Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.023%

Price spread now: Binance against dYdX+0.101%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$323as in the Funding arb table

Net, price: spread back to 7d avg − costs−$326as in the Price arb table

costs, in and out, $10k−$3333.330% of the position

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.101%, 7d avg +0.029%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Binance is 0.072% dearer against dYdX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2456	0	get 0.0000% / 1h	47m 24s	$202K	$4K	10x
Short	Binance ADAUSDT	0.2458	0.0100	get 0.0100% / 8h	6h 47m	$102.4M	$375.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now +0.101%Rate

Funding earned: $21
Price spread: +0.101% → +0.029%: $7.21
Slippage, 4 orders: −$313.05
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$304.83
Costs to cover: 3.330%
Break-even: 108.6 days

Slippage from dYdX: live order book, 22 min ago; Binance: live order book, 11 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 dYdX live order book, 22 min ago	75.22 bp	238.7 bp −$239	238.8 bp −$2,388	238.8 bp −$23.9K	281.4 bp −$140.7K
Sell Binance live order book, 11 min ago	2.04 bp	7.0 bp −$7	12.2 bp −$122	32.3 bp −$3,225	96.6 bp −$48.3K

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-USDlong	0.0000%	1h	0.2456	long leg	$202K	$4K	10x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2457	+0.075%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.630%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2455	−0.022%	$410K	$7.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2458	+0.101%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2459	+0.133%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2459	+0.141%	$1.2M	$969K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2457	+0.068%	$159K	$158K	10x	as long as short
Binance ADAUSDTshort	+0.0100%	8h	0.2458	+0.101%	$102.4M	$375.2M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2458	+0.101%	$72.4M	$108.1M	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	0.2455	−0.022%	$32.6M	$108.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2456	+0.019%	$98.4M	$58.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2458	+0.101%	$50.4M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2459	+0.133%	$30.1M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2458	+0.101%	$65.6M	$46.5M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2458	+0.101%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2458	+0.101%	$126K	$423K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.220%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2457	+0.052%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	+0.069%	$296K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2458	+0.101%	$56K	$588K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2458	+0.113%	$93K	$656K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.019%	$6K	$28K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	+0.031%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2458	+0.101%	$9K	$773K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	+0.040%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	+0.035%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2457	+0.060%	$47.8M	$6.4M	50x	as long as short
Kalshi KXADAPERP	+0.0104%	8h	0.2459	+0.141%	$195K	$6.2M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2458	+0.116%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2460	+0.192%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	+0.080%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2459	+0.141%	$4.4M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2457	+0.061%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2456	+0.027%	$6.2M	$12.0M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0402%	1h	0.2456	+0.011%	$499K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0389%	1h	0.2456	+0.028%	$140K	—	100x	as long as short