Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.009%

Price spread now: MEXC against Coinbase International+0.204%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 3 days (all we have)−0.190%−$19 · spread now +0.204%, 7d avg +0.014%

Together, before fees−0.100%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 0.189% dearer against Coinbase International than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2453	0.0048	pay 0.0006% / 1h	5m 35s	$403K	$7.4M	50x
Short	MEXC ADA_USDT	0.2458	0.0100	get 0.0100% / 8h	6h 05m	$59.1M	$52.9M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now +0.204%Rate

Funding earned: $10.92
Price spread: +0.204% → +0.014%: $18.94
Slippage, 4 orders: −$14.55
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $5.31
Costs to cover: 0.246%
Break-even: 3.6 days

Slippage from Coinbase International: live order book, 3 min ago; MEXC: live order book, 3 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 Coinbase International live order book, 3 min ago	4.09 bp	9.1 bp −$9	18.4 bp −$184	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	2.04 bp	2.0 bp −$2	3.5 bp −$35	23.1 bp −$2,306	61.6 bp −$30.8K

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-USD	0.0000%	1h	0.2457	+0.167%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2458	+0.221%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.734%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0048%	1h	0.2453	long leg	$403K	$7.4M	50x
Hyperliquid ADA	+0.0100%	1h	0.2462	+0.347%	$42.9M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2459	+0.230%	$1.2M	$978K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2458	+0.222%	$158K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2458	+0.217%	$103.2M	$369.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2459	+0.245%	$72.4M	$108.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2461	+0.326%	$32.7M	$106.9M	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	0.2457	+0.163%	$98.6M	$60.5M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2458	+0.204%	$59.1M	$52.9M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	+0.196%	$29.9M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2460	+0.285%	$66.0M	$47.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2458	+0.204%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2459	+0.249%	$127K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2459	+0.247%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2455	+0.074%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2446	−0.305%	$296K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	+0.082%	$56K	$590K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2461	+0.318%	$94K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2459	+0.245%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2461	+0.309%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2461	+0.321%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2460	+0.265%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2459	+0.263%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2459	+0.245%	$47.8M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2457	+0.180%	$532K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0107%	8h	0.2456	+0.122%	$148K	$6.2M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2459	+0.251%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2449	−0.183%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0200%	1h	0.2460	+0.285%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2459	+0.265%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0353%	1h	0.2458	+0.223%	$6.2M	$12.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0360%	1h	0.2460	+0.294%	$503K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2458	+0.209%	$95K	—	100x	as long as short