Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Gate against ApeX Omni−0.281%66s7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$590.588% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.281%, 7d avg −0.056%

Together, before fees+0.070%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.225% cheaper against ApeX Omni than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.056%. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ADAUSDT	0.2488	0.0100	pay 0.0013% / 1h	20m 29s	$72K	$899K	50x
Short	Gate ADA_USDT	0.2481	0.0100	get 0.0100% / 8h	6h 20m	$102.2M	$61.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against ApeX Omni. 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 ApeX OmnibpFee GatebpOrdersPrice spread, now −0.281%Rate

Funding earned: $0
Price spread: −0.281% → −0.056%: −$22.53
Slippage, 4 orders: −$33.84
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$81.37
Costs to cover: 0.588%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 31 min ago; Gate: live order book, 2 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 ApeX Omni live order book, 31 min ago	6.05 bp	15.1 bp −$15	48.1 bp −$481	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.01 bp	13.2 bp −$13	17.0 bp −$170	86.0 bp −$8,597	doesn't fit

ADA on 36 exchanges

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	0.2482	−0.230%	$207K	$5K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2486	−0.080%	$206K	$7.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2483	−0.190%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.683%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2483	−0.197%	$2.4M	$959K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2483	−0.214%	$1.2M	$1.3M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2482	−0.221%	$159K	$164K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2483	−0.201%	$106.5M	$394.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2481	−0.281%	$74.3M	$124.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2481	−0.281%	$33.0M	$112.2M	50x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDTshort	+0.0100%	8h	0.2481	−0.281%	$102.2M	$61.3M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2482	−0.241%	$49.8M	$70.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2483	−0.205%	$29.8M	$15.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2482	−0.241%	$67.9M	$51.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2483	−0.201%	—	$19.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2484	−0.161%	$140K	$459K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2482	−0.242%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2487	−0.048%	$66K	$289K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2485	−0.104%	$297K	$3.6M	10x	as long as short
ApeX Omni ADAUSDTlong	+0.0100%	1h	0.2488	long leg	$72K	$899K	50x
Polymarket Perps ADA-USD	+0.0100%	1h	0.2482	−0.225%	$119K	$1.3M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2481	−0.281%	$6K	$4K	20x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2487	−0.040%	$8K	$702K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2483	−0.181%	$342	$6K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2484	−0.156%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2484	−0.161%	$48.0M	$7.7M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2482	−0.249%	$20K	$589	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2483	−0.211%	$547K	$1.7M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2484	−0.161%	$412K	$8.5M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0147%	1h	0.2484	−0.170%	$6.4M	$13.7M	50x	as long as short
Phoenix ADA	+0.0192%	1h	0.2483	−0.185%	$3K	$107K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2485	−0.121%	$4.6M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0270%	1h	0.2481	−0.286%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0313%	1h	0.2485	−0.105%	$44.3M	$17.8M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0314%	1h	0.2485	−0.137%	$621K	$757K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0370% / S −0.0295%	1h	0.2480	−0.301%	$88K	—	100x	as long as short