Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0421%/8h= −46.1% APRpaid last 24h −0.103%

Price spread now: Binance against GMX+0.111%7-day average +0.004% · you sell dearer than you buy

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.313%−$31 on $10k

Price spread, last 3 days (all we have)−0.795%−$80 · spread now +0.111%, 7d avg +0.004%

Together, before fees−1.108%−$111 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.107% dearer against GMX than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of +0.004%): +$11 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2453	L +0.0521% / S −0.0277%	pay 0.0065% / 1h	55m 55s	$113K	—	100x
Short	Binance ADAUSDT	0.2456	0.0100	get 0.0100% / 8h	2h 55m	$102.2M	$356.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.111%Rate

Funding earned: −$88.38
Price spread: +0.111% → +0.004%: $10.69
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$99.7
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 3 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 Binance live order book, 3 min ago	2.04 bp	7.0 bp −$7	9.5 bp −$95	24.7 bp −$2,473	76.1 bp −$38.1K

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	0.2454	+0.066%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2453	+0.009%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.002%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.049%	$391K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2457	+0.188%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.119%	$42.5M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2456	+0.113%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.106%	$157K	$148K	10x	as long as short
Binance ADAUSDTshort	+0.0100%	8h	0.2456	+0.111%	$102.2M	$356.7M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2455	+0.090%	$71.1M	$100.0M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	+0.090%	$32.3M	$105.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	+0.049%	$97.4M	$56.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2455	+0.090%	$52.9M	$56.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	+0.102%	$30.7M	$18.5M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	+0.049%	$65.6M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	+0.090%	—	$20.7M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2456	+0.131%	$102K	$421K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2465	+0.479%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2465	+0.501%	$66K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2463	+0.433%	$297K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2464	+0.457%	$55K	$578K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2454	+0.029%	$96K	$700K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	+0.049%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.085%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	+0.129%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	+0.110%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	+0.126%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2455	+0.090%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2455	+0.085%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	+0.079%	$564K	$1.8M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2454	+0.029%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2455	+0.090%	$4.4M	$5.4M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0239%	1h	0.2456	+0.147%	$477K	$359K	50x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2453	+0.007%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2456	+0.130%	$6.2M	$11.6M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0521% / S −0.0277%	1h	0.2453	long leg	$113K	—	100x
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.172%	$844	$95K	12x	as long as short