Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0261%/8h= +28.6% APRpaid last 24h −0.004%

Price spread now: Deribit against HTX+0.032%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 3 days (all we have)−0.012%−$1 · spread now +0.032%, 7d avg +0.021%

Together, before fees−0.102%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.021%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.090%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.090% in total (about -4.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ADA-USDT	0.2454	0.0100	pay 0.0100% / 8h	1h 25m	$1.3M	$5.2M	75x
Short	Deribit ADA_USDC-PERPETUAL	0.2455	0.0361	get 0.0045% / 1h	25m 19s	$479K	$352K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.032%Rate

Funding earned: $54.81
Price spread: +0.032% → +0.021%: $1.14
Slippage, 4 orders: −$17.08
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $19.87
Costs to cover: 0.361%
Break-even: 4.5 days

Slippage from HTX: live order book, 4 min ago; Deribit: live order book, 58 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	0.61 bp	11.9 bp −$12	20.7 bp −$207	52.0 bp −$5,195	doesn't fit
Sell Deribit live order book, 58 min ago	3.05 bp	7.3 bp −$7	14.5 bp −$145	doesn't fit	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	0.2451	−0.156%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2456	+0.065%	$154K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.035%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2450	−0.180%	$409K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2455	+0.004%	$6.2M	$11.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2456	+0.065%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2454	−0.017%	$42.5M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	−0.045%	$1.2M	$920K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	−0.172%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2454	−0.030%	$101.6M	$359.3M	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	0.2454	−0.017%	$71.3M	$101.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2454	−0.017%	$31.8M	$105.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2453	−0.057%	$96.7M	$58.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2452	−0.098%	$52.7M	$50.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2453	−0.070%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	−0.017%	$65.8M	$43.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2454	−0.017%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	−0.172%	$101K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2452	−0.090%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.065%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.052%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	+0.024%	$55K	$580K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2452	−0.119%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2454	−0.017%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	+0.017%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	−0.017%	$9K	$759K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2454	0.000%	$338	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2454	long leg	$1.3M	$5.2M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.017%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2450	−0.176%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	+0.005%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2451	−0.155%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2450	−0.180%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2453	−0.054%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.676%	$849	$202K	12x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0361%	1h	0.2455	+0.032%	$479K	$352K	50x
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2454	−0.026%	$122K	—	100x	as long as short