Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.013%

Price spread now: HTX against Coinbase International+0.055%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.176%+$18 on $10k

Price spread, last 3 days (all we have)+0.012%+$1 · spread now +0.055%, 7d avg +0.036%

Together, before fees+0.189%+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2448	0.0056	pay 0.0007% / 1h	31m 01s	$408K	$7.2M	50x
Short	HTX ADA-USDT	0.2449	0.0100	get 0.0100% / 8h	2h 31m	$1.3M	$4.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Coinbase International. 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 Coinbase InternationalbpFee HTXbpOrdersPrice spread, now +0.055%Rate

Funding earned: $9.24
Price spread: +0.055% → +0.036%: $1.95
Slippage, 4 orders: −$23.75
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$34.56
Costs to cover: 0.458%
Break-even: 33.2 days

Slippage from Coinbase International: live order book, 3 min ago; HTX: 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 Coinbase International live order book, 3 min ago	4.09 bp	12.8 bp −$13	17.8 bp −$178	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	2.06 bp	13.8 bp −$14	23.1 bp −$231	49.2 bp −$4,921	doesn't fit

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	0.2446	−0.063%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2447	−0.041%	$153K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2448	+0.004%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0056%	1h	0.2448	long leg	$408K	$7.2M	50x
Lighter ADA	+0.0096%	1h	0.2450	+0.094%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	+0.065%	$42.5M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2448	+0.012%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	−0.042%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2449	+0.052%	$101.0M	$355.9M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2448	0.000%	$70.5M	$99.5M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2448	0.000%	$31.8M	$105.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2447	−0.041%	$96.7M	$57.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2448	0.000%	$52.5M	$56.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	0.000%	$30.2M	$18.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2449	+0.041%	$65.6M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2448	0.000%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	+0.061%	$101K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2445	−0.106%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2447	−0.024%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	−0.003%	$299K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2448	0.000%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2449	+0.025%	$97K	$642K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2449	+0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2449	+0.031%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	0.000%	$9K	$759K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2449	+0.020%	$337	$13K	10x	as long as short
HTX ADA-USDTshort	+0.0100%	8h	0.2449	+0.055%	$1.3M	$4.9M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2448	0.000%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2448	−0.006%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2448	+0.009%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2446	−0.098%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2451	+0.123%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2448	+0.013%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2449	+0.042%	$6.1M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0437% / S −0.0207%	1h	0.2448	+0.005%	$96K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.327%	$838	$131K	12x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0567%	1h	0.2451	+0.123%	$476K	$354K	50x	as long as short