Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0517%/8h= −56.6% APRpaid last 24h −0.110%

Price spread now: BingX against GMX+0.047%7-day average — · you sell dearer than you buy

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

Long on GMX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. BingX is 0.047% dearer against GMX than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2502	L +0.0617% / S −0.0569%	pay 0.0077% / 1h	29m 18s	$139K	—	100x
Short	BingX ADA-USDC	0.2503	0.0100	get 0.0100% / 8h	3h 29m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$108.52
Price spread: +0.047% → 0.000%: $4.72
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$125.8
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BingX: live order book, 7 min ago. 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 BingX live order book, 7 min ago	3.99 bp	15.3 bp −$15	22.4 bp −$224	85.6 bp −$8,561	728.0 bp −$364.0K

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	0.2505	+0.108%	$206K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2509	+0.287%	$152K	$6.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2502	+0.018%	$86K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0025%	1h	0.2506	+0.174%	$6.4M	$13.0M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−1.232%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2508	+0.247%	$388K	$8.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2507	+0.207%	$2.5M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2504	+0.095%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2506	+0.151%	$161K	$169K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2504	+0.087%	$106.8M	$383.1M	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	0.2502	+0.007%	$75.5M	$113.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2503	+0.047%	$33.6M	$111.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2502	+0.007%	$102.4M	$61.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2503	+0.047%	$61.1M	$61.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2504	+0.067%	$30.1M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2502	+0.007%	$68.0M	$51.3M	75x	as long as short
BingX ADA-USDCshort	+0.0100%	8h	0.2503	+0.047%	—	$6.6M	—
Variational Omni ADA	+0.0100%	8h	0.2504	+0.090%	$4.4M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2504	+0.074%	$67K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2504	+0.100%	$303K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2505	+0.127%	$231K	$753K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2503	+0.059%	$96K	$618K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2502	+0.007%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2503	+0.029%	$41K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2508	+0.245%	$9K	$738K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2506	+0.187%	$345	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2507	+0.208%	$1.4M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2506	+0.167%	$48.8M	$6.9M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2503	+0.059%	$542K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0113%	8h	0.2500	−0.054%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0161%	1h	0.2510	+0.307%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2508	+0.247%	$4.7M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2504	+0.085%	$1K	—	15x	as long as short
Backpack ADA_USDC_PERP	+0.0315%	1h	0.2506	+0.159%	$139K	$461K	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0350%	1h	0.2503	+0.051%	$615K	$533K	50x	as long as short
Hyperliquid ADA	+0.0468%	1h	0.2505	+0.115%	$44.8M	$16.0M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0617% / S −0.0569%	1h	0.2502	long leg	$139K	—	100x