Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0173%/8h= +18.9% APRpaid last 24h +0.010%

Price spread now: GMX against BloFin+0.083%51s7-day average −0.032% · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now +0.083%, 7d avg −0.032%

Together, before fees−0.031%−$3 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 GMX is 0.115% dearer against BloFin than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.032%. The two prices were read 51 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	BloFin ADA-USDT	0.2452	0.0220	pay 0.0220% / 8h	7h 40m	$4.4M	$5.5M	75x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2454	L +0.0624% / S −0.0393%	get 0.0049% / 1h	40m 08s	$141K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.083%Rate

Funding earned: $36.29
Price spread: +0.083% → −0.032%: $11.51
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $23.8
Costs to cover: 0.240%
Break-even: 2.4 days

Slippage unknown: BloFin: 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 BloFin live order book, 4 min ago	2.04 bp	8.0 bp −$8	8.6 bp −$86	22.7 bp −$2,272	58.2 bp −$29.1K
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	0.2449	−0.108%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2453	+0.041%	$195K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	+0.062%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.775%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2449	−0.122%	$412K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2455	+0.112%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2457	+0.184%	$2.4M	$1.1M	10x	as long as short
Phoenix ADA	+0.0098%	1h	0.2450	−0.073%	$4K	$84K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2457	+0.212%	$42.7M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	+0.080%	$1.2M	$944K	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ADA	+0.0100%	1h	0.2451	−0.060%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	+0.111%	$101.6M	$364.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	+0.082%	$71.9M	$103.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2456	+0.163%	$32.4M	$106.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	+0.082%	$97.8M	$58.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	+0.082%	$52.7M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	+0.110%	$30.1M	$17.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	+0.122%	$66.0M	$43.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	+0.122%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2456	+0.171%	$111K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2451	−0.036%	$4.2M	$944K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	−0.077%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.040%	$296K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2446	−0.245%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2454	+0.069%	$93K	$644K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	+0.082%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.116%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	+0.122%	$9K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	+0.102%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2453	+0.027%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	+0.082%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2453	+0.050%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	+0.081%	$552K	$1.8M	50x	as long as short
BloFin ADA-USDTlong	+0.0220%	8h	0.2452	long leg	$4.4M	$5.5M	75x
Deribit ADA_USDC-PERPETUAL	+0.0239%	1h	0.2455	+0.139%	$492K	$434K	50x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2454	+0.083%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0624% / S −0.0393%	1h	0.2454	+0.083%	$141K	—	100x