Funding arb · Price arb /

ADA

all ADA markets

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 Bybit+0.025%7-day average +0.016% · you sell dearer than you buy

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

Long on Bybit 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)+0.074%+$7 · spread now +0.025%, 7d avg +0.016%

Together, before fees+0.256%+$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, 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	Bybit ADAUSDT	0.2438	0.0100	pay 0.0100% / 8h	7h 29m	$72.4M	$127.1M	75x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2439	L +0.0368% / S −0.0295%	get 0.0037% / 1h	29m 47s	$86K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.025%Rate

Funding earned: $40.96
Price spread: +0.025% → +0.016%: $0.97
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $18.93
Costs to cover: 0.230%
Break-even: 3.8 days

Slippage unknown: Bybit: live order book, 4 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 Bybit live order book, 4 min ago	2.05 bp	7.5 bp −$8	10.8 bp −$108	36.1 bp −$3,611	147.4 bp −$73.7K
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	0.2439	+0.041%	$189K	$7.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2438	+0.015%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.354%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2440	+0.074%	$2.4M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2441	+0.131%	$42.8M	$18.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2439	+0.047%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2438	+0.002%	$156K	$181K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2440	+0.082%	$103.1M	$406.4M	75x	as long as short
Bybit ADAUSDTlong	+0.0100%	8h	0.2438	long leg	$72.4M	$127.1M	75x
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2440	+0.082%	$32.5M	$117.8M	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	0.2438	0.000%	$99.7M	$62.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2439	+0.041%	$58.7M	$68.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2439	+0.041%	$29.3M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2440	+0.082%	$66.3M	$53.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2440	+0.082%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2440	+0.082%	$135K	$485K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2441	+0.127%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2444	+0.257%	$65K	$289K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.557%	$290K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2443	+0.205%	$74K	$895K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2437	−0.021%	$116K	$1.4M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2438	0.000%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2438	+0.015%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2439	+0.033%	$8K	$751K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2441	+0.123%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2439	+0.055%	$1.3M	$7.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2439	+0.041%	$47.2M	$7.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2438	+0.007%	$20K	—	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2439	+0.057%	$541K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0152%	1h	0.2441	+0.123%	$365K	$8.4M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2451	+0.521%	$2K	$113K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0200%	1h	0.2438	+0.019%	$6.3M	$14.0M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2442	+0.164%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0272%	1h	0.2438	+0.001%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0365%	1h	0.2439	+0.057%	$633K	$737K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0368% / S −0.0295%	1h	0.2439	+0.025%	$86K	—	100x
dYdX ADA-USD	+0.0774%	1h	0.2439	+0.025%	$202K	$3K	10x	as long as short