Spread before costs (cost unknown: a leg has no order-book sample)+0.106%
7d average—if it closes, per $10,000$11funding while held, a day+$2.64
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_ADA_USDC | 0.2438 | 0.0100 | pay 0.0100% / 8h | 1h 59m | $6K | $38K | 20x |
| Short | Hyperliquid ADA | 0.2441 | 0.0188 | get 0.0024% / 1h | 59m 24s | $41.7M | $16.2M | 10x |
Orderly PERP_ADA_USDC
Hyperliquid 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
- $10.62
- Funding while held
- $2.64
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$1.73
- Spread needed to break even
- 0.150%
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 5 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0088%
- Per $10,000 a day
- +$2.64
- 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 5 min ago | 1.43 bp | 10.1 bp −$10 | 15.0 bp −$150 | doesn't fit | doesn't fit |
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 price on every exchange
against the cheapest. Click to use as the short leg.Injective0.2282cheapest
Gate0.2437+6.792%HTX0.2437+6.809%Extended0.2438+6.818%Reya0.2438+6.826%Kalshi0.2438+6.836%
Injective
Gate
HTX
Extended
ReyaOrderly0.2438+6.836%
GMX0.2438+6.840%dYdX0.2438+6.843%Paradex0.2439+6.870%SoDEX0.2439+6.871%Derive0.2439+6.874%Bybit0.2439+6.880%MEXC0.2439+6.880%Bitget0.2439+6.880%BingX0.2439+6.880%Deribit0.2439+6.880%Coinbase International0.2439+6.880%Phemex0.2439+6.880%gTrade (Gains Network)0.2439+6.883%Backpack0.2439+6.889%Polymarket Perps0.2439+6.889%Aster0.2439+6.892%Kraken Futures0.2439+6.896%Pacifica0.2439+6.899%Binance0.2439+6.900%KuCoin0.2440+6.915%SunX0.2440+6.919%OKX0.2440+6.924%
GMX
dYdX
Paradex
SoDEX
Derive
Bybit
MEXC
Bitget
BingX
Deribit
Coinbase International
Phemex
gTrade (Gains Network)
Backpack
Polymarket Perps
Aster
Kraken Futures
Pacifica
Binance
KuCoin
SunX
OKXHyperliquid0.2441+6.950%
Lighter0.2441+6.950%Phoenix0.2445+7.143%edgeX0.2446+7.192%Variational Omni0.2447+7.223%BloFin0.2448+7.274%ApeX Omni0.2453+7.493%
Lighter
Phoenix
Variational Omni
BloFin
ApeX 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 | −6.399% | +0.0033% | 1h | $784 | $95K | 12x | as long as short |
| Gate ADA_USDT | −0.041% | +0.0100% | 8h | $94.0M | $54.5M | 75x | as long as short |
| HTX ADA-USDT | −0.025% | +0.0100% | 8h | $1.3M | $4.5M | 75x | as long as short |
| Extended ADA-USD | −0.017% | +0.0104% | 1h | $638K | $1.5M | 50x | as long as short |
| Reya ADARUSDPERP | −0.010% | +0.0297% | 1h | $1K | — | 15x | as long as short |
| Kalshi KXADAPERP | 0.000% | 0.0000% | 8h | $130K | $5.4M | 3.2x | as long as short |
| Orderly PERP_ADA_USDClong | 0.000% | +0.0100% | 8h | $6K | $38K | 20x | |
| GMX ADA/USD [WBTC.b-USDC] | +0.003% | L +0.0544% / S −0.0369% | 1h | $107K | — | 100x | as long as short |
| dYdX ADA-USD | +0.007% | +0.0014% | 1h | $202K | $2K | 10x | as long as short |
| Paradex ADA-USD-PERP | +0.032% | +0.0100% | 8h | $20K | $250 | 20x | as long as short |
Show all 36 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| SoDEX ADA-USD | +0.033% | +0.0100% | 1h | $335 | $13K | 10x | as long as short |
| Derive ADA-PERP | +0.036% | +0.0100% | 1h | $40K | $3K | 5x | as long as short |
| Bybit ADAUSDT | +0.041% | +0.0100% | 8h | $70.4M | $106.8M | 75x | as long as short |
| MEXC ADA_USDT | +0.041% | +0.0100% | 8h | $52.7M | $60.0M | 300x | as long as short |
| Bitget ADAUSDT | +0.041% | +0.0100% | 8h | $63.2M | $44.7M | 75x | as long as short |
| BingX ADA-USDC | +0.041% | +0.0100% | 8h | — | $6.5M | — | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.041% | +0.0037% | 1h | $456K | $356K | 50x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.041% | +0.0136% | 1h | $453K | $6.3M | 50x | as long as short |
| Phemex ADAUSDT | +0.041% | +0.0100% | 8h | $47.8M | $5.7M | 50x | as long as short |
| gTrade (Gains Network) ADA/USD | +0.044% | L +0.0005% / S −0.0003% | 1h | $84K | — | 150x | as long as short |
| Backpack ADA_USDC_PERP | +0.049% | +0.0100% | 1h | $102K | $415K | 15x | as long as short |
| Polymarket Perps ADA-USD | +0.049% | +0.0100% | 1h | $94K | $718K | 10x | as long as short |
| Aster ADAUSDT | +0.052% | +0.0100% | 8h | $1.1M | $1.3M | 75x | as long as short |
| Kraken Futures PF_ADAUSD | +0.056% | +0.0019% | 1h | $6.0M | $11.1M | 50x | as long as short |
| Pacifica ADA | +0.059% | +0.0100% | 1h | $160K | $168K | 10x | as long as short |
| Binance ADAUSDT | +0.060% | +0.0100% | 8h | $102.3M | $339.9M | 75x | as long as short |
| KuCoin ADAUSDTM | +0.074% | +0.0100% | 8h | $30.5M | $20.5M | 75x | as long as short |
| SunX ADA-USDT | +0.078% | +0.0100% | 8h | $9K | $754K | 30x | as long as short |
| OKX ADA-USDT-SWAP | +0.082% | +0.0100% | 8h | $32.2M | $102.4M | 50x | as long as short |
| Hyperliquid ADAshort | +0.106% | +0.0188% | 1h | $41.7M | $16.2M | 10x | |
| Lighter ADA | +0.107% | +0.0096% | 1h | $2.3M | $1.0M | 10x | as long as short |
| Phoenix ADA | +0.287% | +0.0065% | 1h | $4K | $94K | 10x | as long as short |
| edgeX ADAUSDC | +0.334% | +0.0100% | 4h | $65K | $353K | 20x | as long as short |
| Variational Omni ADA | +0.362% | +0.0100% | 8h | $4.2M | $979K | — | as long as short |
| BloFin ADA-USDT | +0.410% | +0.0220% | 8h | $4.5M | $6.0M | 75x | as long as short |
| ApeX Omni ADAUSDT | +0.615% | +0.0100% | 1h | $92K | $317K | 50x | as long as short |