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: Binance against Hyperliquid+0.002%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on Hyperliquid Short on Binance

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−0.014%−$1 · spread now +0.002%, 7d avg +0.006%

Together, before fees+0.113%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2449	0.0100	pay 0.0013% / 1h	43m 37s	$42.4M	$14.5M	10x
Short	Binance ADAUSDT	0.2449	0.0100	get 0.0100% / 8h	2h 43m	$100.8M	$354.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now +0.002%Rate

Funding earned: $0
Price spread: +0.002% → +0.006%: −$0.42
Slippage, 4 orders: −$10.79
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$30.2
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Binance: live order book, 15 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 Hyperliquid live order book, 10 min ago	1.22 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	2.04 bp	7.0 bp −$7	9.5 bp −$95	24.7 bp −$2,473	76.1 bp −$38.1K

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	0.2448	−0.026%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2445	−0.143%	$152K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2447	−0.069%	$475K	$353K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2446	−0.113%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2444	−0.184%	$408K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2449	+0.004%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADAlong	+0.0100%	1h	0.2449	long leg	$42.4M	$14.5M	10x
Aster ADAUSDT	+0.0100%	8h	0.2447	−0.057%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	−0.043%	$157K	$146K	10x	as long as short
Binance ADAUSDTshort	+0.0100%	8h	0.2449	+0.002%	$100.8M	$354.2M	75x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2448	−0.020%	$70.5M	$99.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	+0.020%	$32.1M	$104.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2446	−0.102%	$96.9M	$57.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	−0.061%	$53.0M	$56.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2447	−0.041%	$30.5M	$18.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2448	−0.020%	$65.5M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2448	−0.020%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	−0.098%	$101K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2446	−0.122%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2448	−0.035%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2447	−0.064%	$286K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	−0.061%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2448	−0.037%	$96K	$679K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2446	−0.102%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2446	−0.083%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2446	−0.103%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	−0.123%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2444	−0.176%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2445	−0.143%	$47.7M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2448	−0.004%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2448	−0.032%	$560K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2449	+0.033%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	−0.061%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2446	−0.089%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0338%	1h	0.2445	−0.134%	$6.1M	$11.5M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0520% / S −0.0277%	1h	0.2445	−0.128%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.347%	$844	$95K	12x	as long as short