Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.029%

Price spread now: Bybit against gTrade (Gains Network)−0.139%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Bybit is 0.139% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.139% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 4.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ADA/USD	0.2481	L +0.0005% / S −0.0003%	pay 0.0001% / 1h	28m 45s	$85K	—	150x
Short	Bybit ADAUSDT	0.2478	0.0100	get 0.0100% / 8h	4h 28m	$72.3M	$108.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now −0.139%Rate

Funding earned: $20.01
Price spread: −0.139% → 0.000%: −$13.94
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$14.94
Costs to cover: 0.210%
Break-even: 12.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 5 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	2.03 bp	7.5 bp −$8	11.1 bp −$111	33.6 bp −$3,363	141.8 bp −$70.9K

gTrade (Gains Network): 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-USD	0.0000%	1h	0.2478	−0.137%	$204K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2483	+0.062%	$150K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USDlong	L +0.0005% / S −0.0003%	1h	0.2481	long leg	$85K	—	150x
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.422%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2481	−0.019%	$429K	$7.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0091%	1h	0.2482	+0.030%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2479	−0.087%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2478	−0.139%	$1.2M	$985K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2479	−0.115%	$161K	$160K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2478	−0.120%	$105.1M	$370.1M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDTshort	+0.0100%	8h	0.2478	−0.139%	$72.3M	$108.6M	75x
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2479	−0.099%	$33.1M	$105.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2475	−0.260%	$98.9M	$59.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2479	−0.099%	$60.6M	$60.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2479	−0.111%	$30.0M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2476	−0.220%	$66.6M	$49.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2475	−0.260%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2479	−0.091%	$126K	$442K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2475	−0.258%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2477	−0.199%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2476	−0.211%	$295K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2466	−0.623%	$227K	$743K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2483	+0.070%	$95K	$688K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2483	+0.062%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2483	+0.070%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2484	+0.102%	$9K	$731K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2482	+0.042%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2482	+0.040%	$1.3M	$6.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2481	−0.019%	$48.4M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2478	−0.145%	$536K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2479	−0.083%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0190%	1h	0.2479	−0.103%	$43.0M	$14.8M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2482	+0.002%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2485	+0.143%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2484	+0.102%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0596%	1h	0.2484	+0.094%	$603K	$489K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0597% / S −0.0547%	1h	0.2481	−0.014%	$134K	—	100x	as long as short