ADA arbitrage explained
Right now Cardano (ADA) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $0.2533 and the highest bid on HTX perp at $0.2541.
The widest ADA perpetual spread is between Variational and HTX: long ADA on Variational at $0.2533 and short on HTX at $0.2541 for +0.31% gross, or +0.15% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ADA route is to buy spot on Gate and short the perpetual on HTX: +0.15% gross, -0.05% net, with +0.030% a day of funding on the short leg.
Spot–spot ADA arbitrage (buy on Gate, withdraw, deposit and sell on KuCoin) shows +0.04% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small ADA gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: ADA funding rates · ADA spread charts · Cardano price · arbitrage scanner for all coins.