Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against BingX+0.041%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 3 days (all we have)+0.049%+$5 · spread now +0.041%, 7d avg +0.004%

Together, before fees+0.028%+$3 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: Phemex is 0.037% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ADA-USDT	0.2431	0.0100	pay 0.0100% / 8h	4h 05m	—	$18.9M	—
Short	Phemex ADAUSDT	0.2432	0.0100	get 0.0100% / 8h	4h 05m	$47.3M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → +0.004%: $3.7
Slippage, 4 orders: −$12.12
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$30.42
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Phemex: live order book, 3 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, 7 min ago	2.06 bp	7.1 bp −$7	7.1 bp −$71	14.2 bp −$1,419	25.2 bp −$12.6K
Sell Phemex live order book, 3 min ago	2.05 bp	12.0 bp −$12	18.1 bp −$181	49.6 bp −$4,956	doesn't fit

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
Injective ADA/USDC PERP	−0.0071%	1h	0.2441	+0.411%	$838	$97K	12x	as long as short
dYdX ADA-USD	0.0000%	1h	0.2433	+0.077%	$200K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2433	+0.082%	$131K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2432	+0.034%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2430	−0.041%	$454K	$7.0M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2433	+0.086%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2433	+0.070%	$42.3M	$13.9M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2432	+0.030%	$1.1M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2432	+0.047%	$155K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2432	+0.041%	$101.3M	$345.6M	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	0.2430	−0.041%	$70.7M	$99.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2431	0.000%	$32.2M	$102.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2430	−0.041%	$95.7M	$56.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2432	+0.041%	$52.3M	$57.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2432	+0.041%	$30.3M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2432	+0.041%	$64.3M	$41.9M	75x	as long as short
BingX ADA-USDTlong	+0.0100%	8h	0.2431	long leg	—	$18.9M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2432	+0.029%	$104K	$421K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2434	+0.143%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2436	+0.207%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2435	+0.180%	$294K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2435	+0.165%	$55K	$573K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2432	+0.033%	$93K	$730K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2431	0.000%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2432	+0.044%	$39K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2433	+0.083%	$9K	$751K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2432	+0.021%	$334	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2432	+0.054%	$1.3M	$4.6M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2432	+0.041%	$47.3M	$5.3M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2432	+0.057%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2431	−0.007%	$586K	$1.8M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0161%	1h	0.2432	+0.058%	$475K	$360K	50x	as long as short
Phoenix ADA	+0.0197%	1h	0.2437	+0.234%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2433	+0.082%	$4.4M	$5.1M	75x	as long as short
Reya ADARUSDPERP	+0.0289%	1h	0.2431	−0.005%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0426%	1h	0.2432	+0.044%	$6.1M	$10.8M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0436% / S −0.0207%	1h	0.2431	+0.006%	$95K	—	100x	as long as short