Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Phemex−0.202%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.202%, 7d avg −0.017%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.185% cheaper against Phemex than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2478	0.0100	pay 0.0100% / 8h	3h 20m	$48.3M	$7.0M	50x
Short	MEXC ADA_USDT	0.2473	0.0100	get 0.0100% / 8h	3h 20m	$59.7M	$62.4M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Phemex. 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 PhemexbpFee MEXCbpOrdersPrice spread, now −0.202%Rate

Funding earned: $0
Price spread: −0.202% → −0.017%: −$18.49
Slippage, 4 orders: −$12.07
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$42.56
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; MEXC: live order book, 3 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 Phemex live order book, 3 min ago	4.02 bp	10.0 bp −$10	14.0 bp −$140	37.2 bp −$3,716	doesn't fit
Sell MEXC live order book, 3 min ago	2.01 bp	2.0 bp −$2	3.5 bp −$35	18.1 bp −$1,813	47.4 bp −$23.7K

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	0.2480	+0.068%	$204K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2481	+0.121%	$146K	$6.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2478	+0.015%	$85K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2479	+0.038%	$6.3M	$13.2M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.282%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2478	0.000%	$393K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2475	−0.113%	$2.5M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2473	−0.189%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2481	+0.126%	$159K	$169K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2473	−0.202%	$105.2M	$386.5M	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	0.2471	−0.282%	$74.6M	$114.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2473	−0.202%	$33.1M	$110.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2471	−0.282%	$100.2M	$61.9M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2473	−0.202%	$59.7M	$62.4M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2474	−0.178%	$29.6M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2473	−0.202%	$67.4M	$51.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2473	−0.202%	—	$6.6M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2477	−0.038%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2486	+0.342%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2486	+0.323%	$301K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2486	+0.323%	$229K	$755K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2480	+0.077%	$94K	$630K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2479	+0.040%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2480	+0.068%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2480	+0.078%	$8K	$740K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2480	+0.061%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2479	+0.060%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDTlong	+0.0100%	8h	0.2478	long leg	$48.3M	$7.0M	50x
Paradex ADA-USD-PERP	+0.0101%	8h	0.2481	+0.120%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2473	−0.188%	$538K	$1.8M	50x	as long as short
Phoenix ADA	+0.0161%	1h	0.2492	+0.577%	$4K	$95K	10x	as long as short
Backpack ADA_USDC_PERP	+0.0216%	1h	0.2478	−0.012%	$130K	$468K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2479	+0.040%	$4.6M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2480	+0.080%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0380%	1h	0.2475	−0.133%	$44.1M	$16.2M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0436%	1h	0.2480	+0.101%	$610K	$533K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0621% / S −0.0580%	1h	0.2479	+0.024%	$140K	—	100x	as long as short