Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0163%/8h= +17.8% APRpaid last 24h +0.044%

Price spread now: GMX against HTX−0.022%7-day average 0.000% · 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)+0.139%+$14 on $10k

Price spread, last 3 days (all we have)+0.187%+$19 · spread now −0.022%, 7d avg 0.000%

Together, before fees+0.326%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.023% cheaper against HTX than usual: you would sell low and buy high (spread −0.022% now, against its 7-day average of 0.000%). 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	0.2448	0.0100	pay 0.0100% / 8h	2h 08m	$1.3M	$5.0M	75x
Short	GMX ADA/USD [WBTC.b-USDC]	0.2447	L +0.0504% / S −0.0263%	get 0.0033% / 1h	8m 18s	$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 −0.022%Rate

Funding earned: $34.14
Price spread: −0.022% → 0.000%: −$2.28
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $7.85
Costs to cover: 0.240%
Break-even: 5.4 days

Slippage unknown: HTX: live order book, 1 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, 1 min ago	0.02 bp	11.4 bp −$11	23.8 bp −$238	62.8 bp −$6,281	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	0.2448	+0.002%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2450	+0.087%	$153K	$5.9M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2449	+0.026%	$475K	$353K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2448	−0.006%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.250%	$407K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2450	+0.067%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2448	+0.018%	$42.4M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2448	−0.006%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2448	+0.018%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2448	+0.021%	$101.4M	$355.7M	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	0.2448	+0.005%	$70.4M	$99.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2447	−0.036%	$31.8M	$105.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2446	−0.076%	$96.6M	$58.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2448	+0.005%	$52.5M	$56.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	+0.009%	$30.2M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2448	+0.005%	$65.5M	$42.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2448	+0.005%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2449	+0.038%	$101K	$414K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	+0.064%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	+0.075%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2450	+0.087%	$296K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2449	+0.046%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2448	−0.007%	$96K	$623K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2447	−0.036%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	+0.015%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2449	+0.045%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.015%	$337	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2448	long leg	$1.3M	$5.0M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2448	+0.005%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2449	+0.034%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.026%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2452	+0.181%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2452	+0.169%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2447	−0.022%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2448	+0.012%	$6.1M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]short	L +0.0504% / S −0.0263%	1h	0.2447	−0.022%	$109K	—	100x
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.322%	$838	$131K	12x	as long as short