Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: dYdX against MEXC+0.265%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$324as in the Funding arb table

Net, price: spread back to 7d avg − costs−$288as in the Price arb table

costs, in and out, $10k−$3153.146% of the position

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)−0.170%−$17 · spread now +0.265%, 7d avg −0.001%

Together, before fees−0.266%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.266% dearer against MEXC than usual: you sell high and buy low (spread +0.265% now, against its 7-day average of −0.001%): +$27 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 8.9 days. At the pace of the last 7 days (−0.096% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ADA_USDT	0.2461	0.0100	pay 0.0100% / 8h	5h 37m	$52.1M	$56.5M	300x
Short	dYdX ADA-USD	0.2468	0	get 0.0000% / 1h	37m 58s	$203K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.265%Rate

Funding earned: −$21
Price spread: +0.265% → −0.001%: $26.6
Slippage, 4 orders: −$304.62
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$309.02
Costs to cover: 3.146%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; dYdX: live order book, 26 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	2.03 bp	2.0 bp −$2	4.3 bp −$43	13.2 bp −$1,317	53.9 bp −$26.9K
Sell dYdX live order book, 26 min ago	150.28 bp	155.3 bp −$155	155.3 bp −$1,553	155.3 bp −$15.5K	165.3 bp −$82.7K

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-USDshort	0.0000%	1h	0.2468	+0.265%	$203K	$3K	10x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0004%	1h	0.2462	+0.055%	$90K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.406%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2468	+0.284%	$420K	$7.5M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2463	+0.077%	$42.8M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2464	+0.122%	$1.2M	$987K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2469	+0.329%	$158K	$161K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2462	+0.036%	$103.4M	$369.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2462	+0.041%	$72.4M	$108.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2463	+0.081%	$32.7M	$105.6M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2461	0.000%	$98.7M	$59.1M	75x	as long as short
MEXC ADA_USDTlong	+0.0100%	8h	0.2461	long leg	$52.1M	$56.5M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2463	+0.093%	$29.7M	$16.5M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2463	+0.081%	$66.0M	$48.1M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2462	+0.041%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2462	+0.020%	$127K	$421K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2468	+0.285%	$4.3M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2465	+0.167%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2464	+0.113%	$299K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2463	+0.081%	$227K	$730K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2464	+0.126%	$95K	$675K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2464	+0.122%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2465	+0.145%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2465	+0.163%	$9K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2464	+0.118%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2464	+0.108%	$1.3M	$6.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2463	+0.081%	$47.9M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2463	+0.095%	$534K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0104%	8h	0.2465	+0.163%	$162K	$6.2M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2470	+0.355%	$21K	$250	20x	as long as short
Lighter ADA	+0.0152%	1h	0.2465	+0.167%	$2.5M	$1.0M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2469	+0.313%	$4K	$90K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2471	+0.406%	$4.5M	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0261%	1h	0.2462	+0.046%	$6.3M	$12.4M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0278%	1h	0.2464	+0.138%	$561K	$450K	50x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2463	+0.081%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0417% / S −0.0202%	1h	0.2463	+0.074%	$95K	—	100x	as long as short