Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.059%

Price spread now: BloFin against dYdX+0.137%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$202as in the Price arb table

costs, in and out, $10k−$2102.099% of the position

Long on dYdX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.347%+$35 on $10k

Price spread, last 3 days (all we have)+0.046%+$5 · spread now +0.137%, 7d avg +0.055%

Together, before fees+0.394%+$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.081% dearer against dYdX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2469	0	get 0.0000% / 1h	30m 49s	$203K	$4K	10x
Short	BloFin ADA-USDT	0.2472	0.0220	get 0.0220% / 8h	7h 30m	$4.4M	$5.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against dYdX. 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 dYdXbpFee BloFinbpOrdersPrice spread, now +0.137%Rate

Funding earned: $46.2
Price spread: +0.137% → +0.055%: $8.15
Slippage, 4 orders: −$187.92
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$155.57
Costs to cover: 2.099%
Break-even: 30.6 days

Slippage from dYdX: live order book, 43 min ago; BloFin: 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 dYdX live order book, 43 min ago	89.91 bp	94.9 bp −$95	119.2 bp −$1,192	123.1 bp −$12.3K	123.4 bp −$61.7K
Sell BloFin live order book, 3 min ago	4.05 bp	10.1 bp −$10	16.9 bp −$169	30.3 bp −$3,033	54.8 bp −$27.4K

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-USDlong	0.0000%	1h	0.2469	long leg	$203K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2471	+0.096%	$184K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2471	+0.077%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.096%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2470	+0.056%	$422K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2469	+0.001%	$6.2M	$11.7M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2467	−0.082%	$4K	$84K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2470	+0.059%	$1.2M	$947K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2471	+0.098%	$159K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2468	−0.011%	$102.3M	$365.4M	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	0.2468	−0.026%	$72.5M	$104.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2469	+0.015%	$32.6M	$107.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2468	−0.026%	$98.2M	$58.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2468	−0.026%	$52.9M	$51.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2469	−0.005%	$30.2M	$17.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2468	−0.026%	$66.3M	$44.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2468	−0.026%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2469	+0.015%	$119K	$409K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2470	+0.060%	$4.2M	$942K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2461	−0.304%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2462	−0.272%	$288K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2466	−0.107%	$56K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2471	+0.096%	$94K	$645K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2469	+0.015%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2469	+0.030%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	+0.054%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2470	+0.035%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2472	+0.121%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2468	−0.026%	$48.2M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0102%	8h	0.2472	+0.152%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2468	−0.026%	$550K	$1.8M	50x	as long as short
Lighter ADA	+0.0112%	1h	0.2470	+0.056%	$2.5M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0155%	1h	0.2471	+0.088%	$43.2M	$14.4M	10x	as long as short
BloFin ADA-USDTshort	+0.0220%	8h	0.2472	+0.137%	$4.4M	$5.5M	75x
Reya ADARUSDPERP	+0.0283%	1h	0.2472	+0.117%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0317%	1h	0.2470	+0.047%	$496K	$434K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0627% / S −0.0393%	1h	0.2470	+0.061%	$142K	—	100x	as long as short