Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against HTX−0.167%46s7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as 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−$340.341% of the position

Long on HTX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$26 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now −0.167%, 7d avg −0.020%

Together, before fees−0.190%−$19 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: Polymarket Perps is 0.147% cheaper against HTX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.020%. The two prices were read 46 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	HTX ADA-USDT	0.2444	0.0100	pay 0.0100% / 8h	2h 39m	$1.3M	$6.7M	75x
Short	Polymarket Perps ADA-USD	0.2440	0.0100	get 0.0013% / 1h	39m 25s	$110K	$746K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.167%Rate

Funding earned: $0
Price spread: −0.167% → −0.020%: −$14.71
Slippage, 4 orders: −$14.08
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$48.79
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; Polymarket Perps: live order book, 8 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, 5 min ago	0.02 bp	8.7 bp −$9	24.3 bp −$243	51.4 bp −$5,140	doesn't fit
Sell Polymarket Perps live order book, 8 min ago	3.04 bp	7.4 bp −$7	8.2 bp −$82	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	0.2442	−0.052%	$201K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2448	+0.177%	$157K	$7.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2442	−0.050%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2441	−0.091%	$6.2M	$13.3M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2459	+0.619%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.118%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2445	+0.058%	$2.4M	$989K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2441	−0.097%	$42.2M	$17.0M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2443	−0.025%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2443	−0.009%	$156K	$170K	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	0.2443	−0.025%	$103.1M	$395.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2442	−0.069%	$71.4M	$119.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2443	−0.028%	$32.6M	$112.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2441	−0.110%	$98.9M	$62.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2442	−0.069%	$58.2M	$63.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2440	−0.130%	$29.3M	$15.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2443	−0.028%	$66.4M	$52.1M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2442	−0.069%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	+0.103%	$117K	$469K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	+0.508%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2465	+0.857%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2459	+0.626%	$293K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.545%	$228K	$761K	50x	as long as short
Polymarket Perps ADA-USDshort	+0.0100%	1h	0.2440	−0.167%	$110K	$746K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2443	−0.028%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2444	−0.003%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2443	−0.028%	$8K	$749K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2442	−0.085%	$336	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2444	long leg	$1.3M	$6.7M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2445	+0.054%	$47.6M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2443	−0.016%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2442	−0.074%	$531K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2442	−0.069%	$383K	$8.2M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2459	+0.627%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0276%	1h	0.2441	−0.128%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0323%	1h	0.2444	+0.009%	$602K	$549K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0620% / S −0.0585%	1h	0.2443	−0.041%	$138K	—	100x	as long as short