Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0142%/8h= −15.6% APRpaid last 24h −0.006%

Price spread now: Orderly against Hyperliquid−0.076%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.076% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2487	0.0242	pay 0.0030% / 1h	13m 38s	$43.4M	$14.3M	10x
Short	Orderly PERP_ADA_USDC	0.2485	0.0100	get 0.0100% / 8h	7h 13m	$6K	$29K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.076%Rate

Funding earned: −$29.85
Price spread: −0.076% → 0.000%: −$7.64
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$52.49
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Orderly: no order-book sample. Net counts fees only.

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	0.81 bp	6.8 bp −$7	11.2 bp −$112	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2484	−0.125%	$204K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2485	−0.076%	$215K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2484	−0.099%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.639%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2482	−0.197%	$422K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2486	−0.017%	$6.3M	$11.7M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2475	−0.495%	$4K	$84K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2485	−0.076%	$1.2M	$955K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2486	−0.046%	$160K	$150K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2486	−0.048%	$103.6M	$367.2M	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	0.2485	−0.076%	$73.0M	$105.0M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2486	−0.036%	$32.9M	$108.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2483	−0.157%	$99.1M	$59.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2485	−0.076%	$55.0M	$52.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2485	−0.076%	$30.5M	$17.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2483	−0.157%	$67.0M	$44.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2484	−0.117%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2489	+0.101%	$137K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2474	−0.514%	$4.3M	$968K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2467	−0.791%	$66K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2468	−0.757%	$292K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2471	−0.639%	$56K	$585K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2483	−0.165%	$95K	$649K	10x	as long as short
Orderly PERP_ADA_USDCshort	+0.0100%	8h	0.2485	−0.076%	$6K	$29K	20x
Derive ADA-PERP	+0.0100%	1h	0.2487	−0.014%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2487	+0.003%	$9K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2486	−0.036%	$342	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2487	+0.005%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2486	−0.036%	$48.6M	$5.7M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2485	−0.078%	$542K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2486	−0.037%	$21K	$250	20x	as long as short
Lighter ADA	+0.0184%	1h	0.2487	−0.008%	$2.5M	$1.1M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2481	−0.237%	$4.4M	$5.6M	75x	as long as short
Hyperliquid ADAlong	+0.0242%	1h	0.2487	long leg	$43.4M	$14.3M	10x
Reya ADARUSDPERP	+0.0282%	1h	0.2484	−0.116%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0629% / S −0.0393%	1h	0.2485	−0.080%	$143K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4743%	1h	0.2547	+2.409%	$512K	$434K	50x	as long as short