After costs, if the gap returns to its 7d average, $10k−$20
spread now+0.236%7d average+0.057%fees + slippage, in and out−$38spread needed0.383%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ADA | 0.2429 | 0.0100 | pay 0.0013% / 1h | 41m 23s | $42.4M | $14.1M | 10x |
| Short | Phoenix ADA | 0.2435 | 0.0164 | get 0.0020% / 1h | 41m 23s | $4K | $94K | 10x |
Hyperliquid ADA
Phoenix ADAPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $23.59
- Funding while held
- $1.92
- Slippage, 4 orders
- −$22.33
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$12.82
- Spread needed to break even
- 0.383%
Slippage from Hyperliquid: live order book, 3 min ago; Phoenix: live order book, 51 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0064%
- Per $10,000 a day
- +$1.92
- Average in range /8h
- —
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, 3 min ago | 0.62 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 51 min ago | 0.82 bp | 13.1 bp −$13 | 44.7 bp −$447 | doesn't fit | doesn't fit |
ADA price on every exchange
against the cheapest. Click to use as the short leg.Injective0.2424cheapestGMX0.2427+0.107%Bybit0.2427+0.124%OKX0.2427+0.124%Gate0.2427+0.124%Bitget0.2427+0.124%BingX0.2427+0.124%gTrade (Gains Network)0.2427+0.125%dYdX0.2427+0.129%Pacifica0.2427+0.132%Extended0.2428+0.145%Reya0.2428+0.146%MEXC0.2428+0.165%Paradex0.2428+0.169%Binance0.2428+0.171%KuCoin0.2428+0.177%Polymarket Perps0.2429+0.186%
Injective
GMX
Bybit
OKX
Gate
Bitget
BingX
gTrade (Gains Network)
dYdX
Pacifica
Extended
Reya
MEXC
Paradex
Binance
KuCoin
Polymarket PerpsHyperliquid0.2429+0.201%
Lighter0.2429+0.202%Aster0.2429+0.210%SoDEX0.2429+0.227%Coinbase International0.2430+0.248%BloFin0.2430+0.248%Backpack0.2430+0.268%SunX0.2431+0.287%ApeX Omni0.2431+0.289%Orderly0.2431+0.289%Phemex0.2431+0.289%Derive0.2431+0.298%Kraken Futures0.2431+0.308%HTX0.2431+0.309%Deribit0.2432+0.326%Kalshi0.2432+0.330%edgeX0.2434+0.398%
Lighter
Aster
SoDEX
Coinbase International
BloFin
Backpack
SunX
ApeX Omni
Orderly
Phemex
Derive
Kraken Futures
HTX
DeribitPhoenix0.2435+0.437%
Variational Omni0.2441+0.684%
Variational OmniADA on 36 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective ADA/USDC PERP | −0.201% | +0.0033% | 1h | $832 | $103K | 12x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | −0.094% | L +0.0520% / S −0.0276% | 1h | $112K | — | 100x | as long as short |
| Bybit ADAUSDT | −0.077% | +0.0100% | 8h | $70.9M | $102.8M | 75x | as long as short |
| OKX ADA-USDT-SWAP | −0.077% | +0.0100% | 8h | $32.1M | $103.5M | 50x | as long as short |
| Gate ADA_USDT | −0.077% | +0.0100% | 8h | $94.2M | $54.5M | 75x | as long as short |
| Bitget ADAUSDT | −0.077% | +0.0100% | 8h | $64.1M | $43.8M | 75x | as long as short |
| BingX ADA-USDT | −0.077% | +0.0100% | 8h | — | $19.0M | — | as long as short |
| gTrade (Gains Network) ADA/USD | −0.076% | L +0.0005% / S −0.0003% | 1h | $83K | — | 150x | as long as short |
| dYdX ADA-USD | −0.072% | 0.0000% | 1h | $201K | $2K | 10x | as long as short |
| Pacifica ADA | −0.069% | +0.0100% | 1h | $157K | $163K | 10x | as long as short |
Show all 36 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Extended ADA-USD | −0.056% | +0.0104% | 1h | $608K | $1.7M | 50x | as long as short |
| Reya ADARUSDPERP | −0.055% | +0.0292% | 1h | $1K | — | 15x | as long as short |
| MEXC ADA_USDT | −0.036% | +0.0100% | 8h | $51.3M | $59.6M | 300x | as long as short |
| Paradex ADA-USD-PERP | −0.031% | +0.0100% | 8h | $20K | $250 | 20x | as long as short |
| Binance ADAUSDT | −0.030% | +0.0100% | 8h | $101.0M | $347.4M | 75x | as long as short |
| KuCoin ADAUSDTM | −0.023% | +0.0100% | 8h | $29.9M | $18.1M | 75x | as long as short |
| Polymarket Perps ADA-USD | −0.015% | +0.0100% | 1h | $92K | $730K | 10x | as long as short |
| Hyperliquid ADAlong | 0.000% | +0.0100% | 1h | $42.4M | $14.1M | 10x | |
| Lighter ADA | +0.001% | +0.0096% | 1h | $2.4M | $1.2M | 10x | as long as short |
| Aster ADAUSDT | +0.009% | +0.0100% | 8h | $1.1M | $1.1M | 75x | as long as short |
| SoDEX ADA-USD | +0.026% | +0.0100% | 1h | $334 | $13K | 10x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.047% | +0.0080% | 1h | $473K | $6.8M | 50x | as long as short |
| BloFin ADA-USDT | +0.047% | +0.0220% | 8h | $4.4M | $6.4M | 75x | as long as short |
| Backpack ADA_USDC_PERP | +0.067% | +0.0100% | 1h | $103K | $417K | 15x | as long as short |
| SunX ADA-USDT | +0.086% | +0.0100% | 8h | $9K | $760K | 30x | as long as short |
| ApeX Omni ADAUSDT | +0.088% | +0.0100% | 1h | $227K | $453K | 50x | as long as short |
| Orderly PERP_ADA_USDC | +0.088% | +0.0100% | 8h | $6K | $36K | 20x | as long as short |
| Phemex ADAUSDT | +0.088% | +0.0100% | 8h | $47.4M | $5.7M | 50x | as long as short |
| Derive ADA-PERP | +0.097% | +0.0100% | 1h | $39K | $3K | 5x | as long as short |
| Kraken Futures PF_ADAUSD | +0.107% | +0.0354% | 1h | $6.1M | $10.9M | 50x | as long as short |
| HTX ADA-USDT | +0.108% | +0.0100% | 8h | $1.3M | $4.8M | 75x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.125% | +0.0285% | 1h | $474K | $390K | 50x | as long as short |
| Kalshi KXADAPERP | +0.129% | 0.0000% | 8h | $91K | $5.7M | 3.2x | as long as short |
| edgeX ADAUSDC | +0.197% | +0.0100% | 4h | $65K | $279K | 20x | as long as short |
| Phoenix ADAshort | +0.236% | +0.0164% | 1h | $4K | $94K | 10x | |
| Variational Omni ADA | +0.482% | +0.0100% | 8h | $4.2M | $1.0M | — | as long as short |