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 −0.029%

Price spread now: gTrade (Gains Network) against Phemex+0.018%7-day average — · you sell dearer than you buy

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

Long on Phemex 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2449	0.0100	pay 0.0100% / 8h	1h 22m	$47.5M	$7.5M	50x
Short	gTrade (Gains Network) ADA/USD	0.2449	L +0.0005% / S −0.0003%	get 0.0000% / 1h	22m 59s	$84K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phemex. 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 PhemexbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.018%Rate

Funding earned: −$20.35
Price spread: +0.018% → 0.000%: $1.76
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$40.59
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 6 min ago; 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 Phemex live order book, 6 min ago	2.05 bp	12.0 bp −$12	15.4 bp −$154	37.7 bp −$3,766	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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	0.2451	+0.082%	$197K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USDshort	L +0.0005% / S −0.0003%	1h	0.2449	+0.018%	$84K	—	150x
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.898%	$849	$202K	12x	as long as short
dYdX ADA-USD	+0.0048%	1h	0.2452	+0.104%	$202K	$2K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2450	+0.041%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2451	+0.072%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2452	+0.139%	$157K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2451	+0.065%	$103.1M	$408.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2449	0.000%	$72.8M	$124.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2451	+0.082%	$32.6M	$118.1M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2448	−0.041%	$100.2M	$64.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2450	+0.041%	$53.5M	$65.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2449	+0.008%	$29.5M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2450	+0.041%	$66.7M	$53.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2450	+0.041%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2451	+0.085%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2444	−0.189%	$65K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	−0.405%	$291K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	−0.082%	$80K	$892K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	+0.016%	$127K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2436	−0.519%	$39K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	+0.122%	$8K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.061%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2449	−0.004%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2449	long leg	$47.5M	$7.5M	50x
Extended ADA-USD	+0.0104%	1h	0.2450	+0.058%	$514K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2453	+0.167%	$21K	$250	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2453	+0.163%	$382K	$8.5M	50x	as long as short
Lighter ADA	+0.0136%	1h	0.2452	+0.102%	$2.4M	$1.0M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2450	+0.057%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0170%	1h	0.2450	+0.051%	$6.3M	$13.9M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0177%	1h	0.2450	+0.041%	$139K	$483K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	+0.163%	$4.4M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0274%	1h	0.2449	+0.001%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0301%	1h	0.2452	+0.110%	$43.1M	$18.1M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0485%	1h	0.2451	+0.090%	$626K	$616K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0631% / S −0.0728%	1h	0.2449	+0.017%	$164K	—	100x	as long as short