ADA

Alert

Funding spread now, next payment 13:00 UTC+0.0420%/8h

next payment, per $10,000+$0.52paid, last 24h+0.017%paid, last 7 days−0.120%to open and close $10k−$39

Long on Kraken Futures Short on Hyperliquid

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.120% in total (about -6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.52 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2446	0.0053	pay 0.0007% / 1h	32m 41s	$6.2M	$9.7M	50x
Short	Hyperliquid ADA	0.2447	0.0473	get 0.0059% / 1h	32m 41s	$41.8M	$14.1M	10x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee HyperliquidbpOrdersRate

Funding earned: $88.15
Slippage, 4 orders: −$20.07
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $49.07
Break-even: 3.1 days

Slippage from Kraken Futures: live order book, 3 min ago; Hyperliquid: live order book, 12 min ago.

Price risk

price view

Price gap now: +0.013%
Avg gap 7d: −0.014%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Kraken Futures live order book, 3 min ago	4.09 bp	12.0 bp −$12	15.8 bp −$158	47.5 bp −$4,745	doesn't fit
Sell Hyperliquid live order book, 12 min ago	0.21 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit

ADA on 36 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
dYdX ADA-USD	0.0000%	1h	$202K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	$92K	$4.6M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	$460K	$329K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	$104K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	$784	$95K	12x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0053%	1h	$6.2M	$9.7M	50x
Lighter ADA	+0.0096%	1h	$2.3M	$812K	10x	as long as short
Phoenix ADA	+0.0099%	1h	$4K	$77K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	$5K	$37K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	$1.1M	$1.2M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Pacifica ADA	+0.0100%	1h	$150K	$114K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	$102.5M	$298.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	$72.1M	$95.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	$32.3M	$89.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	$96.3M	$48.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	$35.4M	$55.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	$29.0M	$19.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	$63.6M	$39.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	—	$16.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	$119K	$382K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	$4.7M	$372K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	$64K	$350K	20x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	$93K	$305K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	$94K	$392K	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	$9K	$660K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	$1.3M	$3.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	$48.0M	$5.2M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	$638K	$675K	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0136%	1h	$498K	$4.9M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	$4.5M	$4.2M	75x	as long as short
Reya ADARUSDPERP	+0.0299%	1h	$1K	—	15x	as long as short
Hyperliquid ADAshort	+0.0473%	1h	$41.8M	$14.1M	10x
GMX ADA/USD [WBTC.b-USDC]	L +0.0548% / S −0.0371%	1h	$108K	—	100x	as long as short