2508−0.136%$206K$2K10xas long as short
Kalshi KXADAPERP0.0000%8h0.2507−0.159%$173K$6.7M3.2xas long as short
gTrade (Gains Network) ADA/USDL +0.0005% / S −0.0003%1h0.2507−0.144%$86K150xas long as short
Kraken Futures PF_ADAUSD+0.0025%1h0.2508−0.133%$6.4M$12.9M50xas long as short
Injective ADA/USDC PERP+0.0033%1h0.2471−1.593%$849$202K12xas long as short
Coinbase International ADA-PERP-INTX+0.0080%1h0.2507−0.159%$429K$8.2M50xas long as short
Aster ADAUSDT+0.0100%8h0.2508−0.115%$1.2M$1.0M75xas long as short
Pacifica ADA+0.0100%1h0.2506−0.197%$161K$168K10xas long as short
Binance ADAUSDT+0.0100%8h0.2508−0.107%$106.4M$379.7M75xas long as short
Bybit ADAUSDT+0.0100%8h0.2507−0.159%$74.0M$111.1M75xas long as short
Show all 37 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ADA-USDT-SWAP+0.0100%8h0.2509−0.080%$33.5M$110.3M50xas long as short
Gate ADA_USDT+0.0100%8h0.2506−0.199%$102.2M$60.1M75xas long as short
MEXC ADA_USDT+0.0100%8h0.2507−0.159%$61.2M$60.8M300xas long as short
KuCoin ADAUSDTM+0.0100%8h0.2508−0.135%$30.2M$15.2M75xas long as short
Bitget ADAUSDT+0.0100%8h0.2508−0.119%$68.0M$50.7M75xas long as short
BingX ADA-USDT+0.0100%8h0.2508−0.119%$20.2Mas long as short
Variational Omni ADA+0.0100%8h0.2514+0.122%$4.4M$1.1Mas long as short
edgeX ADAUSDC+0.0100%4h0.2507−0.160%$67K$284K20xas long as short
GRVT ADA_USDT_Perp+0.0100%8h0.2506−0.210%$296K$3.9M10xas long as short
ApeX Omni ADAUSDTshort+0.0100%1h0.2508−0.119%$231K$749K50x
Polymarket Perps ADA-USD+0.0100%1h0.2512+0.028%$96K$698K10xas long as short
Orderly PERP_ADA_USDC+0.0100%8h0.2509−0.080%$6K$6K20xas long as short
Derive ADA-PERP+0.0100%1h0.2510−0.051%$41K$2K5xas long as short
SunX ADA-USDT+0.0100%8h0.2508−0.122%$9K$734K30xas long as short
SoDEX ADA-USD+0.0100%1h0.2507−0.139%$345$13K10xas long as short
HTX ADA-USDT+0.0100%8h0.2508−0.127%$1.4M$6.6M75xas long as short
Phemex ADAUSDT+0.0100%8h0.2508−0.119%$48.9M$6.6M50xas long as short
Extended ADA-USD+0.0104%1h0.2507−0.167%$543K$1.8M50xas long as short
Paradex ADA-USD-PERP+0.0115%8h0.2511+0.007%$21K$25020xas long as short
Lighter ADA+0.0128%1h0.2510−0.036%$2.5M$1.1M10xas long as short
Phoenix ADA+0.0161%1h0.2510−0.060%$4K$95K10xas long as short
BloFin ADA-USDT+0.0220%8h0.2499−0.478%$4.5M$5.9M75xas long as short
Reya ADARUSDPERPlong+0.0278%1h0.2511long leg$1K15x
Backpack ADA_USDC_PERP+0.0345%1h0.2508−0.115%$142K$460K15xas long as short
Deribit ADA_USDC-PERPETUAL+0.0508%1h0.2509−0.076%$622K$510K50xas long as short
Hyperliquid ADA+0.0543%1h0.2510−0.040%$44.9M$16.0M10xas long as short
GMX ADA/USD [WBTC.b-USDC]L +0.0601% / S −0.0547%1h0.2507−0.140%$135K100xas long as short