data as of
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Price arb /

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$35
spread now−0.053%7d average−0.011%fees + slippage, in and out−$31spread needed0.305%
Long on HyperliquidShort on Backpack
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid ADA0.24440.0100pay 0.0013% / 1h1m 05s$41.7M$16.2M10x
ShortBackpack ADA_USDC_PERP0.24430.0100get 0.0013% / 1h1m 05s$102K$417K15x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$5.32
Funding while held
$0
Slippage, 4 orders
−$11.51
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$35.83
Spread needed to break even
0.305%
Slippage from Hyperliquid: live order book, 4 min ago; Backpack: live order book, 59 min ago.

Cost of waiting

funding view
Funding /8h
0.0000%
Per $10,000 a day
+$0.00
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 4 min ago1.43 bp7.1 bp −$710.1 bp −$101doesn't fitdoesn't fit
Sell Backpack live order book, 59 min ago0.61 bp7.6 bp −$810.8 bp −$108doesn't fitdoesn't fit

ADA price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.2282cheapest
Bybit0.2441+6.968%OKX0.2441+6.968%Gate0.2441+6.968%Bitget0.2442+7.011%BingX0.2442+7.011%Binance0.2442+7.023%Extended0.2443+7.038%GMX0.2443+7.044%MEXC0.2443+7.055%Orderly0.2443+7.055%Phemex0.2443+7.055%
Backpack0.2443+7.060%
gTrade (Gains Network)0.2443+7.060%KuCoin0.2444+7.086%Reya0.2444+7.089%Derive0.2444+7.090%SoDEX0.2444+7.090%Kraken Futures0.2444+7.099%Deribit0.2444+7.099%Aster0.2444+7.111%
Hyperliquid0.2444+7.117%
SunX0.2445+7.140%Coinbase International0.2445+7.143%Polymarket Perps0.2445+7.152%dYdX0.2445+7.157%Lighter0.2446+7.174%Paradex0.2446+7.182%Pacifica0.2447+7.209%HTX0.2447+7.223%edgeX0.2447+7.232%Kalshi0.2448+7.274%BloFin0.2448+7.274%ApeX Omni0.2453+7.493%Phoenix0.2454+7.550%Variational Omni0.2456+7.620%

ADA on 36 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective ADA/USDC PERP−6.644%+0.0033%1h$784$95K12xas long as short
Bybit ADAUSDT−0.139%+0.0100%8h$70.6M$106.7M75xas long as short
OKX ADA-USDT-SWAP−0.139%+0.0100%8h$32.3M$102.4M50xas long as short
Gate ADA_USDT−0.139%+0.0100%8h$94.1M$55.1M75xas long as short
Bitget ADAUSDT−0.098%+0.0100%8h$63.3M$44.7M75xas long as short
BingX ADA-USDC−0.098%+0.0100%8h—$6.5M—as long as short
Binance ADAUSDT−0.087%+0.0100%8h$102.8M$339.6M75xas long as short
Extended ADA-USD−0.073%+0.0104%1h$641K$1.5M50xas long as short
GMX ADA/USD [WBTC.b-USDC]−0.068%L +0.0545% / S −0.0369%1h$107K—100xas long as short
MEXC ADA_USDT−0.057%+0.0100%8h$52.8M$60.6M300xas long as short
Show all 36 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Orderly PERP_ADA_USDC−0.057%+0.0100%8h$6K$38K20xas long as short
Phemex ADAUSDT−0.057%+0.0100%8h$47.8M$5.7M50xas long as short
Backpack ADA_USDC_PERPshort−0.053%+0.0100%1h$102K$417K15x
gTrade (Gains Network) ADA/USD−0.052%L +0.0005% / S −0.0003%1h$84K—150xas long as short
KuCoin ADAUSDTM−0.029%+0.0100%8h$30.6M$20.5M75xas long as short
Reya ADARUSDPERP−0.026%+0.0297%1h$1K—15xas long as short
Derive ADA-PERP−0.025%+0.0100%1h$40K$3K5xas long as short
SoDEX ADA-USD−0.025%+0.0100%1h$336$13K10xas long as short
Kraken Futures PF_ADAUSD−0.016%+0.0019%1h$6.0M$11.1M50xas long as short
Deribit ADA_USDC-PERPETUAL−0.016%0.0000%1h$457K$356K50xas long as short
Aster ADAUSDT−0.005%+0.0100%8h$1.1M$1.3M75xas long as short
Hyperliquid ADAlong0.000%+0.0100%1h$41.7M$16.2M10x
SunX ADA-USDT+0.022%+0.0100%8h$9K$753K30xas long as short
Coinbase International ADA-PERP-INTX+0.025%+0.0136%1h$454K$6.3M50xas long as short
Polymarket Perps ADA-USD+0.033%+0.0100%1h$94K$717K10xas long as short
dYdX ADA-USD+0.037%+0.0015%1h$202K$2K10xas long as short
Lighter ADA+0.053%+0.0096%1h$2.3M$1.0M10xas long as short
Paradex ADA-USD-PERP+0.061%+0.0100%8h$21K$25020xas long as short
Pacifica ADA+0.086%+0.0100%1h$149K$138K10xas long as short
HTX ADA-USDT+0.099%+0.0100%8h$1.3M$4.5M75xas long as short
edgeX ADAUSDC+0.107%+0.0100%4h$65K$352K20xas long as short
Kalshi KXADAPERP+0.147%0.0000%8h$122K$5.4M3.2xas long as short
BloFin ADA-USDT+0.147%+0.0220%8h$4.5M$6.0M75xas long as short
ApeX Omni ADAUSDT+0.352%+0.0100%1h$92K$317K50xas long as short
Phoenix ADA+0.405%+0.0065%1h$4K$94K10xas long as short
Variational Omni ADA+0.470%+0.0100%8h$4.2M$978K—as long as short