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: OKX against Hyperliquid−0.151%7-day average −0.008% · 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−$45as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.108%+$11 on $10k

Price spread, last 7 days+0.121%+$12 · spread now −0.151%, 7d avg −0.008%

Together, before fees+0.229%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 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: OKX is 0.143% cheaper against Hyperliquid than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2458	0.0100	pay 0.0013% / 1h	10m 47s	$42.8M	$14.4M	10x
Short	OKX ADA-USDT-SWAP	0.2454	0.0100	get 0.0100% / 8h	6h 10m	$32.6M	$107.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.151%Rate

Funding earned: $0
Price spread: −0.151% → −0.008%: −$14.29
Slippage, 4 orders: −$12.03
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$45.32
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 13 min ago; OKX: live order book, 3 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, 13 min ago	1.62 bp	8.3 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.04 bp	9.1 bp −$9	14.5 bp −$145	45.4 bp −$4,540	doesn't fit

ADA on 36 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	0.2453	−0.186%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.136%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.541%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2457	−0.028%	$400K	$7.4M	50x	as long as short
Hyperliquid ADAlong	+0.0100%	1h	0.2458	long leg	$42.8M	$14.4M	10x
Aster ADAUSDT	+0.0100%	8h	0.2457	−0.030%	$1.2M	$971K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	−0.127%	$158K	$157K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2454	−0.151%	$103.0M	$370.9M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	−0.151%	$72.2M	$108.6M	75x	as long as short
OKX ADA-USDT-SWAPshort	+0.0100%	8h	0.2454	−0.151%	$32.6M	$107.2M	50x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2455	−0.110%	$98.1M	$60.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	−0.151%	$59.0M	$52.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2456	−0.065%	$29.9M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	−0.151%	$65.7M	$47.1M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2453	−0.191%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2459	+0.033%	$130K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	−0.107%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.212%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2455	−0.129%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	−0.028%	$56K	$590K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	−0.114%	$94K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	−0.069%	$6K	$26K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2458	+0.002%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	−0.072%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2459	+0.033%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2457	−0.030%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	+0.012%	$47.8M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	−0.176%	$532K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2455	−0.107%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0108%	8h	0.2456	−0.069%	$163K	$6.3M	3.2x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	−0.073%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0200%	1h	0.2455	−0.110%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2455	−0.110%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0353%	1h	0.2459	+0.056%	$6.2M	$12.1M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0401%	1h	0.2458	+0.024%	$503K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2454	−0.146%	$95K	—	100x	as long as short