Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0524%/8h= −57.4% APRpaid last 24h −0.113%

Price spread now: Gate against GMX−0.162%7-day average −0.046% · you buy dearer than you sell

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

Long on GMX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.358%−$36 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now −0.162%, 7d avg −0.046%

Together, before fees−0.424%−$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Gate is 0.116% cheaper against GMX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2468	L +0.0624% / S −0.0585%	pay 0.0078% / 1h	2m 34s	$140K	—	100x
Short	Gate ADA_USDT	0.2464	0.0100	get 0.0100% / 8h	3h 02m	$99.8M	$63.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.162%Rate

Funding earned: −$110.01
Price spread: −0.162% → −0.046%: −$11.61
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$148.61
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Gate: live order book, 1 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 Gate live order book, 1 min ago	2.03 bp	13.5 bp −$13	17.1 bp −$171	91.3 bp −$9,125	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	0.2466	−0.099%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2471	+0.122%	$136K	$6.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2468	+0.017%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2469	+0.024%	$6.3M	$13.2M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.122%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2467	−0.041%	$404K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2467	−0.020%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2466	−0.065%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2466	−0.089%	$158K	$170K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2465	−0.102%	$103.8M	$391.7M	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	0.2464	−0.162%	$73.9M	$116.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2465	−0.122%	$33.0M	$111.7M	50x	as long as short
Gate ADA_USDTshort	+0.0100%	8h	0.2464	−0.162%	$99.8M	$63.2M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2464	−0.162%	$59.1M	$62.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2465	−0.113%	$29.6M	$15.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2464	−0.162%	$66.9M	$51.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2465	−0.122%	—	$19.9M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2474	+0.246%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2474	+0.246%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2473	+0.211%	$290K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2469	+0.041%	$228K	$757K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2470	+0.085%	$93K	$632K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2469	+0.041%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2469	+0.050%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	+0.079%	$8K	$748K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2469	+0.020%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2468	+0.002%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2468	0.000%	$48.1M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2466	−0.070%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2463	−0.188%	$536K	$1.8M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0127%	1h	0.2468	−0.004%	$123K	$471K	15x	as long as short
Phoenix ADA	+0.0161%	1h	0.2475	+0.276%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2476	+0.324%	$4.5M	$5.8M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0236%	1h	0.2469	+0.053%	$607K	$533K	50x	as long as short
Hyperliquid ADA	+0.0236%	1h	0.2467	−0.020%	$43.9M	$16.3M	10x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2470	+0.061%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0624% / S −0.0585%	1h	0.2468	long leg	$140K	—	100x