Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against HTX−0.036%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on HTX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 3 days (all we have)+0.065%+$6 · spread now −0.036%, 7d avg −0.006%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.030% cheaper against HTX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ADA-USDT	0.2444	0.0100	pay 0.0100% / 8h	29m 24s	$1.3M	$5.3M	75x
Short	Phemex ADAUSDT	0.2443	0.0100	get 0.0100% / 8h	29m 24s	$47.7M	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → −0.006%: −$2.96
Slippage, 4 orders: −$16.19
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$43.15
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; Phemex: live order book, 5 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, 5 min ago	1.55 bp	8.8 bp −$9	19.4 bp −$194	44.4 bp −$4,442	doesn't fit
Sell Phemex live order book, 5 min ago	2.04 bp	11.9 bp −$12	19.4 bp −$194	47.7 bp −$4,767	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	0.2443	−0.040%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2446	+0.087%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2443	−0.053%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2442	−0.077%	$403K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2444	+0.001%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2443	−0.056%	$42.3M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2442	−0.059%	$1.2M	$928K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2443	−0.034%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2443	−0.044%	$101.5M	$363.0M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2443	−0.036%	$71.0M	$103.1M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2445	+0.046%	$32.2M	$106.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2441	−0.117%	$96.8M	$59.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2441	−0.117%	$52.6M	$50.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2442	−0.085%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2445	+0.046%	$65.6M	$43.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2443	−0.036%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2443	−0.052%	$108K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	+0.219%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	+0.367%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	+0.211%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.415%	$56K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2442	−0.097%	$90K	$632K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2444	+0.005%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2444	+0.020%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2445	+0.044%	$9K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2444	−0.015%	$336	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2444	long leg	$1.3M	$5.3M	75x
Phemex ADAUSDTshort	+0.0100%	8h	0.2443	−0.036%	$47.7M	$5.9M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2443	−0.050%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2444	+0.007%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2444	−0.008%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2452	+0.349%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2448	+0.169%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.110%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2441	−0.113%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2442	−0.079%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4747%	1h	0.2505	+2.518%	$503K	$430K	50x	as long as short