Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h 0.000%

Price spread now: Injective against HTX−0.107%65s7-day average −0.353% · you buy dearer than you sell

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

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 4 days (all we have)−0.411%−$41 · spread now −0.107%, 7d avg −0.353%

Together, before fees−0.514%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.247% dearer against HTX than usual: you sell high and buy low (spread −0.107% now, against its 7-day average of −0.353%): +$25 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 12 days. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ADA-USDT	0.2474	0.0100	pay 0.0100% / 8h	4h 31m	$1.3M	$6.4M	75x
Short	Injective ADA/USDC PERP	0.2471	0.0033	get 0.0004% / 1h	31m 19s	$849	$202K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against HTX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −0.107%Rate

Funding earned: −$14
Price spread: −0.107% → −0.353%: $24.66
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1.36
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: HTX: live order book, 3 min ago; Injective: 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, 3 min ago	0.02 bp	9.9 bp −$10	25.8 bp −$258	56.9 bp −$5,689	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	0.2477	+0.118%	$204K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2472	−0.066%	$155K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2476	+0.098%	$85K	—	150x	as long as short
Injective ADA/USDC PERPshort	+0.0033%	1h	0.2471	−0.107%	$849	$202K	12x
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2449	−0.996%	$424K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0091%	1h	0.2474	+0.001%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2479	+0.233%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2478	+0.176%	$1.2M	$985K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2478	+0.163%	$161K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2477	+0.136%	$104.9M	$370.2M	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	0.2475	+0.055%	$72.2M	$108.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2476	+0.095%	$33.0M	$105.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2476	+0.095%	$98.9M	$59.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2477	+0.136%	$61.4M	$60.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2477	+0.128%	$29.9M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2477	+0.136%	$66.6M	$49.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2476	+0.095%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2475	+0.043%	$123K	$445K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	−0.993%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	−0.711%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2456	−0.693%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2466	−0.309%	$227K	$743K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2478	+0.160%	$95K	$688K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2476	+0.095%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2473	−0.014%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2474	+0.014%	$8K	$733K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2474	+0.015%	$340	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2474	long leg	$1.3M	$6.4M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2473	−0.026%	$48.2M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2477	+0.150%	$536K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2478	+0.191%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0181%	1h	0.2479	+0.225%	$43.1M	$14.8M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2463	−0.438%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2469	−0.188%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2477	+0.136%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0596% / S −0.0547%	1h	0.2476	+0.088%	$133K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0721%	1h	0.2475	+0.051%	$600K	$489K	50x	as long as short