Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Phemex−0.041%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now −0.041%, 7d avg −0.013%

Together, before fees−0.080%−$8 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: MEXC is 0.028% cheaper against Phemex than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2461	0.0100	pay 0.0100% / 8h	1h 10m	$47.7M	$7.5M	50x
Short	MEXC ADA_USDT	0.2460	0.0100	get 0.0100% / 8h	1h 10m	$51.9M	$65.5M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Phemex. 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 PhemexbpFee MEXCbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.013%: −$2.76
Slippage, 4 orders: −$12.03
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$26.78
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; MEXC: live order book, 3 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 Phemex live order book, 3 min ago	2.03 bp	11.9 bp −$12	15.7 bp −$157	51.1 bp −$5,106	doesn't fit
Sell MEXC live order book, 3 min ago	2.03 bp	2.0 bp −$2	4.8 bp −$48	18.3 bp −$1,835	48.4 bp −$24.2K

ADA on 36 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	0.2462	+0.041%	$181K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2461	+0.011%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.406%	$849	$202K	12x	as long as short
dYdX ADA-USD	+0.0036%	1h	0.2460	−0.026%	$202K	$2K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	0.000%	$6K	$5K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2461	−0.009%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2462	+0.026%	$158K	$177K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2461	−0.006%	$103.5M	$407.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2461	0.000%	$73.2M	$124.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2461	0.000%	$32.7M	$118.4M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2459	−0.081%	$100.7M	$65.1M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2460	−0.041%	$51.9M	$65.5M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2460	−0.037%	$29.4M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2461	0.000%	$67.0M	$53.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2461	0.000%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2460	−0.039%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2462	+0.045%	$66K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2462	+0.041%	$294K	$3.9M	10x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	−0.033%	$128K	$1.3M	10x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2462	+0.041%	$8K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2462	+0.020%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2461	+0.011%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2461	long leg	$47.7M	$7.5M	50x
Extended ADA-USD	+0.0104%	1h	0.2459	−0.069%	$516K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2462	+0.039%	$21K	$250	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0120%	1h	0.2460	−0.041%	$370K	$8.5M	50x	as long as short
ApeX Omni ADAUSDT	+0.0124%	1h	0.2464	+0.122%	$79K	$893K	50x	as long as short
Lighter ADA	+0.0136%	1h	0.2463	+0.073%	$2.4M	$1.0M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2463	+0.098%	$4K	$111K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0169%	1h	0.2461	−0.002%	$6.4M	$13.9M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0176%	1h	0.2462	+0.033%	$140K	$482K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2463	+0.081%	$4.5M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0274%	1h	0.2460	−0.021%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0311%	1h	0.2463	+0.098%	$43.3M	$18.1M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0522%	1h	0.2462	+0.049%	$628K	$617K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0603% / S −0.0679%	1h	0.2460	−0.024%	$156K	—	100x	as long as short