Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.023%

Price spread now: Binance against dYdX−0.086%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$324as in the Funding arb table

Net, price: spread back to 7d avg − costs−$345as in the Price arb table

costs, in and out, $10k−$3343.338% of the position

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 4 days (all we have)+0.174%+$17 · spread now −0.086%, 7d avg +0.030%

Together, before fees+0.269%+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.116% cheaper against dYdX than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of +0.030%). If the spread goes back, that is −$12 on $10k: about 3.9 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.096% in total) that is about 8.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2452	0	get 0.0000% / 1h	54m 05s	$202K	$4K	10x
Short	Binance ADAUSDT	0.2450	0.0100	get 0.0100% / 8h	2h 54m	$101.0M	$355.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now −0.086%Rate

Funding earned: $21
Price spread: −0.086% → +0.030%: −$11.64
Slippage, 4 orders: −$313.79
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$324.43
Costs to cover: 3.338%
Break-even: 115.1 days

Slippage from dYdX: live order book, 35 min ago; Binance: live order book, 5 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 dYdX live order book, 35 min ago	145.63 bp	150.6 bp −$151	150.6 bp −$1,506	157.6 bp −$15.8K	378.4 bp −$189.2K
Sell Binance live order book, 5 min ago	2.04 bp	7.0 bp −$7	9.5 bp −$95	24.7 bp −$2,473	76.1 bp −$38.1K

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-USDlong	0.0000%	1h	0.2452	long leg	$202K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2451	−0.041%	$153K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2450	−0.094%	$476K	$358K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	−0.131%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2448	−0.163%	$380K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	−0.020%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	−0.098%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2448	−0.172%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	+0.033%	$157K	$148K	10x	as long as short
Binance ADAUSDTshort	+0.0100%	8h	0.2450	−0.086%	$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	−0.163%	$70.7M	$100.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	−0.122%	$32.2M	$105.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2448	−0.163%	$97.0M	$57.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	−0.122%	$52.8M	$56.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2449	−0.110%	$30.6M	$18.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2449	−0.122%	$65.4M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2449	−0.122%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2449	−0.118%	$104K	$421K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	+0.061%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.099%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	+0.053%	$295K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2452	0.000%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2447	−0.196%	$96K	$701K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2449	−0.122%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2450	−0.093%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	−0.164%	$9K	$761K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2449	−0.122%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2447	−0.201%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2449	−0.122%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2450	−0.087%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	−0.133%	$563K	$1.8M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2454	+0.061%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.204%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2447	−0.185%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2450	−0.101%	$6.1M	$11.6M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0520% / S −0.0277%	1h	0.2449	−0.103%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.204%	$844	$95K	12x	as long as short