Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.013%

Price spread now: MEXC against Coinbase International−0.367%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$290.285% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.089%+$9 on $10k

Price spread, last 3 days (all we have)+0.276%+$28 · spread now −0.367%, 7d avg +0.017%

Together, before fees+0.365%+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.384% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.367% now, against its 7-day average of +0.017%). If the spread goes back, that is −$38 on $10k: about 29 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2454	0.0056	pay 0.0007% / 1h	5m 15s	$407K	$7.2M	50x
Short	MEXC ADA_USDT	0.2445	0.0100	get 0.0100% / 8h	2h 05m	$52.5M	$56.8M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now −0.367%Rate

Funding earned: $9.24
Price spread: −0.367% → +0.017%: −$38.36
Slippage, 4 orders: −$18.53
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$57.65
Costs to cover: 0.285%
Break-even: 50.7 days

Slippage from Coinbase International: live order book, 4 min ago; MEXC: live order book, 4 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 Coinbase International live order book, 4 min ago	4.09 bp	10.0 bp −$10	17.4 bp −$174	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	4.09 bp	4.1 bp −$4	6.2 bp −$62	14.7 bp −$1,470	56.3 bp −$28.1K

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	0.2444	−0.393%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2445	−0.367%	$153K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2444	−0.419%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0056%	1h	0.2454	long leg	$407K	$7.2M	50x
Deribit ADA_USDC-PERPETUAL	+0.0077%	1h	0.2445	−0.346%	$475K	$353K	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2446	−0.326%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2445	−0.352%	$42.4M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2444	−0.407%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2445	−0.367%	$156K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2445	−0.367%	$101.3M	$355.6M	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	0.2444	−0.407%	$70.3M	$99.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2444	−0.407%	$31.7M	$104.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2442	−0.489%	$96.4M	$58.2M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2445	−0.367%	$52.5M	$56.8M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2444	−0.391%	$30.2M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2445	−0.367%	$65.5M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2444	−0.407%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2445	−0.375%	$101K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2444	−0.392%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	−0.168%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	−0.196%	$296K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	−0.285%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2445	−0.387%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2444	−0.407%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2445	−0.385%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2446	−0.327%	$9K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	−0.387%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2444	−0.405%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2445	−0.367%	$47.7M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2445	−0.374%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2444	−0.399%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2446	−0.310%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	−0.285%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2444	−0.395%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0338%	1h	0.2444	−0.390%	$6.1M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2444	−0.426%	$109K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2446	−0.326%	$38K	$150K	12x	as long as short