Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0085%/8h= −9.3% APRpaid last 24h −0.007%

Price spread now: KuCoin against Hyperliquid−0.012%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.108%+$11 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.012%, 7d avg −0.001%

Together, before fees+0.119%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.108%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2470	0.0185	pay 0.0023% / 1h	21m 57s	$42.9M	$14.7M	10x
Short	KuCoin ADAUSDTM	0.2470	0.0100	get 0.0100% / 8h	4h 21m	$29.9M	$15.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$17.78
Price spread: −0.012% → −0.001%: −$1.15
Slippage, 4 orders: −$17.89
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$57.83
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; KuCoin: live order book, 2 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	0.20 bp	7.5 bp −$7	11.3 bp −$113	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.02 bp	12.9 bp −$13	21.1 bp −$211	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	0.2471	+0.039%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2473	+0.113%	$149K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2470	+0.007%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.032%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2471	+0.032%	$427K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2471	+0.014%	$6.3M	$12.7M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2473	+0.113%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2469	−0.037%	$1.2M	$985K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2473	+0.106%	$161K	$160K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2472	+0.061%	$104.7M	$370.2M	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	0.2471	+0.032%	$72.1M	$108.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2471	+0.032%	$33.0M	$105.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2469	−0.049%	$98.6M	$59.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2470	−0.008%	$61.6M	$60.8M	300x	as long as short
KuCoin ADAUSDTMshort	+0.0100%	8h	0.2470	−0.012%	$29.9M	$15.0M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2469	−0.049%	$66.5M	$49.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2470	−0.008%	—	$20.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2469	−0.049%	$125K	$441K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2470	−0.006%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2473	+0.110%	$66K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2475	+0.195%	$290K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2473	+0.113%	$228K	$745K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2475	+0.211%	$95K	$688K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2472	+0.073%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2473	+0.108%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2476	+0.235%	$9K	$729K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2472	+0.073%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2471	+0.030%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2470	−0.008%	$48.2M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2470	−0.014%	$537K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0110%	8h	0.2474	+0.148%	$21K	$250	20x	as long as short
Hyperliquid ADAlong	+0.0185%	1h	0.2470	long leg	$42.9M	$14.7M	10x
Phoenix ADA	+0.0195%	1h	0.2475	+0.174%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2471	+0.032%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2473	+0.133%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0519%	1h	0.2473	+0.125%	$600K	$488K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0595% / S −0.0547%	1h	0.2470	−0.009%	$133K	—	100x	as long as short