Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0404%/8h= −44.2% APRpaid last 24h −0.104%

Price spread now: HTX against GMX+0.051%7-day average 0.000% · you sell dearer than you buy

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

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.319%−$32 on $10k

Price spread, last 3 days (all we have)−0.216%−$22 · spread now +0.051%, 7d avg 0.000%

Together, before fees−0.535%−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.052% dearer against GMX than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of 0.000%): +$5 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2452	L +0.0504% / S −0.0263%	pay 0.0063% / 1h	24m 40s	$110K	—	100x
Short	HTX ADA-USDT	0.2453	0.0100	get 0.0100% / 8h	2h 24m	$1.3M	$5.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against GMX. 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 GMXbpFee HTXbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$84.83
Price spread: +0.051% → 0.000%: $5.18
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$103.65
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; HTX: live order book, 4 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell HTX live order book, 4 min ago	3.29 bp	11.8 bp −$12	21.0 bp −$210	68.6 bp −$6,858	doesn't fit

GMX: 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	0.2453	+0.027%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2453	+0.032%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	+0.021%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2451	−0.050%	$410K	$7.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0076%	1h	0.2454	+0.064%	$476K	$353K	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2455	+0.093%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2454	+0.056%	$42.5M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	+0.032%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	+0.045%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2454	+0.073%	$101.4M	$355.9M	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	0.2453	+0.032%	$70.6M	$99.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	+0.032%	$31.9M	$105.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2451	−0.050%	$96.9M	$57.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	+0.032%	$52.6M	$56.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2453	+0.036%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2453	+0.032%	$65.7M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2452	−0.009%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2454	+0.052%	$101K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	+0.171%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.068%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	+0.031%	$289K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.073%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	+0.024%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	+0.032%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	+0.031%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.073%	$9K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2453	+0.036%	$337	$13K	10x	as long as short
HTX ADA-USDTshort	+0.0100%	8h	0.2453	+0.051%	$1.3M	$5.0M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2453	+0.032%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2454	+0.078%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2452	+0.003%	$558K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2455	+0.122%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	+0.032%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2453	+0.045%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2453	+0.048%	$6.1M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0504% / S −0.0263%	1h	0.2452	long leg	$110K	—	100x
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.498%	$838	$131K	12x	as long as short