Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0520%/8h= −56.9% APRpaid last 24h −0.110%

Price spread now: Paradex against GMX−0.011%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Paradex

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$16 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2479	L +0.0621% / S −0.0580%	pay 0.0078% / 1h	20m 34s	$140K	—	100x
Short	Paradex ADA-USD-PERP	0.2478	0.0101	get 0.0101% / 8h	3h 20m	$21K	$250	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$109.12
Price spread: −0.011% → 0.000%: −$1.13
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$126.25
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

GMX and Paradex: 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	0.2475	−0.163%	$204K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2481	+0.097%	$146K	$6.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2478	−0.009%	$85K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2479	+0.014%	$6.3M	$13.2M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.307%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2478	−0.024%	$393K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2475	−0.137%	$2.5M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2476	−0.111%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2475	−0.151%	$159K	$169K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2477	−0.046%	$105.4M	$386.7M	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	0.2477	−0.065%	$74.8M	$114.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2480	+0.056%	$33.1M	$111.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2476	−0.105%	$100.5M	$61.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2477	−0.065%	$59.8M	$62.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2473	−0.230%	$29.6M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2478	−0.024%	$67.5M	$51.5M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2478	−0.024%	—	$19.9M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2477	−0.062%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2486	+0.317%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2486	+0.299%	$301K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2486	+0.299%	$229K	$755K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2480	+0.052%	$94K	$630K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2479	+0.016%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2480	+0.044%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2480	+0.054%	$8K	$740K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2480	+0.036%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2479	+0.036%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2478	−0.024%	$48.3M	$7.0M	50x	as long as short
Paradex ADA-USD-PERPshort	+0.0101%	8h	0.2478	−0.011%	$21K	$250	20x
Extended ADA-USD	+0.0104%	1h	0.2478	−0.011%	$538K	$1.8M	50x	as long as short
Phoenix ADA	+0.0161%	1h	0.2492	+0.553%	$4K	$95K	10x	as long as short
Backpack ADA_USDC_PERP	+0.0216%	1h	0.2478	−0.036%	$130K	$468K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2479	+0.016%	$4.6M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2480	+0.055%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0380%	1h	0.2475	−0.157%	$44.1M	$16.2M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0436%	1h	0.2480	+0.077%	$610K	$533K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0621% / S −0.0580%	1h	0.2479	long leg	$140K	—	100x