Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.010%

Price spread now: Gate against Hyperliquid−0.150%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 7 days+0.133%+$13 · spread now −0.150%, 7d avg −0.032%

Together, before fees+0.267%+ Points / potential airdropHyperliquid: Season 2 · farm board+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Gate is 0.118% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.032%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.134%, 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	0.2472	0.0217	pay 0.0027% / 1h	6m 56s	$43.6M	$15.1M	10x
Short	Gate ADA_USDT	0.2468	0.0100	get 0.0100% / 8h	4h 06m	$98.5M	$59.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.150%Rate

Funding earned: −$24.6
Price spread: −0.150% → −0.032%: −$11.75
Slippage, 4 orders: −$16.73
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$77.08
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Gate: 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 Gate live order book, 2 min ago	2.02 bp	13.3 bp −$13	17.7 bp −$177	91.0 bp −$9,098	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	0.2469	−0.129%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2469	−0.109%	$160K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2469	−0.096%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.028%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2469	−0.109%	$424K	$7.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2469	−0.107%	$6.3M	$12.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2471	−0.036%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2470	−0.066%	$1.2M	$988K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2470	−0.049%	$160K	$160K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2469	−0.102%	$104.6M	$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	0.2468	−0.150%	$72.0M	$108.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2468	−0.150%	$33.1M	$105.5M	50x	as long as short
Gate ADA_USDTshort	+0.0100%	8h	0.2468	−0.150%	$98.5M	$59.8M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2468	−0.150%	$61.7M	$61.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2470	−0.077%	$29.9M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2468	−0.150%	$66.4M	$49.5M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2469	−0.109%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2470	−0.081%	$131K	$445K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2475	+0.135%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2476	+0.159%	$66K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2476	+0.188%	$299K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2476	+0.174%	$228K	$747K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2470	−0.077%	$95K	$689K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2470	−0.069%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2471	−0.037%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	−0.071%	$8K	$729K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2470	−0.089%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2469	−0.096%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2471	−0.028%	$48.2M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2467	−0.198%	$536K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2470	−0.067%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0195%	1h	0.2472	0.000%	$4K	$100K	10x	as long as short
Hyperliquid ADAlong	+0.0217%	1h	0.2472	long leg	$43.6M	$15.1M	10x
BloFin ADA-USDT	+0.0220%	8h	0.2469	−0.109%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2469	−0.109%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0479%	1h	0.2471	−0.024%	$599K	$488K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0595% / S −0.0547%	1h	0.2469	−0.111%	$133K	—	100x	as long as short