Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0175%/8h= −19.2% APRpaid last 24h −0.058%

Price spread now: SunX against Reya+0.078%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on SunX

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 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. SunX is 0.078% dearer against Reya than usual: you sell high and buy low (spread +0.078% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ADARUSDPERP	0.2435	0.0275	pay 0.0034% / 1h	53m 59s	$1K	—	15x
Short	SunX ADA-USDT	0.2437	0.0100	get 0.0100% / 8h	1h 53m	$8K	$765K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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

Position, each leg$Hold fordaysFee ReyabpFee SunXbpOrdersPrice spread, now +0.078%Rate

Funding earned: −$36.74
Price spread: +0.078% → 0.000%: $7.83
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$42.91
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; SunX: live order book, 8 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 Reya no order-book sample	—	—	—	—	—
Sell SunX live order book, 8 min ago	20.81 bp	27.3 bp −$27	34.7 bp −$347	doesn't fit	doesn'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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXADAPERP	0.0000%	8h	0.2438	+0.122%	$192K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2436	+0.057%	$83K	—	150x	as long as short
Phoenix ADA	+0.0032%	1h	0.2439	+0.176%	$4K	$111K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.477%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2437	+0.081%	$6K	$6K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2438	+0.110%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2436	+0.056%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2438	+0.122%	$102.7M	$410.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2437	+0.081%	$72.0M	$124.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2437	+0.081%	$32.4M	$118.0M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2437	+0.081%	$99.6M	$64.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2437	+0.081%	$51.7M	$64.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2437	+0.089%	$29.4M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2436	+0.040%	$66.2M	$53.5M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2437	+0.081%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2437	+0.102%	$136K	$484K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2435	+0.002%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2445	+0.416%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2442	+0.281%	$287K	$4.0M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2436	+0.024%	$129K	$1.1M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2438	+0.118%	$40K	$4K	5x	as long as short
SunX ADA-USDTshort	+0.0100%	8h	0.2437	+0.078%	$8K	$765K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2439	+0.143%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2436	+0.020%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2437	+0.081%	$47.3M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2438	+0.116%	$511K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2436	+0.039%	$20K	$250	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2437	+0.081%	$376K	$8.6M	50x	as long as short
Lighter ADA	+0.0168%	1h	0.2439	+0.151%	$2.4M	$1.0M	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2439	+0.149%	$6.3M	$13.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2440	+0.204%	$4.4M	$5.8M	75x	as long as short
Reya ADARUSDPERPlong	+0.0275%	1h	0.2435	long leg	$1K	—	15x
Hyperliquid ADA	+0.0290%	1h	0.2439	+0.159%	$42.8M	$18.2M	10x	as long as short
dYdX ADA-USD	+0.0345%	1h	0.2435	−0.021%	$200K	$2K	10x	as long as short
ApeX Omni ADAUSDT	+0.0499%	1h	0.2443	+0.328%	$82K	$890K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0629% / S −0.0728%	1h	0.2436	+0.048%	$163K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0693%	1h	0.2440	+0.213%	$621K	$613K	50x	as long as short