Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: dYdX against Bybit+0.016%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$215as in the Funding arb table

Net, price: spread back to 7d avg − costs−$203as in the Price arb table

costs, in and out, $10k−$2052.049% of the position

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.104%−$10 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.016%, 7d avg +0.002%

Together, before fees−0.144%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ADAUSDT	0.2467	0.0100	pay 0.0100% / 8h	7h 28m	$72.4M	$104.2M	75x
Short	dYdX ADA-USD	0.2467	0	get 0.0000% / 1h	28m 19s	$203K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$21
Price spread: +0.016% → +0.002%: $1.42
Slippage, 4 orders: −$183.87
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$224.45
Costs to cover: 2.049%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; dYdX: live order book, 46 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 Bybit live order book, 6 min ago	2.03 bp	7.5 bp −$8	10.3 bp −$103	29.2 bp −$2,917	143.8 bp −$71.9K
Sell dYdX live order book, 46 min ago	89.91 bp	94.9 bp −$95	164.7 bp −$1,647	175.4 bp −$17.5K	176.8 bp −$88.4K

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-USDshort	0.0000%	1h	0.2467	+0.016%	$203K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2465	−0.081%	$184K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2467	−0.019%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.162%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2464	−0.122%	$420K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2468	+0.048%	$6.2M	$11.7M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2467	−0.016%	$4K	$84K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2468	+0.042%	$1.2M	$948K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2469	+0.097%	$161K	$148K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2469	+0.062%	$102.9M	$365.6M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDTlong	+0.0100%	8h	0.2467	long leg	$72.4M	$104.2M	75x
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2469	+0.081%	$32.6M	$107.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2466	−0.041%	$98.2M	$58.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2467	0.000%	$53.4M	$51.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2468	+0.032%	$30.2M	$17.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2468	+0.041%	$66.1M	$44.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2467	0.000%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2465	−0.061%	$128K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2470	+0.126%	$4.2M	$942K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2471	+0.145%	$66K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2472	+0.193%	$290K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2466	−0.041%	$56K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2466	−0.032%	$94K	$645K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2468	+0.041%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2469	+0.066%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2469	+0.081%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2469	+0.061%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2464	−0.116%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2463	−0.162%	$48.1M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0103%	8h	0.2471	+0.143%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2468	+0.039%	$540K	$1.8M	50x	as long as short
Lighter ADA	+0.0120%	1h	0.2470	+0.122%	$2.5M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0171%	1h	0.2469	+0.081%	$43.1M	$14.5M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2468	+0.041%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2467	+0.001%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0358%	1h	0.2470	+0.101%	$496K	$434K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0626% / S −0.0393%	1h	0.2466	−0.041%	$142K	—	100x	as long as short