Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: dYdX against SunX−0.085%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$381as in the Funding arb table

Net, price: spread back to 7d avg − costs−$367as in the Price arb table

costs, in and out, $10k−$3633.626% of the position

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now −0.085%, 7d avg −0.045%

Together, before fees−0.227%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.041% cheaper against SunX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ADA-USDT	0.2457	0.0100	pay 0.0100% / 8h	6h 00m	$9K	$749K	30x
Short	dYdX ADA-USD	0.2455	0	get 0.0000% / 1h	0m 23s	$202K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$21
Price spread: −0.085% → −0.045%: −$4.07
Slippage, 4 orders: −$344.6
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$387.67
Costs to cover: 3.626%
Break-even: never at this rate

Slippage from SunX: live order book, 41 min ago; dYdX: live order book, 4 min ago.

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 SunX live order book, 41 min ago	20.79 bp	24.8 bp −$25	31.7 bp −$317	doesn't fit	doesn't fit
Sell dYdX live order book, 4 min ago	150.28 bp	155.3 bp −$155	155.3 bp −$1,553	155.3 bp −$15.5K	165.3 bp −$82.7K

ADA on 36 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-USDshort	0.0000%	1h	0.2455	−0.085%	$202K	$3K	10x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.143%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.573%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2457	+0.003%	$410K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2457	+0.003%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2456	−0.029%	$1.2M	$983K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2457	−0.005%	$158K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	−0.079%	$103.0M	$367.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	−0.119%	$72.3M	$107.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2454	−0.119%	$32.7M	$105.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2454	−0.119%	$98.5M	$60.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2455	−0.079%	$63.9M	$55.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2456	−0.046%	$29.9M	$17.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	−0.119%	$65.7M	$47.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	−0.079%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2457	−0.009%	$132K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	−0.035%	$4.2M	$991K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2462	+0.207%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2461	+0.183%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2463	+0.247%	$56K	$590K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2456	−0.050%	$94K	$671K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	−0.119%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.092%	$40K	$3K	5x	as long as short
SunX ADA-USDTlong	+0.0100%	8h	0.2457	long leg	$9K	$749K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2457	+0.023%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2455	−0.093%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2457	+0.003%	$47.8M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	−0.061%	$534K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0106%	8h	0.2456	−0.038%	$139K	$6.2M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2457	−0.008%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2461	+0.182%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0200%	1h	0.2459	+0.068%	$2.4M	$1.0M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0279%	1h	0.2457	+0.015%	$502K	$470K	50x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2453	−0.140%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2456	−0.027%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2453	−0.158%	$95K	—	100x	as long as short