ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0467%/8h= −51.1% APRnext payment −$0.58 per $10,000 · paid last 24h −0.105%

Price spread now: Backpack against GMX+0.161%7-day average −0.013% · you sell dearer than you buy

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

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.323%−$32 on $10k

Price spread, last 3 days (all we have)−0.404%−$40 · spread now +0.161%, 7d avg −0.013%

Together, before fees−0.728%−$73 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.174% dearer against GMX than usual: you sell high and buy low (spread +0.161% now, against its 7-day average of −0.013%): +$17 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2461	L +0.0567% / S −0.0313%	pay 0.0071% / 1h	0m 51s	$122K	—	100x
Short	Backpack ADA_USDC_PERP	0.2465	0.0100	get 0.0013% / 1h	0m 51s	$109K	$418K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now +0.161%Rate

Funding earned: −$98.04
Price spread: +0.161% → −0.013%: $17.4
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$102.64
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 18 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 Backpack live order book, 18 min ago	0.20 bp	5.6 bp −$6	6.8 bp −$68	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	−0.015%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2461	+0.019%	$164K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2461	+0.002%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2459	−0.063%	$414K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2461	+0.024%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2463	+0.092%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2464	+0.137%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2464	+0.141%	$1.2M	$924K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2460	−0.010%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2464	+0.147%	$102.4M	$360.8M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2463	+0.100%	$71.7M	$102.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2464	+0.141%	$32.0M	$106.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2463	+0.100%	$97.5M	$59.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2463	+0.100%	$53.0M	$51.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2463	+0.116%	$30.2M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2464	+0.141%	$66.1M	$43.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2463	+0.100%	—	$18.0M	—	as long as short
Backpack ADA_USDC_PERPshort	+0.0100%	1h	0.2465	+0.161%	$109K	$418K	15x
Variational Omni ADA	+0.0100%	8h	0.2457	−0.137%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2461	+0.016%	$66K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	−0.107%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2460	−0.022%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	−0.038%	$96K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	+0.019%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2462	+0.048%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2461	+0.019%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2461	+0.019%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2461	+0.021%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2462	+0.059%	$48.0M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2461	+0.003%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2463	+0.080%	$557K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2462	+0.059%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2462	+0.059%	$4.4M	$5.4M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0278%	1h	0.2462	+0.055%	$480K	$395K	50x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2460	−0.019%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.425%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0567% / S −0.0313%	1h	0.2461	long leg	$122K	—	100x