Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h +0.004%

Price spread now: BingX against Deribit−0.033%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 3 days (all we have)−0.159%−$16 · spread now −0.033%, 7d avg −0.030%

Together, before fees−0.113%−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ADA_USDC-PERPETUAL	0.2449	0.0077	pay 0.0010% / 1h	12m 07s	$475K	$353K	50x
Short	BingX ADA-USDC	0.2448	0.0100	get 0.0100% / 8h	2h 12m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. 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 DeribitbpFee BingXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $4.83
Price spread: −0.033% → −0.030%: −$0.27
Slippage, 4 orders: −$21.98
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$34.42
Costs to cover: 0.390%
Break-even: 56.9 days

Slippage from Deribit: live order book, 12 min ago; BingX: live order book, 9 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 Deribit live order book, 12 min ago	3.05 bp	6.6 bp −$7	13.0 bp −$130	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	4.06 bp	9.1 bp −$9	21.5 bp −$215	76.8 bp −$7,681	686.8 bp −$343.4K

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-USD	0.0000%	1h	0.2448	−0.028%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2451	+0.090%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2448	−0.042%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.212%	$407K	$7.2M	50x	as long as short
Deribit ADA_USDC-PERPETUALlong	+0.0077%	1h	0.2449	long leg	$475K	$353K	50x
Lighter ADA	+0.0096%	1h	0.2450	+0.029%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2448	−0.041%	$42.4M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2448	−0.026%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2448	−0.040%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2448	−0.040%	$101.5M	$355.7M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2447	−0.074%	$70.4M	$99.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2447	−0.074%	$31.8M	$105.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2446	−0.114%	$96.6M	$58.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	−0.074%	$52.6M	$56.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	−0.049%	$30.2M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2448	−0.033%	$65.5M	$42.8M	75x	as long as short
BingX ADA-USDCshort	+0.0100%	8h	0.2448	−0.033%	—	$6.5M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	−0.037%	$102K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	+0.228%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.231%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.392%	$290K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.172%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2448	−0.049%	$96K	$623K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2447	−0.074%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	−0.032%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2449	+0.007%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.053%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2448	−0.049%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2448	−0.033%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2448	−0.025%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.062%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2452	+0.143%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2454	+0.212%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2447	−0.058%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2448	−0.034%	$6.1M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2447	−0.062%	$109K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.359%	$838	$131K	12x	as long as short