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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Polymarket Perps+0.209%57s7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as 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−$360.364% of the position

Long on Polymarket Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.246%+$25 on $10k

Price spread, last 4 days (all we have)−0.347%−$35 · spread now +0.209%, 7d avg +0.013%

Together, before fees−0.101%−$10 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: ApeX Omni is 0.195% dearer against Polymarket Perps than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +0.013%. The two prices were read 57 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	Polymarket Perps ADA-USD	0.2445	0.0100	pay 0.0013% / 1h	59m 30s	$121K	$1.1M	10x
Short	ApeX Omni ADAUSDT	0.2450	0.0100	get 0.0013% / 1h	59m 30s	$82K	$889K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Polymarket Perps. 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 Polymarket PerpsbpFee ApeX OmnibpOrdersPrice spread, now +0.209%Rate

Funding earned: $0
Price spread: +0.209% → +0.013%: $19.53
Slippage, 4 orders: −$18.43
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$16.9
Costs to cover: 0.364%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; ApeX Omni: live order book, 49 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 Polymarket Perps live order book, 4 min ago	1.43 bp	6.4 bp −$6	9.5 bp −$95	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 49 min ago	4.04 bp	12.8 bp −$13	44.4 bp −$444	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
Kalshi KXADAPERP	0.0000%	8h	0.2446	+0.045%	$187K	$7.6M	3.2x	as long as short
dYdX ADA-USD	+0.0001%	1h	0.2444	−0.057%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	+0.012%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2445	+0.014%	$6.3M	$13.8M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2450	+0.205%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.068%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2447	+0.094%	$2.4M	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2445	+0.004%	$6K	$6K	20x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2446	+0.045%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2446	+0.049%	$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	0.2446	+0.027%	$102.9M	$410.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2444	−0.037%	$72.2M	$124.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2446	+0.045%	$32.5M	$118.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2444	−0.037%	$99.9M	$63.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2445	+0.004%	$52.0M	$64.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	+0.012%	$29.3M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2445	+0.004%	$66.5M	$53.5M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2445	+0.004%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2445	−0.008%	$137K	$485K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2448	+0.129%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2449	+0.158%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	+0.128%	$288K	$4.0M	10x	as long as short
ApeX Omni ADAUSDTshort	+0.0100%	1h	0.2450	+0.209%	$82K	$889K	50x
Polymarket Perps ADA-USDlong	+0.0100%	1h	0.2445	long leg	$121K	$1.1M	10x
Derive ADA-PERP	+0.0100%	1h	0.2447	+0.068%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.123%	$8K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	+0.025%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	+0.053%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	+0.045%	$47.5M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2445	−0.004%	$524K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2448	+0.127%	$379K	$8.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2447	+0.078%	$21K	$250	20x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2450	+0.209%	$4.4M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2445	+0.004%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0420%	1h	0.2448	+0.123%	$43.0M	$18.2M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0568%	1h	0.2447	+0.078%	$623K	$613K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0631% / S −0.0728%	1h	0.2445	0.000%	$164K	—	100x	as long as short