Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.029%

Price spread now: BloFin against Hyperliquid−0.142%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.367%+$37 on $10k

Price spread, last 4 days (all we have)+0.479%+$48 · spread now −0.142%, 7d avg +0.044%

Together, before fees+0.847%+ Points / potential airdropHyperliquid: Season 2 · farm board+$85 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.186% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.142% now, against its 7-day average of +0.044%). If the spread goes back, that is −$19 on $10k: about 5.2 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2464	0.0100	pay 0.0013% / 1h	55m 04s	$42.8M	$14.9M	10x
Short	BloFin ADA-USDT	0.2460	0.0220	get 0.0220% / 8h	4h 55m	$4.5M	$5.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.142%Rate

Funding earned: $25.15
Price spread: −0.142% → +0.044%: −$18.56
Slippage, 4 orders: −$16.97
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$31.38
Costs to cover: 0.380%
Break-even: 15.7 days

Slippage from Hyperliquid: live order book, 8 min ago; BloFin: live order book, 4 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, 8 min ago	0.81 bp	6.8 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	6.10 bp	12.1 bp −$12	12.1 bp −$121	19.0 bp −$1,896	47.7 bp −$23.9K

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	0.2460	−0.159%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2461	−0.101%	$140K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2460	−0.123%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.304%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2459	−0.183%	$412K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2461	−0.116%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2463	−0.028%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2462	−0.055%	$1.2M	$979K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2461	−0.121%	$160K	$161K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2462	−0.041%	$103.9M	$372.6M	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	0.2461	−0.101%	$71.8M	$111.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2463	−0.020%	$32.7M	$106.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2461	−0.101%	$98.5M	$58.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2461	−0.101%	$61.4M	$59.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2462	−0.073%	$29.7M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2461	−0.101%	$66.1M	$50.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2461	−0.101%	—	$20.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2462	−0.049%	$126K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	−0.057%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.460%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.525%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2449	−0.589%	$226K	$740K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2461	−0.114%	$92K	$683K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	−0.101%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2462	−0.043%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2463	−0.019%	$8K	$742K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2461	−0.093%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2461	−0.121%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2462	−0.061%	$48.0M	$6.5M	50x	as long as short
Hyperliquid ADAlong	+0.0100%	1h	0.2464	long leg	$42.8M	$14.9M	10x
Extended ADA-USD	+0.0104%	1h	0.2460	−0.123%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2462	−0.071%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2459	−0.166%	$4K	$100K	10x	as long as short
BloFin ADA-USDTshort	+0.0220%	8h	0.2460	−0.142%	$4.5M	$5.8M	75x
Reya ADARUSDPERP	+0.0279%	1h	0.2460	−0.162%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0481%	1h	0.2463	−0.032%	$588K	$485K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0548% / S −0.0339%	1h	0.2460	−0.134%	$121K	—	100x	as long as short