Funding arb · Price arb /

ADA

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

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

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

Long on Phemex Short on MEXC

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: MEXC is 0.054% dearer against Phemex than usual: you sell high and buy low, +$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	Phemex ADAUSDT	0.2436	0.0100	pay 0.0100% / 8h	1h 36m	$47.3M	$7.4M	50x
Short	MEXC ADA_USDT	0.2437	0.0100	get 0.0100% / 8h	1h 36m	$51.8M	$64.8M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Phemex. 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 PhemexbpFee MEXCbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → −0.013%: $5.41
Slippage, 4 orders: −$11.91
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$18.5
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; MEXC: 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 Phemex live order book, 3 min ago	2.05 bp	8.0 bp −$8	10.9 bp −$109	34.0 bp −$3,398	doesn't fit
Sell MEXC live order book, 3 min ago	2.05 bp	2.0 bp −$2	5.2 bp −$52	17.6 bp −$1,755	45.7 bp −$22.9K

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	+0.041%	$200K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2434	−0.065%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.437%	$849	$202K	12x	as long as short
dYdX ADA-USD	+0.0075%	1h	0.2433	−0.113%	$200K	$2K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2435	−0.041%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2436	+0.015%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2437	+0.041%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2437	+0.041%	$102.5M	$409.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2436	0.000%	$72.2M	$124.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2437	+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	0.2434	−0.082%	$99.6M	$64.3M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2437	+0.041%	$51.8M	$64.8M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2437	+0.025%	$29.4M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2436	0.000%	$66.2M	$53.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2435	−0.041%	—	$20.3M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2437	+0.044%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2435	−0.022%	$65K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	+0.122%	$292K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2439	+0.123%	$81K	$891K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2434	−0.086%	$129K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	+0.058%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2437	+0.041%	$8K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2435	−0.025%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2437	+0.038%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2436	long leg	$47.3M	$7.4M	50x
Extended ADA-USD	+0.0104%	1h	0.2434	−0.066%	$512K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2438	+0.085%	$20K	$250	20x	as long as short
Lighter ADA	+0.0112%	1h	0.2437	+0.041%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2439	+0.123%	$381K	$8.6M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0145%	1h	0.2438	+0.078%	$139K	$483K	15x	as long as short
Phoenix ADA	+0.0163%	1h	0.2435	−0.033%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0171%	1h	0.2435	−0.022%	$6.3M	$13.9M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2440	+0.164%	$4.4M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0267%	1h	0.2436	−0.008%	$42.8M	$18.1M	10x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2433	−0.122%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0572%	1h	0.2436	+0.012%	$622K	$617K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2434	−0.076%	$163K	—	100x	as long as short