Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.048%

Price spread now: GMX against SunX−0.090%7-day average −0.021% · you buy dearer than you sell

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

Long on SunX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.145%+$14 on $10k

Price spread, last 3 days (all we have)+0.154%+$15 · spread now −0.090%, 7d avg −0.021%

Together, before fees+0.299%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.069% cheaper against SunX than usual: you would sell low and buy high (spread −0.090% now, against its 7-day average of −0.021%). If the spread goes back, that is −$7 on $10k: about 31 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	SunX ADA-USDT	0.2483	0.0100	pay 0.0100% / 8h	5h 16m	$9K	$745K	30x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2481	L +0.0486% / S −0.0279%	get 0.0035% / 1h	16m 48s	$109K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.090%Rate

Funding earned: $37.5
Price spread: −0.090% → −0.021%: −$6.95
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $10.55
Costs to cover: 0.200%
Break-even: 5.0 days

Slippage unknown: SunX: live order book, 15 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 SunX live order book, 15 min ago	20.77 bp	24.8 bp −$25	31.6 bp −$316	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	0.2479	−0.152%	$204K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2479	−0.145%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.482%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2480	−0.120%	$414K	$7.7M	50x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2481	−0.094%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2481	−0.099%	$159K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2480	−0.102%	$105.4M	$371.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2480	−0.120%	$72.4M	$110.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2481	−0.080%	$33.0M	$107.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2479	−0.160%	$99.7M	$60.4M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ADA_USDT	+0.0100%	8h	0.2479	−0.160%	$59.2M	$60.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2482	−0.060%	$29.9M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2480	−0.120%	$66.6M	$49.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2481	−0.080%	—	$19.9M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2482	−0.019%	$139K	$433K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2495	+0.486%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2487	+0.143%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2486	+0.111%	$294K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2496	+0.524%	$230K	$736K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2480	−0.100%	$95K	$678K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2481	−0.080%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2480	−0.102%	$40K	$2K	5x	as long as short
SunX ADA-USDTlong	+0.0100%	8h	0.2483	long leg	$9K	$745K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2480	−0.100%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2481	−0.063%	$1.3M	$6.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2481	−0.080%	$48.3M	$6.5M	50x	as long as short
Kalshi KXADAPERP	+0.0103%	8h	0.2480	−0.120%	$160K	$6.3M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2479	−0.146%	$539K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0110%	8h	0.2481	−0.093%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0134%	1h	0.2482	−0.049%	$43.2M	$14.4M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2486	+0.114%	$4K	$90K	10x	as long as short
Lighter ADA	+0.0176%	1h	0.2482	−0.043%	$2.4M	$1.1M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2482	−0.039%	$4.5M	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0259%	1h	0.2480	−0.128%	$6.3M	$12.7M	50x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2480	−0.101%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0486% / S −0.0279%	1h	0.2481	−0.090%	$109K	—	100x
Deribit ADA_USDC-PERPETUAL	+0.0557%	1h	0.2482	−0.060%	$586K	$442K	50x	as long as short