Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against Backpack+0.073%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on Backpack Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$15 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.073% dearer against Backpack than usual: you sell high and buy low, +$7 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	Backpack ADA_USDC_PERP	0.2453	0.0100	pay 0.0013% / 1h	57m 28s	$125K	$448K	15x
Short	BingX ADA-USDT	0.2455	0.0100	get 0.0100% / 8h	4h 57m	—	$20.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Backpack. 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 BackpackbpFee BingXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → 0.000%: $7.34
Slippage, 4 orders: −$9.75
Fee Backpack: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$22.41
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; BingX: live order book, 11 min ago.

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 Backpack live order book, 1 min ago	0.81 bp	8.5 bp −$8	12.3 bp −$123	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	2.03 bp	8.1 bp −$8	10.8 bp −$108	15.4 bp −$1,544	24.7 bp −$12.4K

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	0.2448	−0.204%	$201K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2460	+0.277%	$140K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	+0.094%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.726%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2455	+0.073%	$408K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2454	+0.022%	$6.2M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2451	−0.102%	$2.4M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2457	+0.147%	$42.7M	$14.9M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2450	−0.150%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2449	−0.179%	$159K	$161K	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	0.2455	+0.092%	$103.6M	$372.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2455	+0.073%	$71.6M	$111.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	+0.155%	$32.6M	$106.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2453	−0.008%	$98.4M	$58.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	+0.033%	$61.2M	$59.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	+0.061%	$29.6M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	+0.073%	$66.0M	$50.2M	75x	as long as short
BingX ADA-USDTshort	+0.0100%	8h	0.2455	+0.073%	—	$20.0M	—
Backpack ADA_USDC_PERPlong	+0.0100%	1h	0.2453	long leg	$125K	$448K	15x
Variational Omni ADA	+0.0100%	8h	0.2454	+0.032%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2455	+0.078%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.002%	$293K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2456	+0.114%	$226K	$739K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.082%	$91K	$683K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.114%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	+0.097%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2458	+0.196%	$8K	$742K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	+0.053%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	+0.040%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	+0.033%	$47.8M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	−0.174%	$531K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2448	−0.209%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	+0.114%	$4K	$89K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2455	+0.073%	$4.5M	$5.7M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2455	+0.074%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0320%	1h	0.2456	+0.102%	$586K	$485K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0547% / S −0.0339%	1h	0.2456	+0.097%	$121K	—	100x	as long as short