Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against ApeX Omni−0.077%103s7-day average −0.026% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.077%, 7d avg −0.026%

Together, before fees−0.019%+ Points / potential airdropVariational Omni: Active · farm board−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.051% cheaper against ApeX Omni than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.026%. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ADAUSDT	0.2454	0.0100	pay 0.0013% / 1h	31m 46s	$56K	$589K	50x
Short	Variational Omni ADA	0.2452	0.0100	get 0.0100% / 8h	6h 31m	$4.2M	$991K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.077%Rate

Funding earned: $0
Price spread: −0.077% → −0.026%: −$5.08
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$15.08
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 36 min ago; Variational Omni: RFQ quote, 2 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 ApeX Omni live order book, 36 min ago	4.04 bp	12.9 bp −$13	37.1 bp −$371	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	8.14 bp	doesn't fit	8.1 bp −$81	doesn't fit	doesn't fit

ADA on 36 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	0.2459	+0.184%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2456	+0.065%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.693%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2458	+0.163%	$400K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2454	+0.008%	$42.8M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2456	+0.078%	$1.2M	$973K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2458	+0.158%	$159K	$158K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2454	−0.020%	$102.5M	$375.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2451	−0.122%	$72.0M	$109.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	−0.041%	$32.6M	$107.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2453	−0.041%	$97.7M	$59.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	−0.041%	$49.4M	$51.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	+0.020%	$29.9M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2453	−0.041%	$65.6M	$46.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2454	0.000%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2456	+0.065%	$125K	$423K	15x	as long as short
Variational Omni ADAshort	+0.0100%	8h	0.2452	−0.077%	$4.2M	$991K	—
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.026%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.037%	$290K	$3.8M	10x	as long as short
ApeX Omni ADAUSDTlong	+0.0100%	1h	0.2454	long leg	$56K	$589K	50x
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	+0.228%	$92K	$665K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.081%	$6K	$27K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2457	+0.130%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	−0.084%	$9K	$771K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	+0.102%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	+0.093%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2455	+0.041%	$47.8M	$6.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	+0.014%	$532K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2458	+0.170%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0112%	8h	0.2453	−0.041%	$148K	$6.3M	3.2x	as long as short
Lighter ADA	+0.0160%	1h	0.2455	+0.020%	$2.4M	$1.0M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	+0.130%	$4K	$87K	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2460	+0.225%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2456	+0.062%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2456	+0.075%	$95K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4755%	1h	0.2517	+2.563%	$515K	$472K	50x	as long as short