ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+2.4663%/8h= +2700.6% APRnext payment +$30.83 per $10,000 · paid last 24h +0.082%

Price spread now: Deribit against Hyperliquid+2.430%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs+$210as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 4 days (all we have)−2.323%−$232 · spread now +2.430%, 7d avg +0.024%

Together, before fees−2.136%+ Points / potential airdropHyperliquid: Season 2 · farm board−$214 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$740 a day on $10k at the current rate, and Deribit is 2.407% dearer against Hyperliquid than usual: you sell high and buy low: +$241 more if the spread goes back to its 7-day average of +0.024%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.188% in total (about 9.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$30.83 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2456	0.0100	pay 0.0013% / 1h	42m 38s	$43.2M	$18.2M	10x
Short	Deribit ADA_USDC-PERPETUAL	0.2516	2.4763	get 0.3095% / 1h	42m 38s	$641K	$614K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +2.430%Rate

Funding earned: $5,179.23
Price spread: +2.430% → +0.024%: $240.66
Slippage, 4 orders: −$14.18
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $5,389.7
Costs to cover: 0.302%
Break-even: from the start

Slippage from Hyperliquid: live order book, 11 min ago; Deribit: live order book, 61 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, 11 min ago	0.20 bp	6.5 bp −$6	10.8 bp −$108	doesn't fit	doesn't fit
Sell Deribit live order book, 61 min ago	2.66 bp	10.6 bp −$11	16.8 bp −$168	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	0.2456	−0.036%	$202K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	−0.042%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.594%	$849	$202K	12x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2455	−0.057%	$6K	$5K	20x	as long as short
Hyperliquid ADAlong	+0.0100%	1h	0.2456	long leg	$43.2M	$18.2M	10x
Aster ADAUSDT	+0.0100%	8h	0.2458	+0.055%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2458	+0.049%	$157K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2458	+0.065%	$103.5M	$407.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2458	+0.065%	$73.1M	$125.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	+0.024%	$32.6M	$118.6M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2452	−0.179%	$100.6M	$64.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2457	+0.024%	$52.5M	$65.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	+0.061%	$29.6M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2456	−0.016%	$66.7M	$53.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2456	−0.016%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	−0.045%	$140K	$486K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2458	+0.066%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2460	+0.129%	$66K	$288K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2455	−0.060%	$299K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.024%	$78K	$894K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2456	0.000%	$126K	$1.2M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.044%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	+0.105%	$8K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	−0.077%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	+0.001%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.098%	$47.5M	$7.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	−0.145%	$516K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2458	+0.061%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0104%	8h	0.2456	−0.016%	$179K	$7.6M	3.2x	as long as short
Lighter ADA	+0.0136%	1h	0.2460	+0.126%	$2.4M	$1.0M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2454	−0.098%	$372K	$8.4M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	−0.016%	$4.5M	$5.9M	75x	as long as short
Phoenix ADA	+0.0228%	1h	0.2457	+0.008%	$4K	$112K	10x	as long as short
Reya ADARUSDPERP	+0.0273%	1h	0.2456	+0.003%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0279%	1h	0.2454	−0.112%	$6.3M	$13.9M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0603% / S −0.0679%	1h	0.2456	−0.036%	$156K	—	100x	as long as short
Deribit ADA_USDC-PERPETUALshort	+2.4763%	1h	0.2516	+2.430%	$641K	$614K	50x