Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: edgeX against Hyperliquid−0.220%86s7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.346% of the position

Long on Hyperliquid Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.212%+$21 on $10k

Price spread, last 3 days (all we have)+0.310%+$31 · spread now −0.220%, 7d avg −0.002%

Together, before fees+0.521%+ Points / potential airdropHyperliquid: Season 2 · edgeX: Active · farm board+$52 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: edgeX is 0.217% cheaper against Hyperliquid than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −0.002%. The two prices were read 86 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2473	0.0100	pay 0.0013% / 1h	52m 16s	$42.9M	$14.2M	10x
Short	edgeX ADAUSDC	0.2468	0.0100	get 0.0050% / 4h	52m 16s	$66K	$280K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Hyperliquid. 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 HyperliquidbpFee edgeXbpOrdersPrice spread, now −0.220%Rate

Funding earned: $0
Price spread: −0.220% → −0.002%: −$21.73
Slippage, 4 orders: −$16.65
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$56.38
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; edgeX: live order book, 25 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 Hyperliquid live order book, 11 min ago	0.61 bp	7.1 bp −$7	10.6 bp −$106	doesn't fit	doesn't fit
Sell edgeX live order book, 25 min ago	6.10 bp	10.6 bp −$11	28.6 bp −$286	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	0.2472	−0.062%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2474	+0.020%	$161K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2471	−0.101%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2471	−0.101%	$415K	$7.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2474	+0.008%	$2.5M	$1.3M	10x	as long as short
Hyperliquid ADAlong	+0.0100%	1h	0.2473	long leg	$42.9M	$14.2M	10x
Aster ADAUSDT	+0.0100%	8h	0.2471	−0.081%	$1.2M	$925K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2473	−0.004%	$158K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2472	−0.061%	$102.8M	$361.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2472	−0.061%	$72.0M	$102.6M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2474	+0.020%	$32.6M	$107.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2472	−0.061%	$97.9M	$59.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2472	−0.061%	$52.8M	$50.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2472	−0.040%	$30.3M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2473	−0.020%	$66.3M	$43.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2473	−0.020%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2464	−0.377%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDCshort	+0.0100%	4h	0.2468	−0.220%	$66K	$280K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2468	−0.222%	$288K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2464	−0.384%	$56K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2473	−0.036%	$97K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2471	−0.101%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2472	−0.058%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2475	+0.059%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2472	−0.040%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2471	−0.083%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2472	−0.061%	$48.3M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2473	−0.012%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2472	−0.060%	$561K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0112%	1h	0.2473	−0.039%	$6.2M	$11.6M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2468	−0.218%	$4K	$78K	10x	as long as short
Backpack ADA_USDC_PERP	+0.0139%	1h	0.2473	−0.028%	$109K	$418K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2471	−0.101%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	−0.101%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2473	−0.037%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0357%	1h	0.2472	−0.057%	$489K	$404K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0568% / S −0.0313%	1h	0.2472	−0.075%	$123K	—	100x	as long as short