Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0465%/8h= −50.9% APRpaid last 24h −0.106%

Price spread now: Variational Omni against GMX+0.129%7-day average −0.028% · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.333%−$33 on $10k

Price spread, last 3 days (all we have)−0.437%−$44 · spread now +0.129%, 7d avg −0.028%

Together, before fees−0.770%+ Points / potential airdropVariational Omni: Active · farm board−$77 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.157% dearer against GMX than usual: you sell high and buy low (spread +0.129% now, against its 7-day average of −0.028%): +$16 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2451	L +0.0565% / S −0.0313%	pay 0.0071% / 1h	33m 41s	$122K	—	100x
Short	Variational Omni ADA	0.2454	0.0100	get 0.0100% / 8h	33m 41s	$4.2M	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.129%Rate

Funding earned: −$97.6
Price spread: +0.129% → −0.028%: $15.7
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$93.89
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, just now. 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 Variational Omni RFQ quote, just now	6.12 bp	doesn't fit	10.2 bp −$102	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	0.2452	+0.024%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2454	+0.120%	$175K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2452	+0.024%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2451	−0.002%	$404K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2453	+0.092%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2453	+0.067%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	+0.065%	$1.2M	$925K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2452	+0.050%	$158K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2452	+0.039%	$101.9M	$362.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2451	−0.002%	$71.5M	$102.6M	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	0.2452	+0.039%	$32.3M	$106.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2451	−0.002%	$97.4M	$59.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2452	+0.039%	$52.9M	$50.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2452	+0.043%	$30.1M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	+0.120%	$65.8M	$43.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2453	+0.080%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2453	+0.067%	$110K	$415K	15x	as long as short
Variational Omni ADAshort	+0.0100%	8h	0.2454	+0.129%	$4.2M	$1.0M	—
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.219%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	+0.229%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.243%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2451	+0.006%	$95K	$627K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	−0.002%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	+0.032%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	+0.038%	$9K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	+0.018%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2452	+0.039%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2452	+0.039%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2452	+0.038%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	+0.082%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2452	+0.030%	$6.2M	$11.6M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0117%	1h	0.2452	+0.059%	$493K	$430K	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2459	+0.316%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	+0.080%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.814%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2451	+0.004%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0565% / S −0.0313%	1h	0.2451	long leg	$122K	—	100x