Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.048%

Price spread now: GMX against HTX−0.027%7-day average −0.002% · you buy dearer than you sell

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

Long on HTX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.145%+$14 on $10k

Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.027%, 7d avg −0.002%

Together, before fees+0.212%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.025% cheaper against HTX than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of −0.002%). If the spread goes back, that is −$2 on $10k: about 11 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ADA-USDT	0.2481	0.0100	pay 0.0100% / 8h	5h 17m	$1.3M	$6.2M	75x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2481	L +0.0486% / S −0.0279%	get 0.0035% / 1h	17m 20s	$109K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.027%Rate

Funding earned: $37.5
Price spread: −0.027% → −0.002%: −$2.48
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $11.02
Costs to cover: 0.240%
Break-even: 4.9 days

Slippage unknown: HTX: live order book, 2 min ago; GMX: no order-book sample. 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 HTX live order book, 2 min ago	3.24 bp	12.4 bp −$12	28.3 bp −$283	71.2 bp −$7,120	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	0.2481	−0.036%	$204K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2479	−0.082%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.420%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2480	−0.057%	$414K	$7.7M	50x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2481	−0.017%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2481	−0.013%	$159K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2481	−0.017%	$105.5M	$371.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2481	−0.017%	$72.4M	$110.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2481	−0.017%	$33.0M	$107.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2480	−0.057%	$99.7M	$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	0.2481	−0.017%	$59.2M	$60.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2481	−0.025%	$29.9M	$16.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2480	−0.057%	$66.6M	$49.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2481	−0.017%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2479	−0.105%	$139K	$433K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2495	+0.549%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2487	+0.206%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2486	+0.174%	$294K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2496	+0.588%	$230K	$736K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2480	−0.037%	$95K	$678K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2481	−0.017%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2480	−0.039%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2483	+0.063%	$9K	$745K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2480	−0.037%	$341	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2481	long leg	$1.3M	$6.2M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2481	−0.017%	$48.3M	$6.5M	50x	as long as short
Kalshi KXADAPERP	+0.0103%	8h	0.2480	−0.057%	$160K	$6.3M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2479	−0.083%	$539K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0110%	8h	0.2481	−0.029%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0135%	1h	0.2483	+0.060%	$43.2M	$14.4M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2486	+0.177%	$4K	$90K	10x	as long as short
Lighter ADA	+0.0176%	1h	0.2483	+0.052%	$2.5M	$1.1M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2482	+0.024%	$4.5M	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0259%	1h	0.2480	−0.065%	$6.3M	$12.7M	50x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2480	−0.038%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0486% / S −0.0279%	1h	0.2481	−0.027%	$109K	—	100x
Deribit ADA_USDC-PERPETUAL	+0.0557%	1h	0.2482	+0.004%	$586K	$442K	50x	as long as short