Funding you earn now, next payment 02:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.048%
Price spread now: GMX against Phemex+0.345%52s7-day average +0.004% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.145%+$14 on $10k
+Price spread, last 3 days (all we have)−0.306%−$31 · spread now +0.345%, 7d avg +0.004%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GMX is 0.341% dearer against Phemex than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.004%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ADAUSDT | 0.2452 | 0.0100 | pay 0.0100% / 8h | 6h 28m | $47.7M | $6.4M | 50x |
| Short | GMX ADA/USD [WBTC.b-USDC] | 0.2460 | L +0.0416% / S −0.0202% | get 0.0025% / 1h | 28m 23s | $95K | — | 100x |
Phemex ADAUSDT
GMX ADA/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $21.46
- Price spread: +0.345% → +0.004%
- $34.14
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $31.6
- Costs to cover
- 0.240%
- Break-even
- from the start
Slippage unknown: Phemex: 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 Phemex live order book, 6 min ago | 2.04 bp | 8.0 bp −$8 | 13.2 bp −$132 | 36.6 bp −$3,662 | 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 36 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 | 0.2455 | +0.135% | $202K | $3K | 10x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2460 | +0.344% | $84K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +0.775% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0048% | 1h | 0.2456 | +0.163% | $400K | $7.4M | 50x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2460 | +0.347% | $42.9M | $14.4M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2459 | +0.296% | $1.2M | $969K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2458 | +0.226% | $159K | $156K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2462 | +0.408% | $102.9M | $373.5M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2462 | +0.408% | $72.4M | $108.8M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2464 | +0.489% | $32.6M | $108.1M | 50x | as long as short |
dYdX ADA-USD
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTX
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAPShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ADA_USDT | +0.0100% | 8h | 0.2460 | +0.326% | $98.1M | $59.8M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2459 | +0.285% | $49.5M | $51.3M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2459 | +0.290% | $30.0M | $17.6M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2462 | +0.408% | $65.8M | $46.9M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2462 | +0.408% | — | $6.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2453 | +0.037% | $125K | $421K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2452 | +0.005% | $4.2M | $991K | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2453 | +0.042% | $65K | $284K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2451 | −0.051% | $289K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2451 | −0.041% | $56K | $587K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2459 | +0.273% | $93K | $665K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2461 | +0.367% | $6K | $27K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2463 | +0.443% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2460 | +0.324% | $9K | $769K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2463 | +0.449% | $339 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2455 | +0.127% | $1.3M | $5.8M | 75x | as long as short |
| Phemex ADAUSDTlong | +0.0100% | 8h | 0.2452 | long leg | $47.7M | $6.4M | 50x | |
| Extended ADA-USD | +0.0104% | 1h | 0.2462 | +0.422% | $535K | $1.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0105% | 8h | 0.2459 | +0.291% | $21K | $250 | 20x | as long as short |
| Kalshi KXADAPERP | +0.0112% | 8h | 0.2456 | +0.163% | $148K | $6.3M | 3.2x | as long as short |
| Phoenix ADA | +0.0163% | 1h | 0.2457 | +0.212% | $4K | $87K | 10x | as long as short |
| Lighter ADA | +0.0184% | 1h | 0.2456 | +0.179% | $2.4M | $1.0M | 10x | as long as short |
| Reya ADARUSDPERP | +0.0281% | 1h | 0.2459 | +0.286% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0353% | 1h | 0.2463 | +0.443% | $6.2M | $12.1M | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC]short | L +0.0416% / S −0.0202% | 1h | 0.2460 | +0.345% | $95K | — | 100x | |
| Deribit ADA_USDC-PERPETUAL | +0.0562% | 1h | 0.2464 | +0.481% | $504K | $471K | 50x | as long as short |
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Extended ADA-USD
Paradex ADA-USD-PERP
Kalshi KXADAPERP
Phoenix ADA
Lighter ADA
Reya ADARUSDPERP
Kraken Futures PF_ADAUSD
Deribit ADA_USDC-PERPETUAL