Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.008%

Price spread now: Coinbase International against HTX+0.117%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$410.411% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 4 days (all we have)−0.180%−$18 · spread now +0.117%, 7d avg −0.039%

Together, before fees−0.357%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.156% dearer against HTX than usual: you sell high and buy low (spread +0.117% now, against its 7-day average of −0.039%): +$16 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ADA-USDT	0.2479	0.0100	pay 0.0100% / 8h	5h 18m	$1.3M	$6.2M	75x
Short	Coinbase International ADA-PERP-INTX	0.2482	0.0056	get 0.0007% / 1h	18m 14s	$415K	$7.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$9.24
Price spread: +0.117% → −0.039%: $15.62
Slippage, 4 orders: −$19.09
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$34.71
Costs to cover: 0.411%
Break-even: never at this rate

Slippage from HTX: live order book, 1 min ago; Coinbase International: live order book, 6 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 HTX live order book, 1 min ago	3.24 bp	12.4 bp −$12	28.3 bp −$283	71.2 bp −$7,120	doesn't fit
Sell Coinbase International live order book, 6 min ago	2.01 bp	9.1 bp −$9	16.2 bp −$162	doesn't fit	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	0.2480	+0.055%	$204K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2476	−0.112%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.327%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0056%	1h	0.2482	+0.117%	$415K	$7.7M	50x
Aster ADAUSDT	+0.0100%	8h	0.2479	−0.001%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2482	+0.125%	$159K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2479	−0.012%	$105.4M	$371.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2478	−0.044%	$72.2M	$110.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2479	−0.004%	$33.0M	$106.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2477	−0.085%	$99.6M	$60.4M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ADA_USDT	+0.0100%	8h	0.2478	−0.044%	$57.6M	$60.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2478	−0.032%	$29.8M	$16.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2479	−0.004%	$66.5M	$49.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2479	−0.004%	—	$19.9M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2479	−0.012%	$139K	$433K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2495	+0.643%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2495	+0.657%	$66K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2482	+0.127%	$294K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2496	+0.682%	$230K	$736K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2479	0.000%	$96K	$678K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2477	−0.085%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2478	−0.046%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2481	+0.076%	$8K	$746K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2477	−0.065%	$341	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2479	long leg	$1.3M	$6.2M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2479	−0.004%	$48.3M	$6.5M	50x	as long as short
Kalshi KXADAPERP	+0.0103%	8h	0.2484	+0.198%	$160K	$6.3M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2477	−0.070%	$539K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0110%	8h	0.2482	+0.125%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0129%	1h	0.2481	+0.061%	$43.1M	$14.4M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2492	+0.516%	$4K	$90K	10x	as long as short
Lighter ADA	+0.0184%	1h	0.2480	+0.044%	$2.4M	$1.1M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2485	+0.238%	$4.5M	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0259%	1h	0.2478	−0.058%	$6.3M	$12.6M	50x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2479	−0.005%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0437%	1h	0.2478	−0.048%	$585K	$442K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0486% / S −0.0279%	1h	0.2476	−0.140%	$108K	—	100x	as long as short