Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0177%/8h= +19.3% APRpaid last 24h +0.043%

Price spread now: GMX against Binance−0.017%7-day average −0.004% · you buy dearer than you sell

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.135%+$14 on $10k

Price spread, last 3 days (all we have)+0.701%+$70 · spread now −0.017%, 7d avg −0.004%

Together, before fees+0.837%+$84 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ADAUSDT	0.2450	0.0100	pay 0.0100% / 8h	2h 54m	$101.0M	$355.9M	75x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2449	L +0.0520% / S −0.0277%	get 0.0035% / 1h	54m 10s	$113K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.017%Rate

Funding earned: $37.09
Price spread: −0.017% → −0.004%: −$1.28
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $13.81
Costs to cover: 0.220%
Break-even: 4.4 days

Slippage unknown: Binance: live order book, 4 min ago; GMX: 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 Binance live order book, 4 min ago	2.04 bp	7.0 bp −$7	9.7 bp −$97	28.3 bp −$2,834	101.2 bp −$50.6K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	0.2452	+0.086%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2451	+0.045%	$153K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2450	−0.008%	$476K	$358K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	−0.045%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2448	−0.077%	$380K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	+0.066%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	−0.012%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2448	−0.085%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	+0.119%	$157K	$148K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2450	long leg	$101.0M	$355.9M	75x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2448	−0.077%	$70.7M	$100.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	−0.036%	$32.2M	$105.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2448	−0.077%	$97.0M	$57.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	−0.036%	$52.8M	$56.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2449	−0.024%	$30.6M	$18.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2449	−0.036%	$65.4M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2449	−0.036%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2449	−0.032%	$104K	$421K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	+0.147%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.186%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	+0.139%	$295K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2452	+0.086%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2447	−0.110%	$96K	$701K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2449	−0.036%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2450	−0.007%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	−0.078%	$9K	$761K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2449	−0.036%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2447	−0.115%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2449	−0.036%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2450	0.000%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	−0.046%	$563K	$1.8M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2454	+0.147%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.290%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2447	−0.099%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2450	−0.015%	$6.1M	$11.6M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0520% / S −0.0277%	1h	0.2449	−0.017%	$113K	—	100x
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.290%	$844	$95K	12x	as long as short