Funding arb · Price arb /

ADA

all ADA markets

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 BingX+0.100%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$290as in the Funding arb table

Net, price: spread back to 7d avg − costs−$264as in the Price arb table

costs, in and out, $10k−$2762.759% of the position

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.139%−$14 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.100%, 7d avg −0.014%

Together, before fees−0.275%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.115% dearer against BingX than usual: you sell high and buy low (spread +0.100% now, against its 7-day average of −0.014%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ADA-USDT	0.2497	0.0100	pay 0.0100% / 8h	3h 28m	—	$20.0M	—
Short	dYdX ADA-USD	0.2500	0	get 0.0000% / 1h	28m 32s	$206K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BingX. 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 BingXbpFee dYdXbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$21
Price spread: +0.100% → −0.014%: $11.45
Slippage, 4 orders: −$255.94
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$285.49
Costs to cover: 2.759%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; dYdX: live order book, 25 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 BingX live order book, 10 min ago	1.99 bp	7.0 bp −$7	7.0 bp −$70	16.2 bp −$1,621	35.5 bp −$17.8K
Sell dYdX live order book, 25 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	0.2500	+0.100%	$206K	$2K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2504	+0.280%	$152K	$6.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2502	+0.211%	$86K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0025%	1h	0.2503	+0.230%	$6.4M	$13.0M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−1.041%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2508	+0.441%	$388K	$8.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2501	+0.164%	$2.5M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2499	+0.061%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2500	+0.113%	$161K	$169K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2498	+0.034%	$106.5M	$383.2M	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	0.2495	−0.080%	$75.3M	$113.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2496	−0.040%	$33.5M	$110.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2497	0.000%	$102.2M	$61.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2494	−0.120%	$60.2M	$62.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2500	+0.108%	$30.1M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2495	−0.080%	$67.9M	$51.4M	75x	as long as short
BingX ADA-USDTlong	+0.0100%	8h	0.2497	long leg	—	$20.0M	—
Variational Omni ADA	+0.0100%	8h	0.2504	+0.283%	$4.4M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2504	+0.267%	$67K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2504	+0.293%	$303K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2505	+0.320%	$231K	$753K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2496	−0.056%	$95K	$618K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2502	+0.200%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2503	+0.222%	$41K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2507	+0.399%	$9K	$737K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2502	+0.220%	$344	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2505	+0.310%	$1.4M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2502	+0.200%	$48.8M	$6.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2497	+0.019%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2496	−0.030%	$542K	$1.8M	50x	as long as short
Phoenix ADA	+0.0161%	1h	0.2510	+0.501%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2502	+0.200%	$4.7M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2494	−0.102%	$1K	—	15x	as long as short
Backpack ADA_USDC_PERP	+0.0308%	1h	0.2501	+0.172%	$139K	$461K	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0350%	1h	0.2503	+0.244%	$615K	$533K	50x	as long as short
Hyperliquid ADA	+0.0459%	1h	0.2498	+0.032%	$44.7M	$16.0M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0617% / S −0.0569%	1h	0.2502	+0.193%	$139K	—	100x	as long as short