Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0315%/8h= −34.5% APRpaid last 24h −0.110%

Price spread now: HTX against GMX−0.049%7-day average +0.002% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.338%−$34 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now −0.049%, 7d avg +0.002%

Together, before fees−0.329%−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and HTX is 0.051% cheaper against GMX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ADA/USD [WBTC.b-USDC]	0.2449	L +0.0415% / S −0.0202%	pay 0.0052% / 1h	19m 24s	$95K	—	100x
Short	HTX ADA-USDT	0.2448	0.0100	get 0.0100% / 8h	6h 19m	$1.3M	$5.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against GMX. 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 GMXbpFee HTXbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$66.19
Price spread: −0.049% → +0.002%: −$5.12
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$95.31
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; HTX: live order book, 5 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell HTX live order book, 5 min ago	0.59 bp	11.9 bp −$12	19.1 bp −$191	47.9 bp −$4,785	doesn't fit

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 36 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	0.2452	+0.130%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	+0.171%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.906%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2462	+0.538%	$406K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2456	+0.297%	$42.8M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	+0.196%	$1.2M	$969K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2453	+0.162%	$157K	$157K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	+0.252%	$102.9M	$371.9M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2454	+0.212%	$72.1M	$108.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	+0.334%	$32.5M	$107.4M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2453	+0.171%	$97.8M	$60.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	+0.212%	$58.5M	$52.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	+0.216%	$29.9M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	+0.252%	$65.7M	$47.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2455	+0.252%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2451	+0.093%	$126K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	+0.295%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2457	+0.348%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2459	+0.424%	$300K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.334%	$56K	$588K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	+0.269%	$93K	$669K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2455	+0.252%	$6K	$27K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2450	+0.048%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	+0.047%	$9K	$762K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.028%	$337	$13K	10x	as long as short
HTX ADA-USDTshort	+0.0100%	8h	0.2448	−0.049%	$1.3M	$5.8M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2449	+0.007%	$47.7M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	+0.205%	$532K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2455	+0.233%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0111%	8h	0.2451	+0.089%	$163K	$6.3M	3.2x	as long as short
Phoenix ADA	+0.0163%	1h	0.2453	+0.187%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0184%	1h	0.2455	+0.265%	$2.4M	$1.0M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0240%	1h	0.2450	+0.048%	$501K	$470K	50x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2455	+0.272%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0355%	1h	0.2449	−0.008%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]long	L +0.0415% / S −0.0202%	1h	0.2449	long leg	$95K	—	100x