Funding arb · Price arb /

ADA

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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: HTX against Phemex+0.020%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$420.418% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$7 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.020%, 7d avg +0.007%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ADAUSDT	0.2449	0.0100	pay 0.0100% / 8h	2h 06m	$47.5M	$7.4M	50x
Short	HTX ADA-USDT	0.2449	0.0100	get 0.0100% / 8h	2h 06m	$1.3M	$7.0M	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 +0.020%Rate

Funding earned: $0
Price spread: +0.020% → +0.007%: $1.27
Slippage, 4 orders: −$17.8
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$40.53
Costs to cover: 0.418%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; HTX: live order book, 2 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, 2 min ago	2.04 bp	8.0 bp −$8	11.4 bp −$114	40.0 bp −$4,004	doesn't fit
Sell HTX live order book, 2 min ago	0.33 bp	9.5 bp −$9	19.0 bp −$190	43.8 bp −$4,383	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
Kalshi KXADAPERP	0.0000%	8h	0.2450	+0.041%	$186K	$7.6M	3.2x	as long as short
dYdX ADA-USD	+0.0002%	1h	0.2448	−0.038%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	+0.015%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2450	+0.051%	$6.3M	$13.8M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2451	+0.078%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.898%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	+0.110%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2451	+0.086%	$42.9M	$18.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2451	+0.082%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	+0.057%	$157K	$178K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2450	+0.060%	$103.1M	$410.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2449	0.000%	$72.4M	$124.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2452	+0.122%	$32.5M	$118.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2448	−0.041%	$100.0M	$65.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2450	+0.041%	$52.2M	$65.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	+0.033%	$29.4M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2450	+0.041%	$66.6M	$53.6M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2450	+0.041%	—	$20.2M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	+0.033%	$134K	$483K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2447	−0.079%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2449	+0.013%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	+0.019%	$287K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.163%	$83K	$888K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2450	+0.033%	$116K	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	+0.082%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	+0.124%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	+0.037%	$8K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.061%	$337	$13K	10x	as long as short
HTX ADA-USDTshort	+0.0100%	8h	0.2449	+0.020%	$1.3M	$7.0M	75x
Phemex ADAUSDTlong	+0.0100%	8h	0.2449	long leg	$47.5M	$7.4M	50x
Extended ADA-USD	+0.0104%	1h	0.2448	−0.049%	$524K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2451	+0.082%	$379K	$8.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2451	+0.098%	$21K	$250	20x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2451	+0.082%	$4.4M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2451	+0.062%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0631% / S −0.0728%	1h	0.2449	+0.012%	$164K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0648%	1h	0.2452	+0.143%	$624K	$612K	50x	as long as short