Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0289%/8h= +31.6% APRpaid last 24h +0.048%

Price spread now: GMX against MEXC−0.166%7-day average +0.022% · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.140%+$14 on $10k

Price spread, last 3 days (all we have)+0.297%+$30 · spread now −0.166%, 7d avg +0.022%

Together, before fees+0.437%+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.188% cheaper against MEXC than usual: you would sell low and buy high (spread −0.166% now, against its 7-day average of +0.022%). If the spread goes back, that is −$19 on $10k: about 2.2 days of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ADA_USDT	0.2454	0.0100	pay 0.0100% / 8h	6h 50m	$50.3M	$50.6M	300x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2450	L +0.0622% / S −0.0389%	get 0.0049% / 1h	50m 49s	$140K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.166%Rate

Funding earned: $60.59
Price spread: −0.166% → +0.022%: −$18.76
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $29.84
Costs to cover: 0.120%
Break-even: 3.6 days

Slippage unknown: MEXC: live order book, 3 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 MEXC live order book, 3 min ago	2.05 bp	2.0 bp −$2	4.7 bp −$47	19.6 bp −$1,963	75.8 bp −$37.9K
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	0.2448	−0.244%	$201K	$4K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	−0.185%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.693%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2455	+0.041%	$410K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2454	−0.020%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	0.000%	$1.2M	$968K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2448	−0.236%	$157K	$156K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	+0.079%	$102.2M	$374.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2455	+0.041%	$72.1M	$107.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2458	+0.163%	$32.5M	$108.6M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2454	0.000%	$98.4M	$58.4M	75x	as long as short
MEXC ADA_USDTlong	+0.0100%	8h	0.2454	long leg	$50.3M	$50.6M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	+0.008%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2457	+0.122%	$65.8M	$46.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2457	+0.122%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2453	−0.057%	$129K	$422K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.158%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2444	−0.424%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.407%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	−0.285%	$56K	$587K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	−0.196%	$92K	$655K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	−0.122%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	−0.066%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	−0.162%	$9K	$773K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	−0.094%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	−0.132%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2453	−0.041%	$47.7M	$6.4M	50x	as long as short
Kalshi KXADAPERP	+0.0102%	8h	0.2449	−0.204%	$205K	$6.2M	3.2x	as long as short
Lighter ADA	+0.0104%	1h	0.2454	−0.016%	$2.4M	$1.0M	10x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	+0.018%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2448	−0.261%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2441	−0.530%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2451	−0.122%	$4.5M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2449	−0.223%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2451	−0.117%	$6.2M	$12.0M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0403%	1h	0.2452	−0.073%	$498K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0622% / S −0.0389%	1h	0.2450	−0.166%	$140K	—	100x