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: Polymarket Perps against SunX−0.112%50s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as 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−$680.682% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.267%−$27 on $10k

Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.112%, 7d avg −0.039%

Together, before fees−0.198%−$20 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 0.073% cheaper against SunX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.039%. The two prices were read 50 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	SunX ADA-USDT	0.2437	0.0100	pay 0.0100% / 8h	6h 55m	$9K	$771K	30x
Short	Polymarket Perps ADA-USD	0.2434	0.0100	get 0.0013% / 1h	55m 27s	$92K	$655K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SunX. 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 SunXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.112%Rate

Funding earned: $0
Price spread: −0.112% → −0.039%: −$7.3
Slippage, 4 orders: −$52.18
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$75.48
Costs to cover: 0.682%
Break-even: never at this rate

Slippage from SunX: live order book, 56 min ago; Polymarket Perps: live order book, 12 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 SunX live order book, 56 min ago	20.80 bp	24.8 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 12 min ago	2.42 bp	6.8 bp −$7	8.6 bp −$86	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
ApeX Omni ADAUSDT	−0.0012%	1h	0.2452	+0.615%	$56K	$587K	50x	as long as short
dYdX ADA-USD	0.0000%	1h	0.2435	−0.094%	$200K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2442	+0.204%	$203K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2434	−0.105%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.394%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2433	−0.165%	$427K	$7.3M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2441	+0.155%	$4K	$87K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2436	−0.050%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2436	−0.022%	$1.2M	$966K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2436	−0.035%	$157K	$156K	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	0.2436	−0.058%	$101.4M	$373.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2434	−0.124%	$71.4M	$107.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2435	−0.083%	$32.2M	$107.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2434	−0.124%	$97.8M	$58.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2436	−0.042%	$50.1M	$50.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2436	−0.034%	$29.8M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2435	−0.083%	$65.1M	$46.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2435	−0.083%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2434	−0.112%	$128K	$423K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2434	−0.119%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	+0.552%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.618%	$295K	$3.7M	10x	as long as short
Polymarket Perps ADA-USDshort	+0.0100%	1h	0.2434	−0.112%	$92K	$655K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2434	−0.124%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	−0.015%	$39K	$3K	5x	as long as short
SunX ADA-USDTlong	+0.0100%	8h	0.2437	long leg	$9K	$771K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2435	−0.062%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2436	−0.026%	$1.3M	$5.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2435	−0.083%	$47.4M	$6.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2436	−0.024%	$530K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2439	+0.081%	$20K	$250	20x	as long as short
Lighter ADA	+0.0112%	1h	0.2437	+0.003%	$2.4M	$1.0M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0120%	1h	0.2436	−0.034%	$487K	$462K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	+0.410%	$4.4M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2435	−0.102%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0357%	1h	0.2435	−0.083%	$6.2M	$12.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0393%	1h	0.2435	−0.087%	$140K	—	100x	as long as short