Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.023%

Price spread now: MEXC against dYdX0.000%47s7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$286as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2952.954% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 4 days (all we have)+0.035%+$4 · spread now 0.000%, 7d avg +0.001%

Together, before fees+0.131%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2444	0	get 0.0000% / 1h	47m 55s	$201K	$3K	10x
Short	MEXC ADA_USDT	0.2444	0.0100	get 0.0100% / 8h	4h 47m	$60.9M	$59.9M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against dYdX. 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 dYdXbpFee MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $21
Price spread: 0.000% → +0.001%: −$0.06
Slippage, 4 orders: −$285.44
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$274.5
Costs to cover: 2.954%
Break-even: 98.5 days

Slippage from dYdX: live order book, 11 min ago; MEXC: live order book, 1 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 dYdX live order book, 11 min ago	140.67 bp	145.7 bp −$146	173.3 bp −$1,733	246.9 bp −$24.7K	486.9 bp −$243.4K
Sell MEXC live order book, 1 min ago	2.05 bp	2.0 bp −$2	4.6 bp −$46	14.9 bp −$1,487	35.0 bp −$17.5K

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-USDlong	0.0000%	1h	0.2444	long leg	$201K	$3K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2446	+0.082%	$153K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2444	+0.016%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.105%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2445	+0.041%	$430K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0093%	1h	0.2444	−0.016%	$6.2M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2445	+0.058%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2445	+0.030%	$1.2M	$982K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2445	+0.039%	$159K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2445	+0.026%	$103.3M	$372.8M	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	0.2443	−0.041%	$71.2M	$111.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2445	+0.041%	$32.5M	$105.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2443	−0.041%	$97.8M	$59.0M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2444	0.000%	$60.9M	$59.9M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	+0.029%	$29.5M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2444	0.000%	$65.6M	$50.1M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2445	+0.041%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2445	+0.045%	$124K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	+0.167%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2459	+0.595%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.557%	$287K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2449	+0.205%	$226K	$741K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2446	+0.070%	$92K	$685K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2444	0.000%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2445	+0.055%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.165%	$9K	$740K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2444	+0.017%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2445	+0.060%	$1.3M	$6.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2444	0.000%	$47.6M	$6.5M	50x	as long as short
Hyperliquid ADA	+0.0102%	1h	0.2447	+0.103%	$42.5M	$14.9M	10x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2444	+0.014%	$530K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2445	+0.060%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0195%	1h	0.2450	+0.246%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2446	+0.082%	$4.5M	$5.7M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2444	+0.020%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0390% / S −0.0214%	1h	0.2444	−0.001%	$92K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0446%	1h	0.2446	+0.078%	$592K	$494K	50x	as long as short