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: BingX against dYdX0.000%49s7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$333as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3473.469% of the position

Long on dYdX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.139%+$14 on $10k

Price spread, last 4 days (all we have)−0.095%−$9 · spread now 0.000%, 7d avg +0.014%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 49 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	dYdX ADA-USD	0.2450	0	get 0.0000% / 1h	52m 55s	$202K	$4K	10x
Short	BingX ADA-USDC	0.2450	0.0100	get 0.0100% / 8h	2h 52m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $21
Price spread: 0.000% → +0.014%: −$1.37
Slippage, 4 orders: −$326.95
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$327.32
Costs to cover: 3.469%
Break-even: 116.1 days

Slippage from dYdX: live order book, 36 min ago; BingX: live order book, 14 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, 36 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 BingX live order book, 14 min ago	2.03 bp	12.5 bp −$12	19.2 bp −$192	72.0 bp −$7,195	606.3 bp −$303.2K

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	0.2450	long leg	$202K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2452	+0.082%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	+0.155%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2448	−0.082%	$380K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2454	+0.155%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2453	+0.114%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	+0.116%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	−0.002%	$157K	$148K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2450	+0.002%	$101.0M	$356.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2449	−0.041%	$70.7M	$100.2M	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	0.2452	+0.082%	$32.2M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2450	0.000%	$97.1M	$57.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2450	0.000%	$52.8M	$56.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2452	+0.090%	$30.6M	$18.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2451	+0.041%	$65.4M	$42.8M	75x	as long as short
BingX ADA-USDCshort	+0.0100%	8h	0.2450	0.000%	—	$6.5M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2453	+0.110%	$104K	$421K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	+0.142%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2457	+0.304%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.322%	$296K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2452	+0.082%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.196%	$97K	$701K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2452	+0.082%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	+0.140%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.162%	$9K	$761K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	+0.102%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	+0.171%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2453	+0.122%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2456	+0.226%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2451	+0.051%	$560K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2454	+0.143%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2451	+0.041%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2454	+0.182%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2452	+0.092%	$6.1M	$11.6M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0361%	1h	0.2454	+0.180%	$477K	$358K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0521% / S −0.0277%	1h	0.2453	+0.124%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.286%	$844	$95K	12x	as long as short