Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0261%/8h= −28.6% APRpaid last 24h 0.000%

Price spread now: HTX against Deribit−0.035%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.018%+$2 · spread now −0.035%, 7d avg −0.021%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.085%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.085% in total (about 4.4% 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	Deribit ADA_USDC-PERPETUAL	0.2455	0.0361	pay 0.0045% / 1h	0m 40s	$493K	$430K	50x
Short	HTX ADA-USDT	0.2454	0.0100	get 0.0100% / 8h	0m 40s	$1.3M	$5.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$54.81
Price spread: −0.035% → −0.021%: −$1.44
Slippage, 4 orders: −$21.83
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$97.07
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Deribit: live order book, 13 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 Deribit live order book, 13 min ago	2.46 bp	10.0 bp −$10	16.0 bp −$160	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	1.69 bp	11.2 bp −$11	20.6 bp −$206	53.2 bp −$5,317	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	0.2454	−0.054%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2454	−0.053%	$205K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2452	−0.121%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2447	−0.338%	$406K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2456	+0.041%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.037%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	−0.012%	$1.2M	$933K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.004%	$158K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	−0.005%	$101.5M	$366.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2455	−0.012%	$71.5M	$104.0M	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	0.2456	+0.029%	$32.4M	$107.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	−0.053%	$97.9M	$60.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	−0.053%	$52.8M	$51.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	−0.024%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	−0.012%	$66.0M	$43.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	−0.012%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	−0.024%	$108K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.209%	$4.2M	$972K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2451	−0.195%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2444	−0.460%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2451	−0.175%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2452	−0.143%	$94K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	−0.053%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.032%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	−0.054%	$9K	$768K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2454	−0.053%	$338	$13K	10x	as long as short
HTX ADA-USDTshort	+0.0100%	8h	0.2454	−0.035%	$1.3M	$5.4M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2453	−0.094%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2456	+0.009%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	−0.011%	$553K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2454	−0.043%	$6.2M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2450	−0.204%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	−0.094%	$4.3M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.639%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2452	−0.132%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUALlong	+0.0361%	1h	0.2455	long leg	$493K	$430K	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0564% / S −0.0313%	1h	0.2452	−0.136%	$122K	—	100x	as long as short