Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.023%

Price spread now: edgeX against dYdX−0.279%51s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$294as 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−$3133.126% of the position

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 4 days (all we have)+0.415%+$41 · spread now −0.279%, 7d avg +0.011%

Together, before fees+0.598%+ Points / potential airdropedgeX: Active · farm board+$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.289% cheaper against dYdX than usual: you would sell low and buy high (spread −0.279% now, against its 7-day average of +0.011%). If the spread goes back, that is −$29 on $10k: about 9.6 days of funding at the current rate (+$3 a day). 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	dYdX ADA-USD	0.2480	0	get 0.0000% / 1h	0m 47s	$204K	$2K	10x
Short	edgeX ADAUSDC	0.2473	0.0100	get 0.0050% / 4h	0m 47s	$66K	$285K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.279%Rate

Funding earned: $21
Price spread: −0.279% → +0.011%: −$28.92
Slippage, 4 orders: −$293.59
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$320.51
Costs to cover: 3.126%
Break-even: 113.8 days

Slippage from dYdX: live order book, 58 min ago; edgeX: live order book, 57 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, 58 min ago	140.67 bp	145.7 bp −$146	173.3 bp −$1,733	246.9 bp −$24.7K	486.9 bp −$243.4K
Sell edgeX live order book, 57 min ago	6.12 bp	10.6 bp −$11	26.1 bp −$261	doesn't fit	doesn't fit

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	0.2480	long leg	$204K	$2K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2480	+0.013%	$167K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2480	+0.015%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.350%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2481	+0.053%	$420K	$7.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0091%	1h	0.2480	+0.030%	$6.3M	$12.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2482	+0.114%	$2.5M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2481	+0.053%	$1.2M	$990K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2483	+0.131%	$161K	$160K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2483	+0.134%	$105.2M	$371.3M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2480	+0.013%	$72.4M	$108.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2482	+0.094%	$33.2M	$106.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2479	−0.027%	$99.1M	$59.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2480	+0.013%	$61.7M	$61.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2481	+0.045%	$30.0M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2480	+0.013%	$66.8M	$49.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2480	+0.013%	—	$20.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2482	+0.098%	$131K	$441K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2481	+0.056%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDCshort	+0.0100%	4h	0.2473	−0.279%	$66K	$285K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2473	−0.269%	$290K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2471	−0.350%	$228K	$748K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2482	+0.086%	$95K	$690K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2481	+0.053%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2481	+0.063%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2482	+0.093%	$9K	$729K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2480	+0.033%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2483	+0.131%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2483	+0.134%	$48.5M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2481	+0.046%	$537K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0111%	8h	0.2483	+0.142%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0195%	1h	0.2472	−0.318%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2482	+0.094%	$4.6M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0251%	1h	0.2483	+0.118%	$43.8M	$15.2M	10x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2481	+0.053%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0597% / S −0.0547%	1h	0.2479	−0.021%	$134K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0597%	1h	0.2482	+0.077%	$602K	$488K	50x	as long as short