Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Orderly against Variational Omni+0.116%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Orderly

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 airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.116% dearer against Variational Omni than usual: you sell high and buy low, +$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ADA	0.2450	0.0100	pay 0.0100% / 8h	7h 57m	$4.2M	$972K	—
Short	Orderly PERP_ADA_USDC	0.2453	0.0100	get 0.0100% / 8h	7h 57m	$6K	$29K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Variational Omni. 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 Variational OmnibpFee OrderlybpOrdersPrice spread, now +0.116%Rate

Funding earned: $0
Price spread: +0.116% → 0.000%: $11.55
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $5.55
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Orderly: no order-book sample. 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 Variational Omni RFQ quote, 2 min ago	6.12 bp	doesn't fit	10.2 bp −$102	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	0.2451	+0.014%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2455	+0.197%	$195K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	+0.139%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.850%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2447	−0.129%	$406K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2453	+0.112%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2455	+0.177%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2454	+0.148%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	+0.174%	$1.2M	$934K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2451	+0.033%	$157K	$145K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2453	+0.121%	$101.5M	$366.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2452	+0.075%	$71.5M	$104.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2452	+0.075%	$32.4M	$107.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2453	+0.116%	$97.9M	$57.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	+0.116%	$53.5M	$50.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	+0.136%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2453	+0.116%	$65.9M	$43.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2453	+0.116%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2454	+0.148%	$108K	$420K	15x	as long as short
Variational Omni ADAlong	+0.0100%	8h	0.2450	long leg	$4.2M	$972K	—
edgeX ADAUSDC	+0.0100%	4h	0.2451	+0.039%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.075%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.116%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2451	+0.046%	$94K	$642K	10x	as long as short
Orderly PERP_ADA_USDCshort	+0.0100%	8h	0.2453	+0.116%	$6K	$29K	20x
Derive ADA-PERP	+0.0100%	1h	0.2454	+0.156%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2451	+0.033%	$9K	$768K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2453	+0.116%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	+0.143%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2453	+0.116%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2452	+0.059%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	+0.117%	$553K	$1.8M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2450	+0.005%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.279%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2452	+0.078%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0361%	1h	0.2455	+0.177%	$493K	$429K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2454	+0.160%	$122K	—	100x	as long as short