Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.007%

Price spread now: Bitget against Hyperliquid−0.101%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$330.335% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 7 days+0.101%+$10 · spread now −0.101%, 7d avg −0.018%

Together, before fees+0.244%+ Points / potential airdropHyperliquid: Season 2 · farm board+$24 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 Bitget is 0.083% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.018%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.143%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2469	0.0216	pay 0.0027% / 1h	6m 55s	$43.6M	$15.1M	10x
Short	Bitget ADAUSDT	0.2466	0.0100	get 0.0100% / 8h	4h 06m	$66.4M	$49.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$24.33
Price spread: −0.101% → −0.018%: −$8.33
Slippage, 4 orders: −$12.47
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$66.12
Costs to cover: 0.335%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Bitget: live order book, 2 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, 6 min ago	1.21 bp	6.4 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.02 bp	11.1 bp −$11	13.5 bp −$135	28.9 bp −$2,887	101.1 bp −$50.6K

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	0.2469	0.000%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2469	+0.020%	$160K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2469	+0.034%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.101%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2469	+0.020%	$424K	$7.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2469	+0.022%	$6.3M	$12.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2471	+0.093%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2469	+0.016%	$1.2M	$988K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2470	+0.081%	$160K	$160K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2468	−0.038%	$104.5M	$370.2M	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	0.2466	−0.101%	$72.0M	$108.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2468	−0.020%	$33.0M	$105.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2466	−0.101%	$98.4M	$59.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2467	−0.061%	$61.7M	$61.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2467	−0.041%	$29.8M	$15.0M	75x	as long as short
Bitget ADAUSDTshort	+0.0100%	8h	0.2466	−0.101%	$66.4M	$49.5M	75x
BingX ADA-USDC	+0.0100%	8h	0.2467	−0.061%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2470	+0.049%	$131K	$445K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2475	+0.265%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2476	+0.289%	$66K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2476	+0.318%	$299K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2476	+0.304%	$228K	$747K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2470	+0.053%	$95K	$689K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2470	+0.061%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2471	+0.093%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	+0.059%	$8K	$729K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2470	+0.041%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2469	+0.033%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2471	+0.101%	$48.2M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2467	−0.068%	$536K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2470	+0.063%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0195%	1h	0.2472	+0.130%	$4K	$100K	10x	as long as short
Hyperliquid ADAlong	+0.0216%	1h	0.2469	long leg	$43.6M	$15.1M	10x
BloFin ADA-USDT	+0.0220%	8h	0.2469	+0.020%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2469	+0.020%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0479%	1h	0.2471	+0.105%	$599K	$488K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0595% / S −0.0547%	1h	0.2469	+0.019%	$133K	—	100x	as long as short