Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0213%/8h= +23.3% APRpaid last 24h +0.044%

Price spread now: GMX against OKX−0.122%7-day average +0.005% · you buy dearer than you sell

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.142%+$14 on $10k

Price spread, last 3 days (all we have)+0.335%+$34 · spread now −0.122%, 7d avg +0.005%

Together, before fees+0.477%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.127% cheaper against OKX than usual: you would sell low and buy high (spread −0.122% now, against its 7-day average of +0.005%). If the spread goes back, that is −$13 on $10k: about 48 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ADA-USDT-SWAP	0.2470	0.0100	pay 0.0100% / 8h	54m 53s	$32.2M	$106.8M	50x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2467	L +0.0567% / S −0.0313%	get 0.0039% / 1h	54m 53s	$122K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.122%Rate

Funding earned: $44.65
Price spread: −0.122% → +0.005%: −$12.65
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $10
Costs to cover: 0.220%
Break-even: 5.4 days

Slippage unknown: OKX: live order book, 4 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 OKX live order book, 4 min ago	2.03 bp	10.9 bp −$11	13.8 bp −$138	46.5 bp −$4,651	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	0.2467	−0.118%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2467	−0.121%	$155K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2468	−0.098%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2464	−0.243%	$414K	$7.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2469	−0.057%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2468	−0.097%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2468	−0.082%	$1.2M	$925K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2468	−0.074%	$158K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2468	−0.064%	$102.7M	$360.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2468	−0.081%	$71.9M	$102.5M	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-SWAPlong	+0.0100%	8h	0.2470	long leg	$32.2M	$106.8M	50x
Gate ADA_USDT	+0.0100%	8h	0.2468	−0.081%	$97.6M	$59.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2467	−0.121%	$52.5M	$50.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2468	−0.097%	$30.3M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2467	−0.121%	$66.2M	$43.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2467	−0.121%	—	$18.1M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2464	−0.236%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2464	−0.247%	$66K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2463	−0.283%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2464	−0.243%	$56K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2468	−0.069%	$96K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2467	−0.121%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2468	−0.084%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2467	−0.121%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2467	−0.117%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2469	−0.055%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2467	−0.121%	$48.2M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2468	−0.084%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2468	−0.100%	$557K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2467	−0.120%	$6.2M	$11.6M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0116%	1h	0.2468	−0.093%	$109K	$418K	15x	as long as short
Phoenix ADA	+0.0131%	1h	0.2465	−0.219%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2467	−0.121%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.040%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2468	−0.078%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0358%	1h	0.2469	−0.049%	$486K	$400K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0567% / S −0.0313%	1h	0.2467	−0.122%	$122K	—	100x