Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0133%/8h= +14.5% APRpaid last 24h +0.007%

Price spread now: Hyperliquid against KuCoin+0.223%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on KuCoin Short on Hyperliquid

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−0.222%−$22 · spread now +0.223%, 7d avg +0.001%

Together, before fees−0.330%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.222% dearer against KuCoin than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.001%. Mind the row above: over the last 7 days funding on this pair cost −0.108%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ADAUSDTM	0.2467	0.0100	pay 0.0100% / 8h	4h 04m	$29.8M	$15.0M	75x
Short	Hyperliquid ADA	0.2473	0.0233	get 0.0029% / 1h	4m 13s	$43.6M	$15.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.223%Rate

Funding earned: $27.84
Price spread: +0.223% → +0.001%: $22.23
Slippage, 4 orders: −$18.94
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $10.13
Costs to cover: 0.399%
Break-even: 4.5 days

Slippage from KuCoin: live order book, 5 min ago; Hyperliquid: live order book, 9 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 KuCoin live order book, 5 min ago	2.63 bp	13.4 bp −$13	19.2 bp −$192	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.21 bp	7.9 bp −$8	9.9 bp −$99	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	0.2463	−0.151%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2466	−0.045%	$160K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2466	−0.031%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.158%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2464	−0.126%	$423K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2470	+0.115%	$6.3M	$12.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2472	+0.199%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2467	+0.001%	$1.2M	$989K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2465	−0.069%	$160K	$160K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2471	+0.154%	$104.7M	$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	0.2470	+0.118%	$72.1M	$108.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2471	+0.158%	$33.1M	$105.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2469	+0.077%	$98.7M	$59.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2470	+0.118%	$61.7M	$61.2M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2467	long leg	$29.8M	$15.0M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2471	+0.158%	$66.5M	$49.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2470	+0.118%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2471	+0.150%	$131K	$445K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2465	−0.082%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2470	+0.105%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2468	+0.036%	$298K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2468	+0.036%	$227K	$747K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2469	+0.061%	$94K	$689K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2467	−0.004%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2469	+0.069%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2468	+0.034%	$9K	$729K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2469	+0.057%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2466	−0.041%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2471	+0.158%	$48.2M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2468	+0.028%	$536K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2465	−0.072%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0195%	1h	0.2472	+0.191%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2467	−0.004%	$4.5M	$5.8M	75x	as long as short
Hyperliquid ADAshort	+0.0233%	1h	0.2473	+0.223%	$43.6M	$15.1M	10x
Reya ADARUSDPERP	+0.0278%	1h	0.2468	+0.037%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0595% / S −0.0547%	1h	0.2467	−0.009%	$133K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0601%	1h	0.2469	+0.073%	$599K	$488K	50x	as long as short