Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against Polymarket Perps+0.069%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$330.335% of the position

Long on Polymarket Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.222%+$22 on $10k

Price spread, last 3 days (all we have)−0.196%−$20 · spread now +0.069%, 7d avg −0.002%

Together, before fees+0.026%+$3 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: BingX is 0.072% dearer against Polymarket Perps than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ADA-USD	0.2446	0.0100	pay 0.0013% / 1h	8m 42s	$93K	$670K	10x
Short	BingX ADA-USDT	0.2448	0.0100	get 0.0100% / 8h	6h 08m	—	$20.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → −0.002%: $7.19
Slippage, 4 orders: −$15.46
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$26.27
Costs to cover: 0.335%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 59 min ago; BingX: live order book, 15 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, 59 min ago	2.42 bp	8.5 bp −$9	9.8 bp −$98	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	4.07 bp	9.1 bp −$9	9.1 bp −$91	15.5 bp −$1,551	30.4 bp −$15.2K

ADA on 36 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	0.2449	+0.090%	$201K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	−0.038%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.010%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2447	+0.029%	$404K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	+0.164%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2449	+0.099%	$1.2M	$977K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	+0.139%	$157K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2450	+0.146%	$102.8M	$371.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2449	+0.110%	$72.1M	$108.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	+0.151%	$32.6M	$106.6M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2447	+0.029%	$97.9M	$60.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	+0.110%	$58.9M	$52.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2449	+0.114%	$29.8M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2448	+0.069%	$65.7M	$47.2M	75x	as long as short
BingX ADA-USDTshort	+0.0100%	8h	0.2448	+0.069%	—	$20.5M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	−0.004%	$129K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	+0.359%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.396%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	+0.333%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.315%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USDlong	+0.0100%	1h	0.2446	long leg	$93K	$670K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2446	−0.012%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2447	+0.030%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.065%	$8K	$759K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	+0.033%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	−0.003%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	−0.012%	$47.6M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	+0.126%	$532K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0107%	8h	0.2449	+0.110%	$163K	$6.3M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2450	+0.156%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	+0.392%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0192%	1h	0.2451	+0.200%	$2.4M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2446	−0.013%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0355%	1h	0.2446	−0.011%	$6.2M	$12.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0363%	1h	0.2447	+0.037%	$500K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0415% / S −0.0202%	1h	0.2445	−0.048%	$95K	—	100x	as long as short