Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against edgeX+0.534%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs+$5as in the Price arb table

costs, in and out, $10k−$470.472% of the position

Long on edgeX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 3 days (all we have)−0.655%−$66 · spread now +0.534%, 7d avg +0.008%

Together, before fees−0.699%+ Points / potential airdropedgeX: Active · farm board−$70 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.526% dearer against edgeX than usual: you sell high and buy low, +$53 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ADAUSDC	0.2450	0.0100	pay 0.0050% / 4h	1h 55m	$65K	$278K	20x
Short	BingX ADA-USDC	0.2463	0.0100	get 0.0100% / 8h	1h 55m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against edgeX. 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 edgeXbpFee BingXbpOrdersPrice spread, now +0.534%Rate

Funding earned: $0
Price spread: +0.534% → +0.008%: $52.61
Slippage, 4 orders: −$28.21
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: $5.4
Costs to cover: 0.472%
Break-even: from the start

Slippage from edgeX: live order book, 27 min ago; BingX: live order book, 11 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 edgeX live order book, 27 min ago	6.10 bp	10.6 bp −$11	26.8 bp −$268	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	4.09 bp	13.0 bp −$13	21.5 bp −$215	81.7 bp −$8,169	632.1 bp −$316.0K

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-USD	0.0000%	1h	0.2461	+0.443%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2458	+0.330%	$162K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2462	+0.497%	$478K	$352K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2461	+0.437%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2454	+0.166%	$407K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2461	+0.468%	$6.2M	$11.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2464	+0.575%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2466	+0.640%	$42.7M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2463	+0.547%	$1.2M	$998K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2463	+0.525%	$158K	$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	0.2465	+0.615%	$102.2M	$355.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2465	+0.615%	$70.9M	$99.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2466	+0.656%	$32.0M	$105.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2461	+0.452%	$97.0M	$57.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2465	+0.615%	$53.1M	$50.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2462	+0.501%	$30.4M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2465	+0.615%	$65.9M	$42.8M	75x	as long as short
BingX ADA-USDCshort	+0.0100%	8h	0.2463	+0.534%	—	$6.6M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2463	+0.530%	$101K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	−0.022%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDClong	+0.0100%	4h	0.2450	long leg	$65K	$278K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	+0.134%	$296K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	+0.207%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2465	+0.615%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	+0.452%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2462	+0.496%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2461	+0.450%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2462	+0.473%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2462	+0.488%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2461	+0.452%	$48.0M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2463	+0.536%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2463	+0.518%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2454	+0.170%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	+0.126%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2465	+0.625%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−0.201%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2461	+0.439%	$122K	—	100x	as long as short