Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Hyperliquid against MEXC+0.078%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$170.174% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 7 days−0.041%−$4 · spread now +0.078%, 7d avg +0.008%

Together, before fees−0.163%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 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: Hyperliquid is 0.070% dearer against MEXC than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ADA_USDT	0.2443	0.0100	pay 0.0100% / 8h	7h 44m	$52.3M	$50.9M	300x
Short	Hyperliquid ADA	0.2445	0.0100	get 0.0013% / 1h	44m 18s	$42.5M	$14.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.078%Rate

Funding earned: $0
Price spread: +0.078% → +0.008%: $7.02
Slippage, 4 orders: −$8.44
Fee MEXC: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$10.43
Costs to cover: 0.174%
Break-even: never at this rate

Slippage from MEXC: 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 MEXC live order book, 5 min ago	2.04 bp	2.0 bp −$2	2.0 bp −$20	17.4 bp −$1,739	58.3 bp −$29.1K
Sell Hyperliquid live order book, 9 min ago	0.81 bp	6.0 bp −$6	10.0 bp −$100	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	0.2447	+0.158%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2447	+0.164%	$194K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2444	+0.023%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.146%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2443	0.000%	$407K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0048%	1h	0.2443	−0.001%	$6.1M	$11.7M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2445	+0.082%	$2.4M	$1.1M	10x	as long as short
Phoenix ADA	+0.0098%	1h	0.2445	+0.086%	$4K	$84K	10x	as long as short
Hyperliquid ADAshort	+0.0100%	1h	0.2445	+0.078%	$42.5M	$14.4M	10x
Aster ADAUSDT	+0.0100%	8h	0.2445	+0.083%	$1.2M	$939K	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ADA	+0.0100%	1h	0.2447	+0.172%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2444	+0.037%	$101.1M	$364.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2444	+0.041%	$71.4M	$103.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2444	+0.041%	$32.3M	$106.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2444	+0.041%	$97.5M	$58.3M	75x	as long as short
MEXC ADA_USDTlong	+0.0100%	8h	0.2443	long leg	$52.3M	$50.9M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	+0.094%	$30.0M	$17.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2443	0.000%	$65.7M	$43.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2445	+0.082%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	+0.213%	$107K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2442	−0.036%	$4.2M	$944K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2446	+0.121%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2446	+0.124%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2443	0.000%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2445	+0.061%	$93K	$644K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2443	0.000%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2443	+0.015%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2449	+0.246%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2443	+0.004%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	+0.140%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2442	−0.041%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2446	+0.141%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2442	−0.021%	$550K	$1.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2449	+0.246%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2443	+0.001%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0323%	1h	0.2444	+0.037%	$493K	$431K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0622% / S −0.0393%	1h	0.2442	−0.026%	$141K	—	100x	as long as short