Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h −0.005%

Price spread now: Injective against BingX+1.270%7-day average −0.338% · you sell dearer than you buy

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 3 days (all we have)−2.344%−$234 · spread now +1.270%, 7d avg −0.338%

Together, before fees−2.408%−$241 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 1.608% dearer against BingX than usual: you sell high and buy low: +$161 more if the spread goes back to its 7-day average of −0.338%. Mind the row above: over the last 7 days funding on this pair cost −0.064%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ADA-USDT	0.2440	0.0100	pay 0.0100% / 8h	11m 00s	—	$21.3M	—
Short	Injective ADA/USDC PERP	0.2471	0.0254	get 0.0032% / 1h	11m 00s	$849	$202K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now +1.270%Rate

Funding earned: $32.35
Price spread: +1.270% → −0.338%: $160.8
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $183.13
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 2 min ago; Injective: 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 BingX live order book, 2 min ago	4.10 bp	9.1 bp −$9	11.2 bp −$112	15.7 bp −$1,567	29.9 bp −$15.0K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	0.2440	−0.005%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2440	0.000%	$201K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2440	−0.017%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2440	0.000%	$406K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2441	+0.049%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2441	+0.044%	$42.3M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2439	−0.028%	$1.2M	$930K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2441	+0.025%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2442	+0.074%	$101.1M	$366.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2442	+0.082%	$71.0M	$104.1M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2444	+0.164%	$32.2M	$107.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2439	−0.041%	$97.3M	$60.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2443	+0.123%	$52.2M	$51.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2440	−0.012%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2442	+0.082%	$65.7M	$43.7M	75x	as long as short
BingX ADA-USDTlong	+0.0100%	8h	0.2440	long leg	—	$21.3M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2440	+0.020%	$105K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2439	−0.035%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2441	+0.052%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2441	+0.038%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2441	+0.041%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2439	−0.025%	$94K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2439	−0.041%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2440	−0.006%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2440	+0.001%	$9K	$767K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2440	+0.012%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2440	−0.012%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2440	0.000%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2442	+0.064%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2443	+0.104%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2440	−0.010%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2442	+0.102%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2441	+0.041%	$4.3M	$5.5M	75x	as long as short
Injective ADA/USDC PERPshort	+0.0254%	1h	0.2471	+1.270%	$849	$202K	12x
Reya ADARUSDPERP	+0.0283%	1h	0.2440	−0.018%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0324%	1h	0.2441	+0.033%	$490K	$430K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2439	−0.038%	$121K	—	100x	as long as short