Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h 0.000%

Price spread now: BingX against ApeX Omni−0.406%53s7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.459% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 4 days (all we have)+0.403%+$40 · spread now −0.406%, 7d avg −0.014%

Together, before fees+0.378%+$38 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.393% cheaper against ApeX Omni than usual: you would sell low and buy high, −$39 on $10k if it goes back to its 7-day average of −0.014%. The two prices were read 53 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	ApeX Omni ADAUSDT	0.2462	0.0102	pay 0.0013% / 1h	2m 30s	$79K	$893K	50x
Short	BingX ADA-USDC	0.2452	0.0100	get 0.0100% / 8h	1h 02m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now −0.406%Rate

Funding earned: −$0.34
Price spread: −0.406% → −0.014%: −$39.26
Slippage, 4 orders: −$25.94
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$85.53
Costs to cover: 0.459%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 41 min ago; BingX: live order book, 4 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 ApeX Omni live order book, 41 min ago	2.05 bp	10.5 bp −$11	43.6 bp −$436	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	4.06 bp	14.6 bp −$15	31.5 bp −$315	81.9 bp −$8,187	651.1 bp −$325.6K

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
Kalshi KXADAPERP	0.0000%	8h	0.2455	−0.284%	$172K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2451	−0.432%	$84K	—	150x	as long as short
dYdX ADA-USD	+0.0030%	1h	0.2452	−0.415%	$202K	$2K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.366%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	−0.366%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2452	−0.390%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	−0.385%	$157K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2453	−0.366%	$103.4M	$407.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2453	−0.366%	$72.9M	$125.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	−0.366%	$32.6M	$118.2M	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	0.2452	−0.406%	$100.4M	$65.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2452	−0.406%	$53.3M	$66.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2452	−0.406%	$29.5M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2452	−0.406%	$66.7M	$53.5M	75x	as long as short
BingX ADA-USDCshort	+0.0100%	8h	0.2452	−0.406%	—	$6.5M	—
Variational Omni ADA	+0.0100%	8h	0.2464	+0.084%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2462	+0.006%	$66K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2461	−0.027%	$300K	$3.9M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2452	−0.414%	$127K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.303%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	−0.284%	$8K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	−0.305%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2455	−0.266%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.325%	$47.6M	$7.5M	50x	as long as short
ApeX Omni ADAUSDTlong	+0.0102%	1h	0.2462	long leg	$79K	$893K	50x
Extended ADA-USD	+0.0104%	1h	0.2452	−0.414%	$516K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2453	−0.363%	$21K	$250	20x	as long as short
Lighter ADA	+0.0120%	1h	0.2454	−0.337%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2453	−0.366%	$366K	$8.5M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0133%	1h	0.2454	−0.313%	$139K	$487K	15x	as long as short
Phoenix ADA	+0.0163%	1h	0.2462	+0.004%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0170%	1h	0.2455	−0.302%	$6.3M	$13.9M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2454	−0.325%	$4.5M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0274%	1h	0.2451	−0.446%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0283%	1h	0.2454	−0.329%	$43.1M	$18.1M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0443%	1h	0.2455	−0.288%	$625K	$616K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0602% / S −0.0679%	1h	0.2451	−0.453%	$156K	—	100x	as long as short