Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0213%/8h= +23.3% APRpaid last 24h +0.045%

Price spread now: GMX against BingX0.000%7-day average +0.010% · you sell dearer than you buy

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.146%+$15 on $10k

Price spread, last 3 days (all we have)+0.162%+$16 · spread now 0.000%, 7d avg +0.010%

Together, before fees+0.308%+$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ADA-USDT	0.2440	0.0100	pay 0.0100% / 8h	26m 54s	—	$18.1M	—
Short	GMX ADA/USD [WBTC.b-USDC]	0.2440	L +0.0563% / S −0.0313%	get 0.0039% / 1h	26m 54s	$121K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $44.65
Price spread: 0.000% → +0.010%: −$1.05
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $21.61
Costs to cover: 0.220%
Break-even: 3.6 days

Slippage unknown: BingX: live order book, 11 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 BingX live order book, 11 min ago	4.07 bp	9.1 bp −$9	9.1 bp −$91	14.4 bp −$1,441	28.3 bp −$14.2K
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	0.2438	−0.083%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2440	0.000%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2440	−0.018%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2438	−0.082%	$402K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2442	+0.090%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2440	+0.020%	$42.2M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2441	+0.030%	$1.2M	$928K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2439	−0.048%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2440	+0.008%	$101.3M	$363.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2439	−0.041%	$70.9M	$103.3M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2441	+0.041%	$32.2M	$106.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2439	−0.041%	$96.8M	$59.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2440	0.000%	$52.3M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2441	+0.037%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2440	0.000%	$65.5M	$43.5M	75x	as long as short
BingX ADA-USDTlong	+0.0100%	8h	0.2440	long leg	—	$18.1M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2442	+0.078%	$108K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	+0.378%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2442	+0.083%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	+0.370%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2442	+0.082%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2439	−0.045%	$92K	$634K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2440	0.000%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2441	+0.028%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2440	−0.002%	$9K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2440	+0.012%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2441	+0.029%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2441	+0.041%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2439	−0.037%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2440	+0.002%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2440	+0.017%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2442	+0.102%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2442	+0.082%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.270%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2439	−0.035%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0563% / S −0.0313%	1h	0.2440	0.000%	$121K	—	100x
Deribit ADA_USDC-PERPETUAL	+2.4746%	1h	0.2501	+2.516%	$503K	$430K	50x	as long as short