Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Hyperliquid against Aster+0.061%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.043%−$4 · spread now +0.061%, 7d avg −0.016%

Together, before fees−0.226%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.077% dearer against Aster than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ADAUSDT	0.2445	0.0100	pay 0.0100% / 8h	16m 34s	$1.2M	$930K	75x
Short	Hyperliquid ADA	0.2447	0.0100	get 0.0013% / 1h	16m 34s	$42.4M	$14.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Aster. 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 AsterbpFee HyperliquidbpOrdersPrice spread, now +0.061%Rate

Funding earned: $0
Price spread: +0.061% → −0.016%: $7.73
Slippage, 4 orders: −$19.01
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$28.27
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Aster: live order book, 1 min ago; Hyperliquid: live order book, 7 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 Aster live order book, 1 min ago	4.09 bp	10.2 bp −$10	23.7 bp −$237	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.41 bp	6.0 bp −$6	doesn't fit	doesn't fit	doesn't fit

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	0.2446	+0.018%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2443	−0.090%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	−0.016%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2443	−0.090%	$404K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2447	+0.074%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADAshort	+0.0100%	1h	0.2447	+0.061%	$42.4M	$14.3M	10x
Aster ADAUSDTlong	+0.0100%	8h	0.2445	long leg	$1.2M	$930K	75x
Pacifica ADA	+0.0100%	1h	0.2447	+0.053%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2445	−0.002%	$101.1M	$365.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2446	+0.033%	$71.0M	$104.0M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2447	+0.074%	$32.3M	$107.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2445	−0.008%	$97.6M	$60.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2445	−0.008%	$52.3M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2446	+0.016%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2445	−0.008%	$65.7M	$43.6M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2446	+0.033%	—	$21.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2444	−0.033%	$106K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2438	−0.288%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2441	−0.157%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2442	−0.145%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2442	−0.131%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2445	0.000%	$93K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2441	−0.172%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2441	−0.167%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2443	−0.091%	$9K	$767K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2444	−0.049%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2443	−0.107%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2444	−0.049%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2447	+0.071%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2445	−0.027%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2444	−0.046%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2440	−0.196%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2442	−0.131%	$4.3M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.055%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2445	−0.006%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2440	−0.198%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4734%	1h	0.2503	+2.347%	$502K	$431K	50x	as long as short