Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: Binance against Hyperliquid−0.040%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 7 days+0.020%+$2 · spread now −0.040%, 7d avg +0.005%

Together, before fees+0.138%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 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: Binance is 0.045% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2451	0.0100	pay 0.0013% / 1h	51m 34s	$42.7M	$14.3M	10x
Short	Binance ADAUSDT	0.2450	0.0100	get 0.0100% / 8h	6h 51m	$102.0M	$374.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.040%Rate

Funding earned: $0
Price spread: −0.040% → +0.005%: −$4.5
Slippage, 4 orders: −$12.57
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$36.06
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Binance: 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 Hyperliquid live order book, 12 min ago	1.63 bp	9.5 bp −$10	12.9 bp −$129	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	2.04 bp	7.0 bp −$7	12.2 bp −$122	32.3 bp −$3,225	96.6 bp −$48.3K

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	0.2448	−0.122%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2453	+0.082%	$205K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2452	+0.041%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.816%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2455	+0.163%	$410K	$7.4M	50x	as long as short
Hyperliquid ADAlong	+0.0100%	1h	0.2451	long leg	$42.7M	$14.3M	10x
Aster ADAUSDT	+0.0100%	8h	0.2451	+0.015%	$1.2M	$968K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2448	−0.114%	$157K	$156K	10x	as long as short
Binance ADAUSDTshort	+0.0100%	8h	0.2450	−0.040%	$102.0M	$374.5M	75x
Bybit ADAUSDT	+0.0100%	8h	0.2448	−0.122%	$72.0M	$107.8M	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	−0.163%	$32.4M	$108.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2447	−0.163%	$98.1M	$58.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2448	−0.122%	$50.1M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2449	−0.098%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2449	−0.082%	$65.6M	$46.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2449	−0.082%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	+0.171%	$129K	$422K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2434	−0.689%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2444	−0.303%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.286%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	−0.163%	$56K	$587K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.159%	$92K	$655K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2452	+0.041%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	+0.091%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.123%	$9K	$773K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2453	+0.086%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	+0.220%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	+0.122%	$47.8M	$6.4M	50x	as long as short
Lighter ADA	+0.0104%	1h	0.2450	−0.061%	$2.4M	$1.0M	10x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	−0.066%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2448	−0.139%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2441	−0.408%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2448	−0.122%	$4.5M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2454	+0.123%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2453	+0.069%	$6.2M	$12.0M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0362%	1h	0.2454	+0.102%	$499K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0622% / S −0.0389%	1h	0.2452	+0.024%	$140K	—	100x	as long as short