Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Orderly−0.020%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on gTrade (Gains Network)

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—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.020% cheaper against Orderly than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ADA_USDC	0.2432	0.0100	pay 0.0100% / 8h	1h 46m	$6K	$5K	20x
Short	gTrade (Gains Network) ADA/USD	0.2432	L +0.0005% / S −0.0003%	get 0.0000% / 1h	46m 25s	$83K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Orderly. 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 OrderlybpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.020%Rate

Funding earned: −$20.31
Price spread: −0.020% → 0.000%: −$2.01
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$38.32
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; gTrade (Gains Network): 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 Orderly no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Orderly and gTrade (Gains Network): 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	0.2434	+0.082%	$191K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USDshort	L +0.0005% / S −0.0003%	1h	0.2432	−0.020%	$83K	—	150x
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.604%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDClong	+0.0100%	8h	0.2432	long leg	$6K	$5K	20x
Aster ADAUSDT	+0.0100%	8h	0.2432	−0.007%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2433	+0.040%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2432	+0.016%	$102.3M	$410.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2431	−0.041%	$71.9M	$125.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2432	0.000%	$32.3M	$117.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2431	−0.041%	$99.4M	$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	0.2432	0.000%	$51.7M	$64.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2432	−0.021%	$29.3M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2431	−0.041%	$66.0M	$53.6M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2432	0.000%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2435	+0.123%	$137K	$484K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2437	+0.210%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2440	+0.329%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2437	+0.186%	$295K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2439	+0.288%	$81K	$890K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2431	−0.053%	$125K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2432	−0.007%	$39K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2434	+0.081%	$8K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2435	+0.144%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2436	+0.174%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2436	+0.164%	$47.3M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2431	−0.023%	$511K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2434	+0.074%	$20K	$250	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2438	+0.247%	$375K	$8.6M	50x	as long as short
dYdX ADA-USD	+0.0133%	1h	0.2432	+0.003%	$200K	$2K	10x	as long as short
Lighter ADA	+0.0136%	1h	0.2434	+0.062%	$2.4M	$1.0M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2441	+0.366%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2432	−0.020%	$6.3M	$13.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2438	+0.247%	$4.4M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2431	−0.061%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0286%	1h	0.2433	+0.053%	$42.7M	$18.2M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0490%	1h	0.2433	+0.025%	$619K	$612K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0629% / S −0.0728%	1h	0.2430	−0.072%	$163K	—	100x	as long as short