Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h 0.000%

Price spread now: Deribit against MEXC+0.073%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

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

costs, in and out, $10k−$210.207% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 3 days (all we have)+0.049%+$5 · spread now +0.073%, 7d avg +0.045%

Together, before fees+0.051%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.029% dearer against MEXC than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ADA_USDT	0.2450	0.0100	pay 0.0100% / 8h	3m 09s	$52.4M	$51.2M	300x
Short	Deribit ADA_USDC-PERPETUAL	0.2452	0.0199	get 0.0025% / 1h	3m 09s	$492K	$430K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now +0.073%Rate

Funding earned: $20.79
Price spread: +0.073% → +0.045%: $2.9
Slippage, 4 orders: −$13.66
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $3.03
Costs to cover: 0.207%
Break-even: 6.0 days

Slippage from MEXC: live order book, 1 min ago; Deribit: live order book, 11 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 MEXC live order book, 1 min ago	2.04 bp	2.0 bp −$2	3.8 bp −$38	17.8 bp −$1,778	67.1 bp −$33.6K
Sell Deribit live order book, 11 min ago	2.46 bp	6.6 bp −$7	12.9 bp −$129	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	0.2451	+0.024%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2451	+0.041%	$213K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2451	+0.024%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2447	−0.122%	$406K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	+0.086%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2452	+0.078%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2451	+0.041%	$1.2M	$933K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2451	+0.038%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2451	+0.035%	$101.3M	$366.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2450	0.000%	$71.4M	$104.0M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2451	+0.041%	$32.4M	$107.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2450	0.000%	$97.8M	$60.5M	75x	as long as short
MEXC ADA_USDTlong	+0.0100%	8h	0.2450	long leg	$52.4M	$51.2M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2451	+0.045%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2450	0.000%	$65.9M	$43.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2451	+0.041%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2451	+0.053%	$108K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2441	−0.360%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2445	−0.197%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.245%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2444	−0.245%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2451	+0.033%	$94K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	+0.041%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	+0.070%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2451	+0.042%	$9K	$768K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2451	+0.041%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	+0.040%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2450	0.000%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2451	+0.036%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2451	+0.022%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2450	+0.020%	$6.2M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2446	−0.176%	$4K	$78K	10x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0199%	1h	0.2452	+0.073%	$492K	$430K	50x
BloFin ADA-USDT	+0.0220%	8h	0.2450	0.000%	$4.3M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.857%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2451	+0.023%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0564% / S −0.0313%	1h	0.2451	+0.026%	$122K	—	100x	as long as short