Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h −0.009%

Price spread now: Injective against MEXC+0.488%7-day average −0.335% · you sell dearer than you buy

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 3 days (all we have)−1.214%−$121 · spread now +0.488%, 7d avg −0.335%

Together, before fees−1.238%−$124 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Injective is 0.823% dearer against MEXC than usual: you sell high and buy low: +$82 more if the spread goes back to its 7-day average of −0.335%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.024% in total (about -1.2% a year). A funding rate is set anew for every payment. 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	MEXC ADA_USDT	0.2459	0.0100	pay 0.0100% / 8h	1h 16m	$53.5M	$50.9M	300x
Short	Injective ADA/USDC PERP	0.2471	0.0288	get 0.0036% / 1h	16m 40s	$849	$202K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.488%Rate

Funding earned: $39.51
Price spread: +0.488% → −0.335%: $82.33
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $121.82
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: MEXC: live order book, 2 min ago; Injective: 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 MEXC live order book, 2 min ago	2.03 bp	2.0 bp −$2	2.1 bp −$21	14.2 bp −$1,421	52.3 bp −$26.1K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	0.2458	−0.055%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2458	−0.041%	$154K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2459	−0.018%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2457	−0.081%	$410K	$7.3M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0076%	1h	0.2457	−0.098%	$479K	$351K	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2456	−0.140%	$6.2M	$11.6M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2461	+0.073%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2460	+0.041%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2459	0.000%	$1.2M	$921K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2459	+0.016%	$157K	$146K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2460	+0.044%	$102.1M	$360.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2460	+0.041%	$71.5M	$102.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2461	+0.081%	$31.8M	$106.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2460	+0.041%	$97.2M	$59.1M	75x	as long as short
MEXC ADA_USDTlong	+0.0100%	8h	0.2459	long leg	$53.5M	$50.9M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	−0.024%	$30.2M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2461	+0.081%	$65.9M	$43.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2460	+0.041%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2458	−0.028%	$101K	$414K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	−0.236%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	−0.135%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2456	−0.141%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	−0.163%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2459	+0.004%	$96K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	−0.122%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2457	−0.087%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2460	+0.044%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2456	−0.110%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2456	−0.113%	$1.3M	$5.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	−0.041%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2460	+0.036%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2461	+0.062%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2459	−0.020%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2460	+0.041%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2459	+0.004%	$1K	—	15x	as long as short
Injective ADA/USDC PERPshort	+0.0288%	1h	0.2471	+0.488%	$849	$202K	12x
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2458	−0.041%	$122K	—	100x	as long as short