Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.023%

Price spread now: Orderly against dYdX+0.139%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.139% dearer against dYdX than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2457	0	get 0.0000% / 1h	53m 27s	$202K	$4K	10x
Short	Orderly PERP_ADA_USDC	0.2460	0.0100	get 0.0100% / 8h	1h 53m	$6K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.139%Rate

Funding earned: $21
Price spread: +0.139% → 0.000%: $13.93
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $18.93
Costs to cover: 0.160%
Break-even: 0.7 days

Slippage unknown: dYdX: live order book, 31 min ago; Orderly: 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 dYdX live order book, 31 min ago	73.35 bp	78.3 bp −$78	133.7 bp −$1,337	142.6 bp −$14.3K	145.7 bp −$72.9K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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-USDlong	0.0000%	1h	0.2457	long leg	$202K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2465	+0.343%	$154K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2461	+0.176%	$478K	$351K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2461	+0.164%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2463	+0.261%	$409K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2460	+0.140%	$6.2M	$11.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2459	+0.086%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	−0.032%	$42.5M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2457	+0.035%	$1.2M	$998K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2457	+0.029%	$157K	$147K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2456	−0.026%	$101.8M	$355.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2455	−0.064%	$70.6M	$99.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2456	−0.023%	$31.8M	$105.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2455	−0.064%	$96.8M	$57.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2457	+0.017%	$52.9M	$50.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2457	+0.021%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	−0.064%	$65.6M	$42.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2456	−0.023%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2459	+0.111%	$101K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2460	+0.151%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2464	+0.285%	$66K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2464	+0.302%	$298K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2465	+0.343%	$56K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	−0.048%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDCshort	+0.0100%	8h	0.2460	+0.139%	$6K	$36K	20x
Derive ADA-PERP	+0.0100%	1h	0.2461	+0.176%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2463	+0.260%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2460	+0.160%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2460	+0.145%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2459	+0.099%	$48.0M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2457	+0.028%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2456	−0.019%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2454	−0.101%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2466	+0.384%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2455	−0.075%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−0.471%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2460	+0.126%	$122K	—	100x	as long as short