Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0464%/8h= −50.8% APRpaid last 24h −0.106%

Price spread now: Aster against GMX−0.024%7-day average +0.003% · you buy dearer than you sell

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

Long on GMX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.333%−$33 on $10k

Price spread, last 3 days (all we have)−0.158%−$16 · spread now −0.024%, 7d avg +0.003%

Together, before fees−0.491%+ Points / potential airdropAster: Stage 5 · farm board−$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Aster is 0.028% cheaper against GMX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2451	L +0.0564% / S −0.0313%	pay 0.0071% / 1h	57m 48s	$122K	—	100x
Short	Aster ADAUSDT	0.2450	0.0100	get 0.0100% / 8h	7h 57m	$1.2M	$934K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$97.5
Price spread: −0.024% → +0.003%: −$2.76
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$120.26
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Aster: live order book, just now. 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, just now	2.04 bp	8.7 bp −$9	20.0 bp −$200	doesn't fit	doesn't fit

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	0.2451	−0.011%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2450	−0.031%	$205K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2451	−0.008%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.825%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2447	−0.154%	$406K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0048%	1h	0.2451	−0.007%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	+0.050%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2452	+0.058%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDTshort	+0.0100%	8h	0.2450	−0.024%	$1.2M	$934K	75x
Pacifica ADA	+0.0100%	1h	0.2451	+0.009%	$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	0.2450	−0.019%	$101.4M	$366.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2450	−0.031%	$71.4M	$104.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2451	+0.009%	$32.4M	$107.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2449	−0.072%	$97.7M	$57.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2450	−0.031%	$53.5M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	−0.031%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2451	+0.009%	$65.9M	$43.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2450	−0.031%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2452	+0.038%	$108K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.025%	$4.2M	$972K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	+0.047%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.050%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.091%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	−0.080%	$94K	$642K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2450	−0.031%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2451	+0.006%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	+0.049%	$9K	$768K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	−0.011%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2450	−0.013%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2451	+0.009%	$47.9M	$6.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2452	+0.034%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2450	−0.030%	$553K	$1.8M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2450	−0.019%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2452	+0.050%	$4.4M	$5.5M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0240%	1h	0.2452	+0.042%	$492K	$430K	50x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2449	−0.070%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0564% / S −0.0313%	1h	0.2451	long leg	$122K	—	100x