Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Phemex+0.020%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on gTrade (Gains Network)

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2453	0.0100	pay 0.0100% / 8h	12m 14s	$47.5M	$7.6M	50x
Short	gTrade (Gains Network) ADA/USD	0.2453	L +0.0005% / S −0.0003%	get 0.0000% / 1h	12m 14s	$84K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phemex. 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 PhemexbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.020%Rate

Funding earned: −$20.35
Price spread: +0.020% → 0.000%: $1.96
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$40.39
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; gTrade (Gains Network): 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 Phemex live order book, 2 min ago	2.04 bp	8.0 bp −$8	11.8 bp −$118	35.3 bp −$3,526	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	0.2455	+0.062%	$202K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USDshort	L +0.0005% / S −0.0003%	1h	0.2453	+0.020%	$84K	—	150x
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.734%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2456	+0.139%	$2.4M	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	0.000%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.082%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.065%	$157K	$180K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	+0.082%	$103.7M	$407.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	+0.041%	$73.1M	$126.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	+0.082%	$32.6M	$118.9M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2454	+0.041%	$100.2M	$65.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2455	+0.082%	$52.4M	$66.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	+0.094%	$29.7M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	+0.041%	$66.6M	$54.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2455	+0.082%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	+0.102%	$141K	$485K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	−0.199%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2449	−0.168%	$66K	$289K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	−0.160%	$290K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2449	−0.163%	$76K	$895K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.073%	$124K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.084%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	+0.080%	$8K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2454	+0.024%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2455	+0.082%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2453	long leg	$47.5M	$7.6M	50x
Kalshi KXADAPERP	+0.0104%	8h	0.2454	+0.041%	$232K	$7.7M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	−0.004%	$503K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2455	+0.080%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0131%	1h	0.2457	+0.167%	$43.4M	$18.2M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2447	−0.245%	$377K	$8.4M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2455	+0.082%	$4.5M	$5.9M	75x	as long as short
Phoenix ADA	+0.0228%	1h	0.2451	−0.090%	$2K	$112K	10x	as long as short
Reya ADARUSDPERP	+0.0273%	1h	0.2456	+0.105%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0279%	1h	0.2453	+0.012%	$6.3M	$14.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0370% / S −0.0295%	1h	0.2454	+0.040%	$87K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0484%	1h	0.2455	+0.086%	$625K	$614K	50x	as long as short