Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: dYdX against SunX+0.093%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$391as in the Funding arb table

Net, price: spread back to 7d avg − costs−$359as in the Price arb table

costs, in and out, $10k−$3733.728% of the position

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 3 days (all we have)−0.240%−$24 · spread now +0.093%, 7d avg −0.043%

Together, before fees−0.423%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.137% dearer against SunX than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of −0.043%): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ADA-USDT	0.2444	0.0100	pay 0.0100% / 8h	2h 37m	$9K	$757K	30x
Short	dYdX ADA-USD	0.2446	0	get 0.0000% / 1h	37m 25s	$201K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$21
Price spread: +0.093% → −0.043%: $13.66
Slippage, 4 orders: −$354.77
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$380.12
Costs to cover: 3.728%
Break-even: never at this rate

Slippage from SunX: live order book, 44 min ago; dYdX: live order book, 51 min ago.

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 SunX live order book, 44 min ago	20.80 bp	24.8 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 51 min ago	145.63 bp	169.1 bp −$169	185.2 bp −$1,852	199.9 bp −$20.0K	550.5 bp −$275.2K

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-USDshort	0.0000%	1h	0.2446	+0.093%	$201K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2441	−0.122%	$152K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2442	−0.090%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2440	−0.163%	$406K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2449	+0.209%	$2.4M	$1.3M	10x	as long as short
Gate ADA_USDT	+0.0098%	8h	0.2446	+0.082%	$96.8M	$57.4M	75x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	+0.225%	$42.5M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2446	+0.098%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2448	+0.148%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2450	+0.238%	$101.0M	$355.2M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2448	+0.164%	$70.5M	$99.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	+0.205%	$31.8M	$105.1M	50x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	+0.123%	$52.3M	$56.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	+0.156%	$30.4M	$18.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2448	+0.164%	$65.5M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2448	+0.164%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2444	+0.017%	$101K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	+0.144%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2442	−0.070%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	+0.162%	$286K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2448	+0.164%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	+0.197%	$96K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2443	−0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2443	−0.041%	$40K	$3K	5x	as long as short
SunX ADA-USDTlong	+0.0100%	8h	0.2444	long leg	$9K	$757K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2442	−0.061%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2442	−0.070%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2442	−0.081%	$47.7M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2450	+0.226%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2448	+0.174%	$554K	$1.8M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0118%	1h	0.2444	−0.008%	$475K	$354K	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2447	+0.119%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2438	−0.245%	$4.3M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2449	+0.199%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0338%	1h	0.2442	−0.061%	$6.1M	$11.5M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0520% / S −0.0277%	1h	0.2442	−0.073%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.532%	$844	$95K	12x	as long as short