Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Phemex+0.039%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)−0.069%−$7 · spread now +0.039%, 7d avg +0.007%

Together, before fees−0.019%−$2 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: HTX is 0.032% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2462	0.0100	pay 0.0100% / 8h	4h 10m	$47.6M	$7.9M	50x
Short	HTX ADA-USDT	0.2463	0.0100	get 0.0100% / 8h	4h 10m	$1.3M	$6.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phemex. 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 PhemexbpFee HTXbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0
Price spread: +0.039% → +0.007%: $3.24
Slippage, 4 orders: −$13.67
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$34.43
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from Phemex: live order book, 7 min ago; HTX: live order book, 1 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 Phemex live order book, 7 min ago	2.03 bp	8.0 bp −$8	11.6 bp −$116	38.8 bp −$3,884	doesn't fit
Sell HTX live order book, 1 min ago	2.34 bp	9.6 bp −$10	22.4 bp −$224	52.1 bp −$5,212	doesn't fit

ADA on 37 exchanges

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
Kraken Futures PF_ADAUSD	−0.0104%	1h	0.2462	+0.003%	$6.3M	$12.8M	50x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2463	+0.041%	$172K	$7.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2462	+0.006%	$84K	—	150x	as long as short
dYdX ADA-USD	+0.0005%	1h	0.2460	−0.066%	$207K	$6K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.366%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2463	+0.041%	$2.4M	$941K	10x	as long as short
Phoenix ADA	+0.0098%	1h	0.2465	+0.138%	$3K	$102K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2463	+0.035%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2463	+0.052%	$158K	$148K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2463	+0.035%	$105.8M	$370.8M	75x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2462	0.000%	$74.7M	$120.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2463	+0.041%	$32.4M	$102.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2461	−0.041%	$101.5M	$58.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2462	0.000%	$51.4M	$71.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2462	−0.008%	$29.5M	$14.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2463	+0.041%	$67.6M	$48.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2462	0.000%	—	$18.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2462	+0.020%	$143K	$449K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2460	−0.088%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2465	+0.125%	$66K	$290K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2466	+0.176%	$292K	$3.6M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2467	+0.203%	$66K	$765K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2462	−0.004%	$91K	$1.5M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	−0.041%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2462	−0.001%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2463	+0.039%	$8K	$646K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2462	+0.020%	$339	$6K	10x	as long as short
HTX ADA-USDTshort	+0.0100%	8h	0.2463	+0.039%	$1.3M	$6.6M	75x
Phemex ADAUSDTlong	+0.0100%	8h	0.2462	long leg	$47.6M	$7.9M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2462	+0.010%	$19K	$589	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2462	−0.014%	$545K	$1.7M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0116%	1h	0.2463	+0.037%	$570K	$834K	50x	as long as short
Hyperliquid ADA	+0.0130%	1h	0.2465	+0.110%	$43.9M	$16.3M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0216%	1h	0.2464	+0.081%	$399K	$7.6M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2462	0.000%	$4.6M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0267%	1h	0.2462	−0.011%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0368% / S −0.0294%	1h	0.2462	−0.018%	$87K	—	100x	as long as short