Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.048%

Price spread now: GMX against Bitget−0.050%7-day average +0.024% · you buy dearer than you sell

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

Long on Bitget 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)+0.179%+$18 · spread now −0.050%, 7d avg +0.024%

Together, before fees+0.324%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.074% cheaper against Bitget than usual: you would sell low and buy high (spread −0.050% now, against its 7-day average of +0.024%). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ADAUSDT	0.2478	0.0100	pay 0.0100% / 8h	5h 33m	$66.4M	$48.4M	75x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2477	L +0.0418% / S −0.0202%	get 0.0025% / 1h	33m 21s	$96K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.050%Rate

Funding earned: $21.46
Price spread: −0.050% → +0.024%: −$7.41
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$9.94
Costs to cover: 0.240%
Break-even: 10.2 days

Slippage unknown: Bitget: live order book, 6 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 Bitget live order book, 6 min ago	2.03 bp	11.8 bp −$12	13.6 bp −$136	32.2 bp −$3,219	140.3 bp −$70.1K
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	0.2474	−0.149%	$204K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2476	−0.067%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.282%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2475	−0.121%	$423K	$7.6M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2480	+0.101%	$43.1M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2477	−0.041%	$1.2M	$991K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2476	−0.086%	$159K	$161K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2478	0.000%	$104.4M	$370.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2477	−0.040%	$72.8M	$109.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2479	+0.040%	$33.0M	$106.4M	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	0.2476	−0.081%	$99.2M	$59.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2478	0.000%	$58.0M	$57.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2477	−0.028%	$29.8M	$16.5M	75x	as long as short
Bitget ADAUSDTlong	+0.0100%	8h	0.2478	long leg	$66.4M	$48.4M	75x
BingX ADA-USDC	+0.0100%	8h	0.2477	−0.040%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2475	−0.121%	$128K	$423K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2479	+0.041%	$4.3M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2477	−0.036%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2477	−0.059%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2476	−0.081%	$228K	$733K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2479	+0.032%	$96K	$676K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2478	0.000%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2478	+0.004%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2475	−0.122%	$9K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2475	−0.141%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2475	−0.121%	$1.3M	$6.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2476	−0.081%	$48.2M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2478	−0.008%	$537K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0105%	8h	0.2475	−0.121%	$141K	$6.3M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2479	+0.036%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2468	−0.387%	$4K	$90K	10x	as long as short
Lighter ADA	+0.0176%	1h	0.2477	−0.056%	$2.5M	$1.0M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2480	+0.081%	$4.5M	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0259%	1h	0.2474	−0.143%	$6.3M	$12.5M	50x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2478	+0.019%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0418% / S −0.0202%	1h	0.2477	−0.050%	$96K	—	100x
Deribit ADA_USDC-PERPETUAL	+0.0478%	1h	0.2475	−0.121%	$563K	$450K	50x	as long as short