Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0163%/8h= +17.8% APRpaid last 24h +0.044%

Price spread now: GMX against KuCoin−0.014%7-day average +0.012% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.139%+$14 on $10k

Price spread, last 3 days (all we have)+0.344%+$34 · spread now −0.014%, 7d avg +0.012%

Together, before fees+0.483%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.026% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.012%). If the spread goes back, that is −$3 on $10k: about 13 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ADAUSDTM	0.2455	0.0100	pay 0.0100% / 8h	2h 23m	$30.3M	$18.2M	75x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2454	L +0.0504% / S −0.0263%	get 0.0033% / 1h	23m 10s	$110K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.014%Rate

Funding earned: $34.14
Price spread: −0.014% → +0.012%: −$2.58
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $7.56
Costs to cover: 0.240%
Break-even: 5.5 days

Slippage unknown: KuCoin: live order book, 6 min ago; GMX: no order-book sample. 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 KuCoin live order book, 6 min ago	1.02 bp	13.0 bp −$13	21.2 bp −$212	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	0.2453	−0.074%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2454	−0.029%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	0.000%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2452	−0.110%	$411K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2456	+0.061%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.041%	$42.6M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.012%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.024%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	+0.012%	$101.4M	$354.9M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2455	+0.012%	$70.6M	$99.7M	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	+0.012%	$31.9M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	−0.029%	$97.0M	$57.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	−0.029%	$52.6M	$56.6M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2455	long leg	$30.3M	$18.2M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2455	+0.012%	$65.8M	$42.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2454	−0.029%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	+0.033%	$101K	$409K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	+0.070%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	−0.033%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.070%	$289K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	−0.029%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.016%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2455	+0.012%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.024%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	+0.054%	$9K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	+0.033%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2455	+0.009%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.029%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2455	+0.029%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	−0.001%	$558K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2455	+0.020%	$4K	$82K	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0198%	1h	0.2456	+0.057%	$477K	$353K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.094%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2455	+0.024%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2455	+0.024%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0504% / S −0.0263%	1h	0.2454	−0.014%	$110K	—	100x
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.599%	$838	$131K	12x	as long as short