Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0170%/8h= −18.6% APRpaid last 24h −0.056%

Price spread now: Variational Omni against Reya+0.024%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.024% dearer against Reya than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ADARUSDPERP	0.2481	0.0270	pay 0.0034% / 1h	18m 30s	$1K	—	15x
Short	Variational Omni ADA	0.2482	0.0100	get 0.0100% / 8h	6h 18m	$4.2M	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational 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

Position, each leg$Hold fordaysFee ReyabpFee Variational OmnibpOrdersPrice spread, now +0.024%Rate

Funding earned: −$35.72
Price spread: +0.024% → 0.000%: $2.45
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$39.27
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 4 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 Variational Omni RFQ quote, 4 min ago	8.05 bp	doesn't fit	12.1 bp −$121	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 36 exchanges

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	0.2479	−0.081%	$207K	$5K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2480	−0.056%	$210K	$7.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2478	−0.124%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.418%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2481	−0.028%	$2.4M	$959K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2482	+0.013%	$1.2M	$1.3M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2480	−0.065%	$159K	$157K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2483	+0.054%	$106.5M	$393.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2481	−0.015%	$74.3M	$124.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2482	+0.025%	$32.9M	$111.8M	50x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2480	−0.056%	$102.2M	$61.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2482	+0.025%	$49.6M	$71.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2481	+0.001%	$29.8M	$15.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2482	+0.025%	$67.9M	$51.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2481	−0.015%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2479	−0.096%	$139K	$459K	15x	as long as short
Variational Omni ADAshort	+0.0100%	8h	0.2482	+0.024%	$4.2M	$1.1M	—
edgeX ADAUSDC	+0.0100%	4h	0.2486	+0.184%	$66K	$290K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2485	+0.162%	$297K	$3.6M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2486	+0.186%	$72K	$899K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2482	+0.009%	$119K	$1.3M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2479	−0.096%	$6K	$4K	20x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2481	−0.017%	$8K	$701K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2479	−0.092%	$341	$6K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2479	−0.095%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2479	−0.096%	$47.9M	$7.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2480	−0.065%	$20K	$589	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2481	−0.025%	$547K	$1.7M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2483	+0.065%	$411K	$8.5M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0147%	1h	0.2479	−0.106%	$6.3M	$13.6M	50x	as long as short
Phoenix ADA	+0.0192%	1h	0.2485	+0.146%	$3K	$107K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2481	−0.015%	$4.6M	$5.6M	75x	as long as short
Reya ADARUSDPERPlong	+0.0270%	1h	0.2481	long leg	$1K	—	15x
Hyperliquid ADA	+0.0318%	1h	0.2484	+0.117%	$44.3M	$17.8M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0370% / S −0.0295%	1h	0.2479	−0.102%	$88K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0396%	1h	0.2480	−0.064%	$620K	$757K	50x	as long as short