Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.003%

Price spread now: MEXC against Injective−0.486%70s7-day average +0.297% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 3 days (all we have)+1.790%+$179 · spread now −0.486%, 7d avg +0.297%

Together, before fees+1.808%+$181 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.782% cheaper against Injective than usual: you would sell low and buy high (spread −0.486% now, against its 7-day average of +0.297%). If the spread goes back, that is −$78 on $10k: about 39 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.018% in total) that is about 10 months. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ADA/USDC PERP	0.2471	0.0033	pay 0.0004% / 1h	6m 08s	$849	$202K	12x
Short	MEXC ADA_USDT	0.2459	0.0100	get 0.0100% / 8h	6h 06m	$59.1M	$52.9M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee MEXCbpOrdersPrice spread, now −0.486%Rate

Funding earned: $14
Price spread: −0.486% → +0.297%: −$78.25
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: −$64.27
Costs to cover: 0.000%
Break-even: 39.1 days

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 3 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell MEXC live order book, 3 min ago	2.04 bp	2.0 bp −$2	3.5 bp −$35	23.1 bp −$2,306	61.6 bp −$30.8K

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2459	−0.503%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2458	−0.509%	$84K	—	150x	as long as short
Injective ADA/USDC PERPlong	+0.0033%	1h	0.2471	long leg	$849	$202K	12x
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2453	−0.728%	$403K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2459	−0.506%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2459	−0.472%	$1.2M	$977K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2459	−0.486%	$158K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2458	−0.526%	$103.2M	$370.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2458	−0.526%	$72.4M	$108.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2458	−0.526%	$32.7M	$106.8M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2457	−0.567%	$98.5M	$60.5M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2459	−0.486%	$59.1M	$52.9M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2460	−0.465%	$29.9M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2458	−0.526%	$66.0M	$47.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2459	−0.486%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2459	−0.482%	$127K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2459	−0.483%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2447	−0.969%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2446	−1.031%	$296K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2445	−1.052%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	−0.465%	$94K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2459	−0.486%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2461	−0.422%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2461	−0.410%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2460	−0.465%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2459	−0.467%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2459	−0.486%	$47.8M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2459	−0.469%	$532K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0107%	8h	0.2456	−0.607%	$148K	$6.2M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2459	−0.484%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2449	−0.911%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0200%	1h	0.2461	−0.389%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2459	−0.486%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0353%	1h	0.2458	−0.507%	$6.2M	$12.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0360%	1h	0.2460	−0.437%	$503K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2458	−0.521%	$95K	—	100x	as long as short