Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0046%/8h= −5.1% APRpaid last 24h −0.024%

Price spread now: dYdX against MEXC−0.181%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$232as in the Funding arb table

Net, price: spread back to 7d avg − costs−$241as in the Price arb table

costs, in and out, $10k−$2232.228% of the position

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)+0.195%+$20 · spread now −0.181%, 7d avg −0.002%

Together, before fees+0.099%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and dYdX is 0.179% cheaper against MEXC than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ADA_USDT	0.2447	0.0100	pay 0.0100% / 8h	1h 27m	$53.3M	$65.0M	300x
Short	dYdX ADA-USD	0.2443	0.0054	get 0.0007% / 1h	27m 08s	$201K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against MEXC. 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 MEXCbpFee dYdXbpOrdersPrice spread, now −0.181%Rate

Funding earned: −$9.69
Price spread: −0.181% → −0.002%: −$17.94
Slippage, 4 orders: −$212.82
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$250.45
Costs to cover: 2.228%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; dYdX: live order book, 17 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 MEXC live order book, 2 min ago	2.05 bp	2.0 bp −$2	4.6 bp −$46	16.2 bp −$1,620	53.8 bp −$26.9K
Sell dYdX live order book, 17 min ago	104.36 bp	109.4 bp −$109	182.8 bp −$1,828	194.0 bp −$19.4K	209.5 bp −$104.7K

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	0.2444	−0.123%	$197K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2438	−0.349%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.981%	$849	$202K	12x	as long as short
dYdX ADA-USDshort	+0.0054%	1h	0.2443	−0.181%	$201K	$2K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2444	−0.123%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2446	−0.057%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2445	−0.098%	$157K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2448	+0.041%	$103.0M	$408.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2446	−0.041%	$72.6M	$124.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2447	0.000%	$32.5M	$117.9M	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	0.2446	−0.041%	$100.1M	$64.5M	75x	as long as short
MEXC ADA_USDTlong	+0.0100%	8h	0.2447	long leg	$53.3M	$65.0M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2447	−0.012%	$29.5M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2447	0.000%	$66.5M	$53.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2446	−0.041%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2438	−0.365%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2441	−0.242%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	−0.324%	$291K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2442	−0.204%	$80K	$891K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2445	−0.082%	$131K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2436	−0.437%	$39K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2444	−0.122%	$8K	$761K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	−0.102%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	−0.056%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	−0.041%	$47.4M	$7.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2444	−0.126%	$511K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2445	−0.071%	$21K	$250	20x	as long as short
Lighter ADA	+0.0112%	1h	0.2448	+0.049%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2442	−0.204%	$380K	$8.5M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2441	−0.233%	$4K	$111K	10x	as long as short
Backpack ADA_USDC_PERP	+0.0164%	1h	0.2447	+0.008%	$139K	$483K	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0170%	1h	0.2444	−0.116%	$6.3M	$13.9M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	0.000%	$4.5M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0274%	1h	0.2438	−0.367%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0289%	1h	0.2449	+0.083%	$43.0M	$18.2M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0631% / S −0.0728%	1h	0.2443	−0.152%	$164K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0650%	1h	0.2446	−0.049%	$625K	$616K	50x	as long as short