Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.036%

Price spread now: Polymarket Perps against BloFin−0.036%45s7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.348% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.429%−$43 on $10k

Price spread, last 4 days (all we have)−0.138%−$14 · spread now −0.036%, 7d avg −0.048%

Together, before fees−0.567%−$57 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.048%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ADA-USDT	0.2469	0.0220	pay 0.0220% / 8h	3h 12m	$4.6M	$5.8M	75x
Short	Polymarket Perps ADA-USD	0.2468	0.0100	get 0.0013% / 1h	12m 00s	$92K	$630K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$25.2
Price spread: −0.036% → −0.048%: $1.16
Slippage, 4 orders: −$14.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$58.84
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from BloFin: live order book, 12 min ago; Polymarket Perps: live order book, 41 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 BloFin live order book, 12 min ago	4.02 bp	10.0 bp −$10	17.1 bp −$171	24.1 bp −$2,413	54.3 bp −$27.1K
Sell Polymarket Perps live order book, 41 min ago	3.38 bp	7.4 bp −$7	7.9 bp −$79	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	0.2470	+0.030%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2470	+0.041%	$137K	$6.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2468	−0.027%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2469	+0.004%	$6.3M	$13.1M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.081%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2468	−0.041%	$397K	$8.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2471	+0.089%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2471	+0.065%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2470	+0.038%	$158K	$170K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2471	+0.079%	$104.5M	$390.7M	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	0.2470	+0.041%	$74.2M	$115.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2471	+0.081%	$33.0M	$111.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2469	0.000%	$100.4M	$62.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2469	0.000%	$59.6M	$62.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2468	−0.036%	$29.7M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2470	+0.041%	$67.2M	$51.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2469	0.000%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2463	−0.240%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2468	−0.038%	$66K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2469	0.000%	$290K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2472	+0.122%	$228K	$756K	50x	as long as short
Polymarket Perps ADA-USDshort	+0.0100%	1h	0.2468	−0.036%	$92K	$630K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2468	−0.041%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2470	+0.039%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2470	+0.037%	$8K	$746K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2469	+0.016%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2467	−0.082%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2470	+0.041%	$48.1M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2469	+0.013%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2468	−0.028%	$534K	$1.8M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0150%	1h	0.2470	+0.041%	$124K	$471K	15x	as long as short
Phoenix ADA	+0.0161%	1h	0.2468	−0.036%	$4K	$95K	10x	as long as short
BloFin ADA-USDTlong	+0.0220%	8h	0.2469	long leg	$4.6M	$5.8M	75x
Reya ADARUSDPERP	+0.0277%	1h	0.2467	−0.101%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0277%	1h	0.2470	+0.032%	$607K	$533K	50x	as long as short
Hyperliquid ADA	+0.0303%	1h	0.2472	+0.109%	$44.0M	$16.3M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0585%	1h	0.2469	−0.015%	$140K	—	100x	as long as short