Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0195%/8h= +21.4% APRpaid last 24h +0.074%

Price spread now: GMX against Binance−0.073%7-day average −0.013% · you buy dearer than you sell

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.182%+$18 on $10k

Price spread, last 4 days (all we have)+0.172%+$17 · spread now −0.073%, 7d avg −0.013%

Together, before fees+0.353%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.061% cheaper against Binance than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of −0.013%). If the spread goes back, that is −$6 on $10k: about 25 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	Binance ADAUSDT	0.2453	0.0100	pay 0.0100% / 8h	7h 35m	$103.7M	$407.0M	75x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2451	L +0.0369% / S −0.0295%	get 0.0037% / 1h	35m 56s	$87K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.073%Rate

Funding earned: $40.96
Price spread: −0.073% → −0.013%: −$6.09
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $12.88
Costs to cover: 0.220%
Break-even: 4.8 days

Slippage unknown: Binance: live order book, 8 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 Binance live order book, 8 min ago	2.03 bp	7.0 bp −$7	10.6 bp −$106	31.7 bp −$3,173	110.6 bp −$55.3K
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
Kalshi KXADAPERP	0.0000%	8h	0.2451	−0.082%	$196K	$7.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2450	−0.105%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.734%	$849	$202K	12x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	−0.005%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2451	−0.098%	$157K	$181K	10x	as long as short
Binance ADAUSDTlong	+0.0100%	8h	0.2453	long leg	$103.7M	$407.0M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2452	−0.041%	$73.1M	$127.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	0.000%	$32.7M	$118.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2451	−0.082%	$100.2M	$62.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	0.000%	$58.8M	$67.9M	300x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ADAUSDTM	+0.0100%	8h	0.2451	−0.069%	$29.4M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2452	−0.041%	$66.6M	$53.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2452	−0.041%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2453	−0.004%	$138K	$484K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	+0.004%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.049%	$65K	$288K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	+0.041%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.041%	$75K	$895K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	−0.183%	$116K	$1.4M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	−0.082%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2454	+0.022%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	−0.135%	$8K	$752K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2453	−0.004%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	−0.069%	$1.3M	$7.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2453	0.000%	$47.4M	$7.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2451	−0.067%	$544K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2450	−0.109%	$21K	—	20x	as long as short
Hyperliquid ADA	+0.0107%	1h	0.2454	+0.053%	$43.1M	$18.5M	10x	as long as short
Lighter ADA	+0.0152%	1h	0.2454	+0.045%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0152%	1h	0.2454	+0.041%	$367K	$8.5M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2459	+0.257%	$3K	$113K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0199%	1h	0.2453	+0.015%	$6.3M	$14.0M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2455	+0.082%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0272%	1h	0.2453	−0.020%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0362%	1h	0.2454	+0.037%	$636K	$739K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0369% / S −0.0295%	1h	0.2451	−0.073%	$87K	—	100x
dYdX ADA-USD	+0.0638%	1h	0.2450	−0.123%	$202K	$2K	10x	as long as short