Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.024%

Price spread now: Variational Omni against dYdX+0.200%7-day average +0.015% · you sell dearer than you buy

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

Long on dYdX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.084%+$8 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.200%, 7d avg +0.015%

Together, before fees+0.057%+ Points / potential airdropVariational Omni: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Variational Omni is 0.185% dearer against dYdX than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2462	0	get 0.0000% / 1h	42m 20s	$203K	$2K	10x
Short	Variational Omni ADA	0.2467	0.0100	get 0.0100% / 8h	2h 42m	$4.3M	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.200%Rate

Funding earned: $21
Price spread: +0.200% → +0.015%: $18.45
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $29.45
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: dYdX: live order book, 7 min ago; Variational Omni: RFQ quote, 2 min ago. 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, 7 min ago	143.70 bp	148.7 bp −$149	148.7 bp −$1,487	148.7 bp −$14.9K	152.4 bp −$76.2K
Sell Variational Omni RFQ quote, 2 min ago	8.11 bp	doesn't fit	8.1 bp −$81	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	0.2462	long leg	$203K	$2K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2468	+0.238%	$151K	$7.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2460	−0.068%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0019%	1h	0.2462	+0.003%	$6.3M	$13.3M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2470	+0.315%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.360%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2464	+0.091%	$2.4M	$987K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2462	+0.002%	$43.8M	$16.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2461	−0.047%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2463	+0.034%	$158K	$170K	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	0.2462	−0.024%	$103.9M	$393.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2461	−0.047%	$73.0M	$117.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2463	+0.035%	$32.9M	$112.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2460	−0.087%	$99.6M	$62.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2460	−0.087%	$59.3M	$63.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2461	−0.059%	$29.6M	$15.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2461	−0.047%	$67.0M	$51.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2461	−0.047%	—	$19.9M	—	as long as short
Variational Omni ADAshort	+0.0100%	8h	0.2467	+0.200%	$4.3M	$1.1M	—
edgeX ADAUSDC	+0.0100%	4h	0.2470	+0.317%	$66K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2471	+0.360%	$289K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2470	+0.319%	$229K	$760K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2461	−0.063%	$94K	$635K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	−0.047%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2463	+0.034%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2462	−0.006%	$8K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2462	−0.006%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2466	+0.153%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2461	−0.047%	$48.0M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2463	+0.043%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2461	−0.031%	$534K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2467	+0.197%	$395K	$8.3M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0113%	1h	0.2462	−0.026%	$124K	$457K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2463	+0.035%	$4.5M	$5.8M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0237%	1h	0.2463	+0.047%	$606K	$542K	50x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2461	−0.064%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0585%	1h	0.2460	−0.080%	$139K	—	100x	as long as short