Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: dYdX against SunX−0.056%7-day average −0.043% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$316as in the Price arb table

costs, in and out, $10k−$3153.147% of the position

Long on SunX Short on dYdX

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)−0.066%−$7 · spread now −0.056%, 7d avg −0.043%

Together, before fees−0.249%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.043%, 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	SunX ADA-USDT	0.2490	0.0100	pay 0.0100% / 8h	3h 26m	$8K	$737K	30x
Short	dYdX ADA-USD	0.2489	0	get 0.0000% / 1h	26m 39s	$205K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$21
Price spread: −0.056% → −0.043%: −$1.27
Slippage, 4 orders: −$296.73
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$337
Costs to cover: 3.147%
Break-even: never at this rate

Slippage from SunX: live order book, 55 min ago; dYdX: live order book, 27 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 SunX live order book, 55 min ago	20.78 bp	24.8 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 27 min ago	125.97 bp	131.0 bp −$131	131.0 bp −$1,310	131.0 bp −$13.1K	131.2 bp −$65.6K

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-USDshort	0.0000%	1h	0.2489	−0.056%	$205K	$2K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2493	+0.122%	$149K	$6.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2489	−0.026%	$85K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2491	+0.029%	$6.4M	$13.0M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.761%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2494	+0.163%	$386K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2491	+0.054%	$2.5M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2490	+0.008%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2490	−0.003%	$160K	$169K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2490	+0.002%	$106.1M	$383.7M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2489	−0.038%	$75.1M	$113.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2490	+0.002%	$33.4M	$110.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2489	−0.038%	$101.9M	$61.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2489	−0.038%	$60.1M	$62.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2489	−0.022%	$29.8M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2489	−0.038%	$67.7M	$51.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2489	−0.038%	—	$20.1M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2504	+0.567%	$4.4M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2504	+0.581%	$67K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2503	+0.533%	$293K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2505	+0.604%	$231K	$753K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2490	+0.018%	$93K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2489	−0.038%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2489	−0.035%	$40K	$2K	5x	as long as short
SunX ADA-USDTlong	+0.0100%	8h	0.2490	long leg	$8K	$737K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2491	+0.042%	$343	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2490	+0.017%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2491	+0.042%	$48.5M	$6.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2490	+0.009%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2488	−0.087%	$540K	$1.8M	50x	as long as short
Phoenix ADA	+0.0161%	1h	0.2510	+0.785%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2492	+0.082%	$4.6M	$5.9M	75x	as long as short
Backpack ADA_USDC_PERP	+0.0273%	1h	0.2490	+0.022%	$138K	$461K	15x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2490	+0.020%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0450%	1h	0.2491	+0.034%	$44.6M	$16.0M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0473%	1h	0.2490	+0.010%	$612K	$533K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0615% / S −0.0569%	1h	0.2489	−0.048%	$138K	—	100x	as long as short