Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0511%/8h= +56.0% APRpaid last 24h +0.089%

Price spread now: Deribit against BingX+0.066%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.066%, 7d avg +0.026%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Deribit is 0.039% dearer against BingX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.026%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.049% in total (about 2.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ADA-USDC	0.2439	0.0100	pay 0.0100% / 8h	1h 30m	—	$6.5M	—
Short	Deribit ADA_USDC-PERPETUAL	0.2441	0.0611	get 0.0076% / 1h	30m 42s	$623K	$617K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.066%Rate

Funding earned: $107.31
Price spread: +0.066% → +0.026%: $3.94
Slippage, 4 orders: −$18.23
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $76.02
Costs to cover: 0.352%
Break-even: 2.0 days

Slippage from BingX: live order book, 1 min ago; Deribit: live order book, 13 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 BingX live order book, 1 min ago	4.10 bp	9.4 bp −$9	23.9 bp −$239	85.1 bp −$8,508	528.9 bp −$264.4K
Sell Deribit live order book, 13 min ago	2.66 bp	10.6 bp −$11	16.8 bp −$168	doesn't fit	doesn't fit

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	0.2438	−0.041%	$200K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2438	−0.058%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.312%	$849	$202K	12x	as long as short
dYdX ADA-USD	+0.0059%	1h	0.2437	−0.078%	$200K	$2K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2439	0.000%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2437	−0.066%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2439	+0.001%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2438	−0.061%	$102.5M	$408.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2437	−0.082%	$72.2M	$124.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2437	−0.082%	$32.4M	$117.4M	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	0.2437	−0.082%	$99.6M	$64.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2439	0.000%	$52.8M	$64.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2438	−0.029%	$29.4M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2438	−0.041%	$66.3M	$53.3M	75x	as long as short
BingX ADA-USDClong	+0.0100%	8h	0.2439	long leg	—	$6.5M	—
Variational Omni ADA	+0.0100%	8h	0.2438	−0.038%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2439	−0.012%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	0.000%	$291K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2442	+0.123%	$80K	$891K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2439	−0.008%	$128K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2436	−0.111%	$39K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2441	+0.082%	$8K	$762K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2439	−0.021%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2439	−0.001%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2438	−0.041%	$47.3M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2437	−0.065%	$512K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2439	+0.019%	$20K	$250	20x	as long as short
Lighter ADA	+0.0112%	1h	0.2439	−0.004%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2439	0.000%	$381K	$8.5M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0154%	1h	0.2439	+0.008%	$138K	$483K	15x	as long as short
Phoenix ADA	+0.0163%	1h	0.2440	+0.029%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2439	−0.011%	$6.3M	$13.9M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2441	+0.082%	$4.4M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0266%	1h	0.2440	+0.025%	$42.8M	$18.2M	10x	as long as short
Reya ADARUSDPERP	+0.0274%	1h	0.2439	−0.020%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0611%	1h	0.2441	+0.066%	$623K	$617K	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2438	−0.038%	$164K	—	100x	as long as short