Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0213%/8h= +23.3% APRpaid last 24h +0.045%

Price spread now: GMX against Bitget−0.009%7-day average +0.024% · you buy dearer than you sell

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.146%+$15 on $10k

Price spread, last 3 days (all we have)+0.194%+$19 · spread now −0.009%, 7d avg +0.024%

Together, before fees+0.340%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.034% cheaper against Bitget than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.024%). If the spread goes back, that is −$3 on $10k: about 13 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ADAUSDT	0.2451	0.0100	pay 0.0100% / 8h	7h 58m	$65.9M	$43.9M	75x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2451	L +0.0564% / S −0.0313%	get 0.0039% / 1h	58m 20s	$122K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $44.65
Price spread: −0.009% → +0.024%: −$3.37
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $17.28
Costs to cover: 0.240%
Break-even: 4.3 days

Slippage unknown: Bitget: live order book, 11 min ago; GMX: 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 Bitget live order book, 11 min ago	2.04 bp	9.3 bp −$9	13.8 bp −$138	26.9 bp −$2,687	112.2 bp −$56.1K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
dYdX ADA-USD	0.0000%	1h	0.2448	−0.125%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2450	−0.041%	$205K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2451	−0.017%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.816%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2447	−0.163%	$406K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0048%	1h	0.2451	−0.016%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	+0.057%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2451	+0.004%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2450	−0.035%	$1.2M	$934K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2449	−0.073%	$157K	$145K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2451	−0.014%	$101.4M	$366.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2450	−0.041%	$71.4M	$104.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2451	0.000%	$32.4M	$107.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2449	−0.082%	$97.7M	$57.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	−0.082%	$53.4M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	−0.061%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDTlong	+0.0100%	8h	0.2451	long leg	$65.9M	$43.9M	75x
BingX ADA-USDC	+0.0100%	8h	0.2451	0.000%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	−0.053%	$108K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.034%	$4.2M	$972K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	+0.037%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.041%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.082%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	−0.090%	$94K	$642K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2450	−0.041%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2451	−0.003%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	+0.040%	$9K	$768K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	−0.020%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2450	−0.023%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2451	0.000%	$47.9M	$6.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2450	−0.026%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2450	−0.039%	$553K	$1.8M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2450	−0.029%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2452	+0.041%	$4.4M	$5.5M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0240%	1h	0.2452	+0.033%	$492K	$430K	50x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2449	−0.079%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0564% / S −0.0313%	1h	0.2451	−0.009%	$122K	—	100x