Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: Hyperliquid against Gate+0.143%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.140%−$14 on $10k

Price spread, last 7 days−0.131%−$13 · spread now +0.143%, 7d avg +0.028%

Together, before fees−0.272%+ Points / potential airdropHyperliquid: Season 2 · farm board−$27 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 0.115% dearer against Gate than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ADA_USDT	0.2453	0.0100	pay 0.0100% / 8h	1h 11m	$97.0M	$59.3M	75x
Short	Hyperliquid ADA	0.2457	0.0100	get 0.0013% / 1h	11m 30s	$42.5M	$14.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.143%Rate

Funding earned: $0
Price spread: +0.143% → +0.028%: $11.46
Slippage, 4 orders: −$11.39
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$23.93
Costs to cover: 0.354%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Hyperliquid: live order book, 12 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 Gate live order book, 2 min ago	2.04 bp	13.4 bp −$13	17.9 bp −$179	84.8 bp −$8,483	doesn't fit
Sell Hyperliquid live order book, 12 min ago	1.02 bp	5.9 bp −$6	doesn't fit	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	0.2454	+0.049%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2456	+0.122%	$154K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2456	+0.103%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2456	+0.122%	$412K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2456	+0.126%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2457	+0.171%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADAshort	+0.0100%	1h	0.2457	+0.143%	$42.5M	$14.3M	10x
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.092%	$1.2M	$922K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2456	+0.117%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	+0.082%	$101.9M	$360.3M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2454	+0.041%	$71.4M	$102.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2454	+0.041%	$31.9M	$105.7M	50x	as long as short
Gate ADA_USDTlong	+0.0100%	8h	0.2453	long leg	$97.0M	$59.3M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2455	+0.082%	$52.8M	$51.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	+0.082%	$30.2M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	+0.082%	$65.8M	$43.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2456	+0.122%	—	$18.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2456	+0.106%	$102K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2458	+0.212%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2455	+0.067%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	+0.002%	$294K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.041%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2454	+0.045%	$96K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.122%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2457	+0.158%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2457	+0.165%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2456	+0.126%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2457	+0.151%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2455	+0.082%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2456	+0.126%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	+0.061%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2455	+0.090%	$4K	$74K	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0198%	1h	0.2457	+0.167%	$480K	$351K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2454	+0.041%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2454	+0.023%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.734%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2455	+0.094%	$122K	—	100x	as long as short