Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.007%

Price spread now: Pacifica against Hyperliquid+0.058%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$310.315% of the position

Long on Hyperliquid Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.191%+$19 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.058%, 7d avg +0.003%

Together, before fees+0.125%+ Points / potential airdropHyperliquid: Season 2 · Pacifica: Active · farm board+$12 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: Pacifica is 0.055% dearer against Hyperliquid than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2459	0.0100	pay 0.0013% / 1h	58m 20s	$42.7M	$14.9M	10x
Short	Pacifica ADA	0.2461	0.0100	get 0.0013% / 1h	58m 20s	$160K	$161K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.058%Rate

Funding earned: $0
Price spread: +0.058% → +0.003%: $5.51
Slippage, 4 orders: −$14.47
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$25.97
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Pacifica: live order book, 64 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, 5 min ago	0.81 bp	6.8 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 64 min ago	3.66 bp	9.8 bp −$10	doesn't fit	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	0.2459	−0.026%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2460	+0.033%	$140K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.232%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.480%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2455	−0.171%	$408K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2454	−0.222%	$6.2M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2455	−0.167%	$2.4M	$1.1M	10x	as long as short
Hyperliquid ADAlong	+0.0100%	1h	0.2459	long leg	$42.7M	$14.9M	10x
Aster ADAUSDT	+0.0100%	8h	0.2458	−0.061%	$1.2M	$1.0M	75x	as long as short
Pacifica ADAshort	+0.0100%	1h	0.2461	+0.058%	$160K	$161K	10x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2453	−0.235%	$103.7M	$372.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2453	−0.252%	$71.6M	$111.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	−0.252%	$32.6M	$105.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2455	−0.171%	$98.5M	$58.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	−0.130%	$61.3M	$59.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2457	−0.073%	$29.7M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	−0.211%	$65.9M	$50.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2454	−0.211%	—	$20.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2459	−0.028%	$126K	$448K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	−0.212%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2455	−0.167%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2456	−0.135%	$293K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2456	−0.130%	$226K	$739K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2457	−0.077%	$91K	$683K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	−0.211%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	−0.147%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2458	−0.048%	$8K	$742K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	−0.191%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	−0.205%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.211%	$47.8M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	−0.234%	$531K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2460	+0.031%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	−0.130%	$4K	$89K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2455	−0.171%	$4.5M	$5.7M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2456	−0.129%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0320%	1h	0.2456	−0.142%	$586K	$485K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0547% / S −0.0339%	1h	0.2454	−0.206%	$121K	—	100x	as long as short