Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Hyperliquid against MEXC+0.024%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$160.164% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.024%, 7d avg +0.006%

Together, before fees−0.139%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ADA_USDT	0.2460	0.0100	pay 0.0100% / 8h	2h 21m	$52.8M	$56.6M	300x
Short	Hyperliquid ADA	0.2461	0.0100	get 0.0013% / 1h	21m 01s	$42.7M	$14.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → +0.006%: $1.84
Slippage, 4 orders: −$7.44
Fee MEXC: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$14.59
Costs to cover: 0.164%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 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 MEXC live order book, 3 min ago	2.04 bp	2.0 bp −$2	6.4 bp −$64	18.1 bp −$1,811	57.1 bp −$28.6K
Sell Hyperliquid live order book, 12 min ago	0.41 bp	5.8 bp −$6	9.1 bp −$91	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	0.2463	+0.118%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2466	+0.244%	$154K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2460	+0.008%	$478K	$353K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2459	−0.052%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2459	−0.041%	$408K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2461	+0.041%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADAshort	+0.0100%	1h	0.2461	+0.024%	$42.7M	$14.5M	10x
Aster ADAUSDT	+0.0100%	8h	0.2460	+0.006%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2462	+0.088%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2460	0.000%	$101.6M	$355.0M	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	0.2459	−0.041%	$70.7M	$99.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2460	0.000%	$32.0M	$105.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2458	−0.081%	$97.3M	$57.9M	75x	as long as short
MEXC ADA_USDTlong	+0.0100%	8h	0.2460	long leg	$52.8M	$56.6M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2461	+0.028%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2460	0.000%	$65.9M	$42.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2460	0.000%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2460	+0.016%	$101K	$409K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	−0.146%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2455	−0.201%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	−0.238%	$289K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2456	−0.163%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2461	+0.045%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2459	−0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2459	−0.022%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2460	0.000%	$9K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2460	−0.020%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2460	0.000%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2459	−0.041%	$48.0M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2463	+0.130%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2460	+0.008%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2464	+0.159%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2459	−0.041%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2459	−0.049%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2459	−0.032%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0505% / S −0.0263%	1h	0.2458	−0.065%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.813%	$838	$131K	12x	as long as short