Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against HTX+0.053%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$360.361% 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 4 days (all we have)+0.018%+$2 · spread now +0.053%, 7d avg −0.006%

Together, before fees−0.047%−$5 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 0.059% dearer against HTX than usual: you sell high and buy low, +$6 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	0.2468	0.0100	pay 0.0100% / 8h	5h 09m	$1.3M	$6.3M	75x
Short	Phemex ADAUSDT	0.2469	0.0100	get 0.0100% / 8h	5h 09m	$48.1M	$6.5M	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 +0.053%Rate

Funding earned: $0
Price spread: +0.053% → −0.006%: $5.91
Slippage, 4 orders: −$12.12
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$30.21
Costs to cover: 0.361%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Phemex: live order book, 4 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	0.02 bp	10.3 bp −$10	22.0 bp −$220	50.0 bp −$4,995	doesn't fit
Sell Phemex live order book, 4 min ago	2.02 bp	8.0 bp −$8	13.6 bp −$136	41.7 bp −$4,174	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	0.2472	+0.179%	$203K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2470	+0.094%	$146K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2467	−0.013%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.135%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2467	−0.028%	$415K	$7.7M	50x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2469	+0.052%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2472	+0.194%	$159K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2467	−0.042%	$104.7M	$372.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2465	−0.109%	$72.0M	$110.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2467	−0.028%	$32.8M	$106.6M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2465	−0.109%	$99.0M	$60.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2465	−0.109%	$62.0M	$61.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2467	−0.007%	$29.8M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2466	−0.068%	$66.3M	$49.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2467	−0.028%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2469	+0.045%	$132K	$443K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2467	−0.027%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2476	+0.349%	$66K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2477	+0.394%	$293K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2475	+0.297%	$228K	$737K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2471	+0.135%	$94K	$680K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2468	+0.013%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2468	+0.029%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2474	+0.258%	$9K	$743K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2469	+0.033%	$340	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2468	long leg	$1.3M	$6.3M	75x
Phemex ADAUSDTshort	+0.0100%	8h	0.2469	+0.053%	$48.1M	$6.5M	50x
Extended ADA-USD	+0.0104%	1h	0.2466	−0.074%	$536K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2472	+0.195%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0131%	1h	0.2467	−0.028%	$43.2M	$14.6M	10x	as long as short
Lighter ADA	+0.0152%	1h	0.2470	+0.098%	$2.4M	$1.1M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2477	+0.386%	$4K	$90K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2475	+0.297%	$4.6M	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0260%	1h	0.2468	+0.012%	$6.3M	$12.8M	50x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2467	−0.010%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0485% / S −0.0279%	1h	0.2467	−0.027%	$108K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4759%	1h	0.2529	+2.477%	$597K	$443K	50x	as long as short