Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0404%/8h= −44.3% APRpaid last 24h −0.104%

Price spread now: edgeX against GMX−0.214%7-day average −0.030% · you buy dearer than you sell

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

Long on GMX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.319%−$32 on $10k

Price spread, last 3 days (all we have)−0.283%−$28 · spread now −0.214%, 7d avg −0.030%

Together, before fees−0.602%+ Points / potential airdropedgeX: Active · farm board−$60 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and edgeX is 0.184% cheaper against GMX than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2451	L +0.0504% / S −0.0263%	pay 0.0063% / 1h	2m 39s	$110K	—	100x
Short	edgeX ADAUSDC	0.2445	0.0100	get 0.0050% / 4h	2h 02m	$65K	$280K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.214%Rate

Funding earned: −$84.91
Price spread: −0.214% → −0.030%: −$18.37
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$124.28
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; edgeX: live order book, 20 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 edgeX live order book, 20 min ago	6.10 bp	10.6 bp −$11	30.5 bp −$305	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	0.2450	−0.032%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2451	+0.013%	$153K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2451	+0.002%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.136%	$407K	$7.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0076%	1h	0.2452	+0.071%	$476K	$353K	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	+0.054%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2451	+0.026%	$42.5M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2451	+0.001%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	−0.011%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2451	+0.012%	$101.6M	$355.8M	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	0.2451	+0.013%	$70.5M	$99.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	−0.027%	$31.8M	$105.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2449	−0.068%	$96.5M	$58.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2450	−0.027%	$52.7M	$56.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	−0.007%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2451	+0.013%	$65.6M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2451	+0.013%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2452	+0.067%	$101K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2444	−0.256%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDCshort	+0.0100%	4h	0.2445	−0.214%	$65K	$280K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2445	−0.247%	$295K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2444	−0.272%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2450	−0.036%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	+0.013%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	+0.037%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	+0.053%	$9K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2451	+0.013%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	+0.016%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2451	+0.013%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2451	+0.012%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2450	−0.019%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2446	−0.174%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2449	−0.068%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2450	−0.015%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2451	+0.026%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0504% / S −0.0263%	1h	0.2451	long leg	$110K	—	100x
Injective ADA/USDC PERP	+0.0533%	1h	0.2445	−0.231%	$840	$168K	12x	as long as short