ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+2.1595%/8h= +2364.7% APRnext payment +$26.99 per $10,000 · paid last 24h −0.010%

Price spread now: Deribit against Hyperliquid+2.097%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs+$180as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.123%+$12 on $10k

Price spread, last 3 days (all we have)−1.932%−$193 · spread now +2.097%, 7d avg +0.037%

Together, before fees−1.809%+ Points / potential airdropHyperliquid: Season 2 · farm board−$181 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$648 a day on $10k at the current rate, and Deribit is 2.061% dearer against Hyperliquid than usual: you sell high and buy low: +$206 more if the spread goes back to its 7-day average of +0.037%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.123% in total (about 6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$26.99 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2472	0.0100	pay 0.0013% / 1h	41m 01s	$42.8M	$14.6M	10x
Short	Deribit ADA_USDC-PERPETUAL	0.2524	2.1695	get 0.2712% / 1h	41m 01s	$490K	$349K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +2.097%Rate

Funding earned: $4,534.95
Price spread: +2.097% → +0.037%: $206.08
Slippage, 4 orders: −$10.42
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $4,714.61
Costs to cover: 0.264%
Break-even: from the start

Slippage from Hyperliquid: live order book, 12 min ago; Deribit: live order book, 43 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	0.20 bp	5.5 bp −$5	11.3 bp −$113	doesn't fit	doesn't fit
Sell Deribit live order book, 43 min ago	3.05 bp	7.3 bp −$7	14.5 bp −$145	doesn't fit	doesn't fit

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	0.2472	−0.012%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2472	−0.006%	$160K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2471	−0.065%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2471	−0.047%	$422K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0094%	1h	0.2471	−0.049%	$6.2M	$11.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2472	+0.014%	$2.5M	$1.3M	10x	as long as short
Hyperliquid ADAlong	+0.0100%	1h	0.2472	long leg	$42.8M	$14.6M	10x
Aster ADAUSDT	+0.0100%	8h	0.2472	−0.006%	$1.2M	$919K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2473	+0.048%	$158K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2472	−0.006%	$102.2M	$355.8M	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	0.2471	−0.047%	$71.7M	$100.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2472	−0.006%	$32.1M	$105.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2470	−0.087%	$97.5M	$57.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2471	−0.047%	$53.4M	$50.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2472	−0.018%	$30.5M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2471	−0.047%	$66.2M	$42.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2472	−0.006%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2472	−0.022%	$103K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2458	−0.562%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2466	−0.233%	$66K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2462	−0.394%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2464	−0.330%	$56K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2471	−0.030%	$97K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2469	−0.127%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2471	−0.061%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2475	+0.114%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2471	−0.042%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2471	−0.054%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2470	−0.087%	$48.2M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2474	+0.089%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2471	−0.066%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2463	−0.378%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2473	+0.034%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2471	−0.039%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−1.098%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0567% / S −0.0313%	1h	0.2470	−0.093%	$123K	—	100x	as long as short
Deribit ADA_USDC-PERPETUALshort	+2.1695%	1h	0.2524	+2.097%	$490K	$349K	50x