Funding you earn now, next payment 00:00 UTC−2.4419%/8h= −2673.9% APRnext payment −$30.52 per $10,000 · paid last 24h +0.045%
Price spread now: GMX against Deribit−2.456%7-day average −0.023% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.085%+$9 on $10k
+Price spread, last 3 days (all we have)+2.506%+$251 · spread now −2.456%, 7d avg −0.023%
=Both sides work against this trade now: funding costs −$733 a day on $10k at the current rate, and GMX is 2.433% cheaper against Deribit than usual: you would sell low and buy high (−$243 if the spread goes back to its 7-day average of −0.023%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.085%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.085% in total (about 9.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$30.52 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ADA_USDC-PERPETUAL | 0.2503 | 2.4732 | pay 0.3091% / 1h | 28m 16s | $503K | $430K | 50x |
| Short | GMX ADA/USD [WBTC.b-USDC] | 0.2441 | L +0.0563% / S −0.0313% | get 0.0039% / 1h | 28m 16s | $121K | — | 100x |
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$5,128.07
- Price spread: −2.456% → −0.023%
- −$243.32
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$5,390.39
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Deribit: live order book, 50 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 Deribit live order book, 50 min ago | 2.85 bp | 9.6 bp −$10 | 16.0 bp −$160 | doesn't fit | doesn't fit |
| 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 | 0.2443 | −2.394% | $201K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2444 | −2.349% | $186K | $6.1M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2442 | −2.447% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2441 | −2.469% | $402K | $7.3M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2443 | −2.385% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2442 | −2.421% | $42.3M | $14.3M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2442 | −2.443% | $1.2M | $928K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2442 | −2.419% | $157K | $145K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2442 | −2.429% | $101.5M | $363.1M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2442 | −2.429% | $71.1M | $103.2M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2442 | −2.429% | $32.2M | $106.6M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2441 | −2.469% | $96.8M | $59.8M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2441 | −2.469% | $52.6M | $50.9M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2442 | −2.429% | $29.9M | $18.0M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2442 | −2.429% | $65.6M | $43.4M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2443 | −2.389% | — | $18.1M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2444 | −2.337% | $108K | $416K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2449 | −2.141% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2453 | −1.996% | $65K | $282K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2449 | −2.148% | $292K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2454 | −1.950% | $56K | $582K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2441 | −2.457% | $92K | $634K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2441 | −2.469% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2442 | −2.432% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2442 | −2.431% | $9K | $764K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2442 | −2.449% | $336 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2442 | −2.430% | $1.3M | $5.4M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2442 | −2.429% | $47.7M | $5.9M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2442 | −2.427% | $20K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2441 | −2.467% | $554K | $1.8M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0114% | 1h | 0.2442 | −2.443% | $6.1M | $11.7M | 50x | as long as short |
| Phoenix ADA | +0.0130% | 1h | 0.2452 | −2.014% | $4K | $78K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2444 | −2.349% | $4.4M | $5.5M | 75x | as long as short |
| Injective ADA/USDC PERP | +0.0254% | 1h | 0.2471 | −1.271% | $849 | $202K | 12x | as long as short |
| Reya ADARUSDPERP | +0.0284% | 1h | 0.2441 | −2.464% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC]short | L +0.0563% / S −0.0313% | 1h | 0.2441 | −2.456% | $121K | — | 100x | |
| Deribit ADA_USDC-PERPETUALlong | +2.4732% | 1h | 0.2503 | long leg | $503K | $430K | 50x |
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Kraken Futures PF_ADAUSD
Phoenix ADA
BloFin ADA-USDT
Injective ADA/USDC PERP
Reya ADARUSDPERP