Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0466%/8h= −51.1% APRpaid last 24h −0.106%

Price spread now: Paradex against GMX+0.110%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.110% dearer against GMX than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2467	L +0.0566% / S −0.0313%	pay 0.0071% / 1h	44m 52s	$123K	—	100x
Short	Paradex ADA-USD-PERP	0.2470	0.0100	get 0.0100% / 8h	44m 52s	$21K	$250	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against GMX. 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 GMXbpFee ParadexbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$97.91
Price spread: +0.110% → 0.000%: $10.96
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$102.95
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Paradex: 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 GMX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

GMX and Paradex: 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
dYdX ADA-USD	0.0000%	1h	0.2468	+0.044%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2470	+0.122%	$168K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2468	+0.024%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2463	−0.161%	$406K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2469	+0.086%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2469	+0.078%	$42.8M	$14.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2468	+0.041%	$1.2M	$924K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2470	+0.108%	$159K	$144K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2467	+0.001%	$102.7M	$361.9M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2467	+0.001%	$72.0M	$102.5M	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	0.2467	+0.001%	$32.5M	$107.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2467	+0.001%	$97.8M	$59.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2466	−0.040%	$53.3M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2467	+0.005%	$30.3M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2467	+0.001%	$66.2M	$43.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2467	+0.001%	—	$18.1M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2468	+0.049%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2469	+0.100%	$66K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2468	+0.041%	$298K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2461	−0.242%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2467	+0.017%	$96K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2467	+0.001%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2468	+0.048%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	+0.122%	$9K	$762K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2467	+0.021%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2469	+0.092%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2466	−0.040%	$48.2M	$5.9M	50x	as long as short
Paradex ADA-USD-PERPshort	+0.0100%	8h	0.2470	+0.110%	$21K	$250	20x
Backpack ADA_USDC_PERP	+0.0103%	1h	0.2468	+0.054%	$110K	$415K	15x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2467	−0.017%	$558K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2467	+0.014%	$6.2M	$11.6M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2475	+0.333%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2470	+0.122%	$4.4M	$5.5M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0236%	1h	0.2468	+0.054%	$501K	$423K	50x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.163%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2467	+0.004%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0566% / S −0.0313%	1h	0.2467	long leg	$123K	—	100x