Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: dYdX against HTX−0.225%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$363as in the Funding arb table

Net, price: spread back to 7d avg − costs−$364as in the Price arb table

costs, in and out, $10k−$3453.445% of the position

Long on HTX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 3 days (all we have)+0.072%+$7 · spread now −0.225%, 7d avg −0.026%

Together, before fees−0.111%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.198% cheaper against HTX than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ADA-USDT	0.2458	0.0100	pay 0.0100% / 8h	6h 29m	$1.3M	$5.8M	75x
Short	dYdX ADA-USD	0.2453	0	get 0.0000% / 1h	29m 58s	$202K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.225%Rate

Funding earned: −$21
Price spread: −0.225% → −0.026%: −$19.84
Slippage, 4 orders: −$322.5
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$385.35
Costs to cover: 3.445%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; dYdX: live order book, 39 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, 4 min ago	2.59 bp	11.8 bp −$12	26.3 bp −$263	58.6 bp −$5,860	doesn't fit
Sell dYdX live order book, 39 min ago	75.22 bp	80.2 bp −$80	80.2 bp −$802	82.3 bp −$8,233	137.5 bp −$68.8K

ADA on 36 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-USDshort	0.0000%	1h	0.2453	−0.225%	$202K	$3K	10x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	−0.116%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.519%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2451	−0.294%	$399K	$7.4M	50x	as long as short
Gate ADA_USDT	+0.0097%	8h	0.2458	−0.009%	$98.0M	$59.7M	75x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2460	+0.084%	$42.9M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2457	−0.051%	$1.2M	$969K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	−0.205%	$159K	$158K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2459	+0.031%	$102.8M	$373.8M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2458	−0.009%	$72.2M	$108.9M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2459	+0.031%	$32.6M	$108.0M	50x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2458	−0.009%	$49.5M	$51.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	−0.001%	$30.0M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2458	−0.009%	$65.7M	$46.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2458	−0.009%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2459	+0.048%	$126K	$421K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2452	−0.249%	$4.2M	$991K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.198%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.305%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	−0.172%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2456	−0.083%	$92K	$665K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	−0.091%	$6K	$27K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2458	−0.029%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2457	−0.052%	$9K	$769K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	−0.030%	$338	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2458	long leg	$1.3M	$5.8M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2459	+0.031%	$47.9M	$6.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2458	−0.016%	$532K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2453	−0.232%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0112%	8h	0.2452	−0.253%	$148K	$6.3M	3.2x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	−0.042%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0184%	1h	0.2460	+0.052%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2456	−0.110%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0353%	1h	0.2458	−0.024%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2455	−0.132%	$95K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.1053%	1h	0.2459	+0.044%	$503K	$471K	50x	as long as short