Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.024%

Price spread now: SunX against dYdX+0.080%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$333as in the Funding arb table

Net, price: spread back to 7d avg − costs−$348as in the Price arb table

costs, in and out, $10k−$3523.515% of the position

Long on dYdX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now +0.080%, 7d avg +0.046%

Together, before fees+0.233%+$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.035% dearer against dYdX than usual: you sell high and buy low (spread +0.080% now, against its 7-day average of +0.046%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.6 days. Mind the row above: over the last 7 days funding on this pair paid +0.183%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2436	0.0144	pay 0.0018% / 1h	47m 40s	$200K	$2K	10x
Short	SunX ADA-USDT	0.2438	0.0100	get 0.0100% / 8h	1h 47m	$8K	$765K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.080%Rate

Funding earned: −$9.17
Price spread: +0.080% → +0.046%: $3.46
Slippage, 4 orders: −$333.53
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$357.24
Costs to cover: 3.515%
Break-even: never at this rate

Slippage from dYdX: live order book, 61 min ago; SunX: live order book, 14 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, 61 min ago	143.70 bp	148.7 bp −$149	148.7 bp −$1,487	148.7 bp −$14.9K	152.4 bp −$76.2K
Sell SunX live order book, 14 min ago	20.81 bp	27.3 bp −$27	34.7 bp −$347	doesn't fit	doesn't fit

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	0.2438	+0.082%	$192K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2435	−0.024%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.437%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2436	0.000%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2437	+0.041%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2437	+0.048%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2437	+0.041%	$102.5M	$410.9M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2436	0.000%	$72.0M	$125.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2436	0.000%	$32.4M	$118.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2435	−0.041%	$99.7M	$64.1M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ADA_USDT	+0.0100%	8h	0.2437	+0.041%	$51.9M	$64.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2438	+0.070%	$29.4M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2436	0.000%	$66.1M	$53.6M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2437	+0.041%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2437	+0.054%	$137K	$484K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2437	+0.045%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2440	+0.165%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2437	+0.022%	$295K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2439	+0.123%	$81K	$890K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2436	−0.004%	$124K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	+0.031%	$40K	$4K	5x	as long as short
SunX ADA-USDTshort	+0.0100%	8h	0.2438	+0.080%	$8K	$765K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2437	+0.021%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2438	+0.072%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2436	0.000%	$47.3M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2435	−0.027%	$511K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2437	+0.021%	$20K	$250	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2438	+0.082%	$375K	$8.6M	50x	as long as short
Lighter ADA	+0.0128%	1h	0.2438	+0.070%	$2.4M	$1.0M	10x	as long as short
dYdX ADA-USDlong	+0.0144%	1h	0.2436	long leg	$200K	$2K	10x
Phoenix ADA	+0.0163%	1h	0.2437	+0.062%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2436	−0.009%	$6.3M	$13.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2442	+0.246%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2436	−0.019%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0301%	1h	0.2440	+0.156%	$42.9M	$18.2M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0407%	1h	0.2437	+0.054%	$620K	$613K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0629% / S −0.0728%	1h	0.2435	−0.033%	$163K	—	100x	as long as short