Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against MEXC−0.041%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)+0.140%+$14 · spread now −0.041%, 7d avg +0.013%

Together, before fees+0.162%+$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: Phemex is 0.054% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ADA_USDT	0.2437	0.0100	pay 0.0100% / 8h	1h 36m	$51.8M	$64.8M	300x
Short	Phemex ADAUSDT	0.2436	0.0100	get 0.0100% / 8h	1h 36m	$47.3M	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → +0.013%: −$5.41
Slippage, 4 orders: −$11.91
Fee MEXC: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$29.32
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Phemex: live order book, 3 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, 3 min ago	2.05 bp	2.0 bp −$2	3.3 bp −$33	14.3 bp −$1,427	45.2 bp −$22.6K
Sell Phemex live order book, 3 min ago	2.05 bp	11.8 bp −$12	14.3 bp −$143	36.8 bp −$3,675	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
Kalshi KXADAPERP	0.0000%	8h	0.2437	0.000%	$200K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2434	−0.106%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.395%	$849	$202K	12x	as long as short
dYdX ADA-USD	+0.0075%	1h	0.2433	−0.154%	$200K	$2K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2435	−0.082%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2436	−0.058%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2437	0.000%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2436	−0.041%	$102.5M	$409.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2435	−0.082%	$72.1M	$124.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2436	−0.041%	$32.4M	$117.7M	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	0.2435	−0.082%	$99.6M	$64.3M	75x	as long as short
MEXC ADA_USDTlong	+0.0100%	8h	0.2437	long leg	$51.8M	$64.8M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2437	−0.016%	$29.4M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2435	−0.082%	$66.1M	$53.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2436	−0.041%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2437	+0.003%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2435	−0.063%	$65K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	+0.081%	$292K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2439	+0.082%	$81K	$891K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2434	−0.127%	$129K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	+0.017%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2437	0.000%	$8K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2435	−0.066%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2437	−0.003%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2436	−0.041%	$47.3M	$7.4M	50x
Extended ADA-USD	+0.0104%	1h	0.2434	−0.107%	$512K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2438	+0.044%	$20K	$250	20x	as long as short
Lighter ADA	+0.0112%	1h	0.2437	0.000%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2439	+0.082%	$381K	$8.6M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0142%	1h	0.2436	−0.033%	$138K	$483K	15x	as long as short
Phoenix ADA	+0.0163%	1h	0.2435	−0.074%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2435	−0.063%	$6.3M	$13.9M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2440	+0.123%	$4.4M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0267%	1h	0.2437	+0.012%	$42.8M	$18.1M	10x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2433	−0.163%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0572%	1h	0.2436	−0.029%	$622K	$617K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2434	−0.117%	$163K	—	100x	as long as short