Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0447%/8h= −49.0% APRpaid last 24h −0.109%

Price spread now: Aster against GMX+0.133%7-day average +0.003% · you sell dearer than you buy

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

Long on GMX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.338%−$34 on $10k

Price spread, last 3 days (all we have)−0.266%−$27 · spread now +0.133%, 7d avg +0.003%

Together, before fees−0.604%+ Points / potential airdropAster: Stage 5 · farm board−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.130% dearer against GMX than usual: you sell high and buy low (spread +0.133% now, against its 7-day average of +0.003%): +$13 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2457	L +0.0547% / S −0.0339%	pay 0.0068% / 1h	54m 27s	$121K	—	100x
Short	Aster ADAUSDT	0.2460	0.0100	get 0.0100% / 8h	4h 54m	$1.2M	$979K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.133%Rate

Funding earned: −$93.94
Price spread: +0.133% → +0.003%: $13.01
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$100.93
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Aster: live order book, 4 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	2.04 bp	10.0 bp −$10	22.3 bp −$223	doesn't fit	doesn't fit

GMX: 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	0.2460	+0.107%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2461	+0.163%	$140K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2457	+0.017%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.570%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2459	+0.082%	$412K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2461	+0.148%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2463	+0.257%	$2.4M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2461	+0.171%	$42.7M	$14.9M	10x	as long as short
Aster ADAUSDTshort	+0.0100%	8h	0.2460	+0.133%	$1.2M	$979K	75x
Pacifica ADA	+0.0100%	1h	0.2462	+0.192%	$160K	$161K	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	0.2458	+0.053%	$103.8M	$372.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2457	0.000%	$71.7M	$111.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	0.000%	$32.7M	$105.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2457	0.000%	$98.3M	$58.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2457	0.000%	$61.3M	$59.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2460	+0.110%	$29.7M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2459	+0.082%	$66.1M	$50.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2457	0.000%	—	$20.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2462	+0.216%	$126K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	+0.208%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.196%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.261%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2449	−0.325%	$226K	$740K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	+0.114%	$92K	$683K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2457	0.000%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2458	+0.024%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2463	+0.245%	$8K	$742K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2461	+0.171%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2461	+0.144%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2462	+0.204%	$48.0M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2459	+0.099%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2461	+0.150%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2459	+0.098%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2460	+0.123%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2459	+0.062%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0481%	1h	0.2463	+0.232%	$588K	$485K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0547% / S −0.0339%	1h	0.2457	long leg	$121K	—	100x