Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.013%

Price spread now: BingX against Coinbase International+0.204%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

Price spread, last 3 days (all we have)−0.519%−$52 · spread now +0.204%, 7d avg +0.026%

Together, before fees−0.387%−$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BingX is 0.178% dearer against Coinbase International than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2452	0.0056	pay 0.0007% / 1h	22m 34s	$411K	$7.2M	50x
Short	BingX ADA-USDT	0.2457	0.0100	get 0.0100% / 8h	2h 22m	—	$20.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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 Coinbase InternationalbpFee BingXbpOrdersPrice spread, now +0.204%Rate

Funding earned: $9.24
Price spread: +0.204% → +0.026%: $17.77
Slippage, 4 orders: −$13.1
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$6.09
Costs to cover: 0.331%
Break-even: 11.6 days

Slippage from Coinbase International: live order book, 1 min ago; BingX: live order book, 11 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 Coinbase International live order book, 1 min ago	2.04 bp	8.1 bp −$8	15.3 bp −$153	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	2.05 bp	7.0 bp −$7	7.0 bp −$70	13.8 bp −$1,378	32.5 bp −$16.2K

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	0.2454	+0.088%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2454	+0.082%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	+0.110%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0056%	1h	0.2452	long leg	$411K	$7.2M	50x
Lighter ADA	+0.0096%	1h	0.2457	+0.192%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.163%	$42.6M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.139%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.139%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2460	+0.326%	$101.6M	$354.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2461	+0.367%	$70.8M	$99.7M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2463	+0.449%	$31.9M	$105.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	+0.082%	$97.0M	$57.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2457	+0.204%	$52.7M	$56.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	+0.110%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2457	+0.204%	$65.8M	$42.7M	75x	as long as short
BingX ADA-USDTshort	+0.0100%	8h	0.2457	+0.204%	—	$20.4M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	+0.143%	$101K	$409K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	+0.180%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.077%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	+0.040%	$289K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.082%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.126%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2455	+0.122%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.134%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	+0.164%	$9K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	+0.143%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2455	+0.119%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	+0.082%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2456	+0.153%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2457	+0.213%	$558K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2455	+0.131%	$4K	$82K	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0198%	1h	0.2456	+0.167%	$477K	$353K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.204%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2455	+0.134%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2455	+0.134%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2454	+0.096%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.489%	$838	$131K	12x	as long as short