Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0496%/8h= −54.4% APRpaid last 24h −0.109%

Price spread now: BingX against GMX+0.248%7-day average — · you sell dearer than you buy

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

Long on GMX Short on BingX

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

The price spread pays, funding is against you. BingX is 0.248% dearer against GMX than usual: you sell high and buy low (spread +0.248% now, against zero (this spread has no 7-day history yet)): +$25 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2479	L +0.0596% / S −0.0547%	pay 0.0075% / 1h	30m 07s	$134K	—	100x
Short	BingX ADA-USDC	0.2485	0.0100	get 0.0100% / 8h	4h 30m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.248%Rate

Funding earned: −$104.25
Price spread: +0.248% → 0.000%: $24.77
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$101.48
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; BingX: live order book, 6 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 BingX live order book, 6 min ago	4.07 bp	13.5 bp −$14	30.2 bp −$302	86.4 bp −$8,636	651.9 bp −$326.0K

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	0.2480	+0.028%	$204K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2481	+0.086%	$150K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2478	−0.020%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.317%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2480	+0.046%	$429K	$7.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0091%	1h	0.2482	+0.136%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2483	+0.187%	$2.5M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2481	+0.088%	$1.2M	$985K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2481	+0.084%	$161K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2484	+0.207%	$105.2M	$370.0M	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	0.2484	+0.207%	$72.5M	$108.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2486	+0.288%	$33.1M	$106.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2484	+0.207%	$99.2M	$59.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2484	+0.207%	$61.6M	$60.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2483	+0.171%	$30.0M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2486	+0.288%	$66.8M	$49.3M	75x	as long as short
BingX ADA-USDCshort	+0.0100%	8h	0.2485	+0.248%	—	$6.6M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2485	+0.256%	$126K	$442K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2475	−0.153%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	−0.920%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2456	−0.903%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2466	−0.519%	$227K	$743K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2480	+0.030%	$95K	$688K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2481	+0.086%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2482	+0.134%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2481	+0.086%	$8K	$732K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2482	+0.147%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2483	+0.183%	$1.3M	$6.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2483	+0.167%	$48.4M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2481	+0.100%	$536K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2483	+0.166%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0188%	1h	0.2487	+0.324%	$43.2M	$14.8M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2463	−0.648%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2480	+0.046%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2479	+0.006%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0596% / S −0.0547%	1h	0.2479	long leg	$134K	—	100x
Deribit ADA_USDC-PERPETUAL	+0.0717%	1h	0.2483	+0.187%	$603K	$489K	50x	as long as short