Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Polymarket Perps−0.041%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$220.225% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 4 days (all we have)−0.356%−$36 · spread now −0.041%, 7d avg +0.010%

Together, before fees−0.161%−$16 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: OKX is 0.050% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ADA-USD	0.2455	0.0100	pay 0.0013% / 1h	39m 23s	$116K	$1.4M	10x
Short	OKX ADA-USDT-SWAP	0.2454	0.0100	get 0.0100% / 8h	7h 39m	$32.7M	$118.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → +0.010%: −$5.02
Slippage, 4 orders: −$4.48
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$27.5
Costs to cover: 0.225%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 24 min ago; OKX: live order book, 5 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, 24 min ago	0.20 bp	4.2 bp −$4	9.9 bp −$99	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.03 bp	7.0 bp −$7	10.8 bp −$108	36.5 bp −$3,654	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	0.2454	−0.041%	$196K	$7.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.064%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.652%	$849	$202K	12x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	−0.044%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.001%	$157K	$181K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2454	−0.047%	$103.7M	$407.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2453	−0.081%	$73.1M	$127.1M	75x	as long as short
OKX ADA-USDT-SWAPshort	+0.0100%	8h	0.2454	−0.041%	$32.7M	$118.7M	50x
Gate ADA_USDT	+0.0100%	8h	0.2452	−0.122%	$100.2M	$62.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	−0.081%	$58.6M	$67.8M	300x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	−0.057%	$29.4M	$15.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2453	−0.081%	$66.6M	$53.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2453	−0.081%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2456	+0.029%	$140K	$486K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2453	−0.078%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2455	+0.002%	$66K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.122%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	0.000%	$75K	$896K	50x	as long as short
Polymarket Perps ADA-USDlong	+0.0100%	1h	0.2455	long leg	$116K	$1.4M	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	−0.081%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.009%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	−0.017%	$8K	$753K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	−0.102%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2452	−0.136%	$1.3M	$7.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2451	−0.163%	$47.4M	$7.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2452	−0.108%	$507K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2455	+0.012%	$21K	—	20x	as long as short
Hyperliquid ADA	+0.0118%	1h	0.2455	−0.012%	$43.1M	$18.5M	10x	as long as short
Coinbase International ADA-PERP-INTX	+0.0152%	1h	0.2456	+0.041%	$366K	$8.5M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2459	+0.175%	$3K	$113K	10x	as long as short
Lighter ADA	+0.0176%	1h	0.2454	−0.053%	$2.4M	$998K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0199%	1h	0.2452	−0.116%	$6.3M	$14.0M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	+0.041%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0272%	1h	0.2453	−0.081%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0362%	1h	0.2454	−0.024%	$636K	$739K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0369% / S −0.0295%	1h	0.2453	−0.090%	$87K	—	100x	as long as short
dYdX ADA-USD	+0.0525%	1h	0.2454	−0.032%	$202K	$2K	10x	as long as short