Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.105%

Price spread now: Deribit against MEXC+0.008%52s7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.203% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.085%+$9 on $10k

Price spread, last 4 days (all we have)+0.206%+$21 · spread now +0.008%, 7d avg +0.038%

Together, before fees+0.291%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.030% cheaper against MEXC than usual: you would sell low and buy high (spread +0.008% now, against its 7-day average of +0.038%). If the spread goes back, that is −$3 on $10k: about 25 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.085% in total) that is about 2.4 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ADA_USDT	0.2472	0.0100	pay 0.0100% / 8h	5h 55m	$49.9M	$67.7M	300x
Short	Deribit ADA_USDC-PERPETUAL	0.2472	0.0195	get 0.0024% / 1h	55m 28s	$615K	$791K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now +0.008%Rate

Funding earned: $19.95
Price spread: +0.008% → +0.038%: −$2.97
Slippage, 4 orders: −$13.29
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$3.32
Costs to cover: 0.203%
Break-even: 8.2 days

Slippage from MEXC: live order book, 2 min ago; Deribit: live order book, 56 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 MEXC live order book, 2 min ago	2.02 bp	2.0 bp −$2	6.1 bp −$61	17.2 bp −$1,722	56.8 bp −$28.4K
Sell Deribit live order book, 56 min ago	3.43 bp	6.9 bp −$7	13.4 bp −$134	doesn't fit	doesn't fit

ADA on 36 exchanges

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	0.2472	+0.014%	$207K	$5K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2473	+0.040%	$233K	$7.7M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2474	+0.087%	$85K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0031%	1h	0.2472	−0.003%	$6.3M	$13.2M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.040%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2474	+0.073%	$2.4M	$934K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2473	+0.043%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2473	+0.048%	$158K	$151K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2473	+0.046%	$106.1M	$381.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2472	0.000%	$74.4M	$121.5M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2472	0.000%	$32.7M	$108.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2472	0.000%	$101.8M	$59.7M	75x	as long as short
MEXC ADA_USDTlong	+0.0100%	8h	0.2472	long leg	$49.9M	$67.7M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2473	+0.024%	$29.6M	$15.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2473	+0.040%	$67.6M	$50.1M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2473	+0.040%	—	$18.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2473	+0.028%	$140K	$451K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2472	−0.005%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2475	+0.102%	$66K	$289K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2478	+0.250%	$290K	$3.6M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2478	+0.243%	$71K	$896K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2472	−0.016%	$119K	$1.3M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2472	0.000%	$6K	$4K	20x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2473	+0.039%	$8K	$674K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2472	+0.020%	$340	$6K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2473	+0.022%	$1.3M	$6.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2473	+0.040%	$47.7M	$7.5M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2473	+0.039%	$20K	$589	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2473	+0.028%	$545K	$1.7M	50x	as long as short
Hyperliquid ADA	+0.0112%	1h	0.2475	+0.101%	$44.1M	$17.6M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0176%	1h	0.2473	+0.040%	$404K	$8.0M	50x	as long as short
Phoenix ADA	+0.0192%	1h	0.2475	+0.138%	$3K	$104K	10x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0195%	1h	0.2472	+0.008%	$615K	$791K	50x
BloFin ADA-USDT	+0.0220%	8h	0.2474	+0.081%	$4.6M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0270%	1h	0.2472	−0.008%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0369% / S −0.0295%	1h	0.2472	−0.015%	$88K	—	100x	as long as short