Funding you earn now, next payment 20:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.08 per $10,000 · paid last 24h +0.014%
Price spread now: Polymarket Perps against Phoenix−0.239%59s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.044%+$4 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Polymarket Perps is 0.239% cheaper against Phoenix than usual: you would sell low and buy high (−$24 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 59 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 | Phoenix ADA | 0.2467 | 0.0163 | pay 0.0020% / 1h | 57m 49s | $4K | $81K | 10x |
| Short | Polymarket Perps ADA-USD | 0.2461 | 0.0100 | get 0.0013% / 1h | 57m 49s | $96K | $704K | 10x |
Phoenix ADA
Polymarket Perps ADA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$13.31
- Price spread: −0.239% → 0.000%
- −$23.92
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$52.23
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Polymarket Perps: live order book, 30 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Polymarket Perps live order book, 30 min ago | 2.23 bp | 7.0 bp −$7 | 9.7 bp −$97 | doesn't fit | doesn't fit |
Phoenix: 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 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 | 0.2461 | −0.223% | $202K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2457 | −0.385% | $153K | $5.9M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2457 | −0.395% | $88K | — | 150x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0035% | 1h | 0.2455 | −0.446% | $477K | $359K | 50x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2451 | −0.628% | $431K | $7.1M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2455 | −0.462% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2452 | −0.604% | $42.5M | $14.3M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2452 | −0.583% | $1.2M | $1.1M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2462 | −0.185% | $157K | $148K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2453 | −0.530% | $102.1M | $357.7M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Deribit ADA_USDC-PERPETUAL
Coinbase International ADA-PERP-INTX
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2452 | −0.588% | $71.1M | $101.1M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2453 | −0.547% | $32.2M | $105.8M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2452 | −0.588% | $97.3M | $56.8M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2451 | −0.628% | $52.8M | $56.0M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2452 | −0.584% | $30.7M | $18.4M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2452 | −0.588% | $65.5M | $42.9M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2452 | −0.588% | — | $20.7M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2451 | −0.612% | $101K | $425K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2465 | −0.080% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2463 | −0.148% | $66K | $280K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2462 | −0.180% | $297K | $4.0M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2463 | −0.142% | $55K | $578K | 50x | as long as short |
| Polymarket Perps ADA-USDshort | +0.0100% | 1h | 0.2461 | −0.239% | $96K | $704K | 10x | |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2456 | −0.426% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2457 | −0.390% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2462 | −0.184% | $9K | $764K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2454 | −0.491% | $338 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2453 | −0.557% | $1.3M | $4.8M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2453 | −0.547% | $47.9M | $5.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0101% | 8h | 0.2462 | −0.171% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2451 | −0.620% | $566K | $1.8M | 50x | as long as short |
| Phoenix ADAlong | +0.0163% | 1h | 0.2467 | long leg | $4K | $81K | 10x | |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2466 | −0.020% | $4.4M | $5.4M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0287% | 1h | 0.2457 | −0.367% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0336% | 1h | 0.2453 | −0.553% | $6.1M | $11.7M | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0521% / S −0.0277% | 1h | 0.2456 | −0.416% | $113K | — | 100x | as long as short |
| Injective ADA/USDC PERP | +0.0533% | 1h | 0.2457 | −0.385% | $844 | $95K | 12x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
BloFin ADA-USDT
Reya ADARUSDPERP
Kraken Futures PF_ADAUSD
GMX ADA/USD [WBTC.b-USDC]
Injective ADA/USDC PERP