Funding you earn now, next payment 00:00 UTC−2.4645%/8h= −2698.6% APRnext payment −$30.81 per $10,000 · paid last 24h 0.000%
Price spread now: Polymarket Perps against Deribit−2.519%7-day average −0.041% · you buy dearer than you sell
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$279as in the Price arb table
costs, in and out, $10k−$310.308% of the position
Funding, last 7 days−0.183%−$18 on $10k
+Price spread, last 3 days (all we have)+2.409%+$241 · spread now −2.519%, 7d avg −0.041%
=Both sides work against this trade now: funding costs −$739 a day on $10k at the current rate, and Polymarket Perps is 2.477% cheaper against Deribit than usual: you would sell low and buy high (−$248 if the spread goes back to its 7-day average of −0.041%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.183% in total (about -9.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$30.81 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ADA_USDC-PERPETUAL | 0.2497 | 2.4745 | pay 0.3093% / 1h | 25m 08s | $502K | $430K | 50x |
| Short | Polymarket Perps ADA-USD | 0.2434 | 0.0100 | get 0.0013% / 1h | 25m 08s | $91K | $637K | 10x |
Deribit ADA_USDC-PERPETUAL
Polymarket Perps ADA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps against Deribit. 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
- −$5,175.45
- Price spread: −2.519% → −0.041%
- −$247.75
- Slippage, 4 orders
- −$15.81
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$5,454.01
- Costs to cover
- 0.308%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 54 min ago; Polymarket Perps: live order book, 53 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 Deribit live order book, 54 min ago | 2.85 bp | 9.6 bp −$10 | 16.0 bp −$160 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 53 min ago | 0.20 bp | 6.6 bp −$7 | 9.0 bp −$90 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ADA-USD | 0.0000% | 1h | 0.2436 | −2.475% | $200K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2435 | −2.499% | $186K | $6.1M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2435 | −2.502% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2436 | −2.459% | $402K | $7.3M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2438 | −2.390% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2436 | −2.471% | $42.2M | $14.4M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2435 | −2.479% | $1.2M | $929K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2436 | −2.476% | $156K | $145K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2436 | −2.453% | $101.1M | $364.3M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2435 | −2.499% | $70.6M | $103.5M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Lighter ADA
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2437 | −2.419% | $32.1M | $106.4M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2435 | −2.499% | $96.6M | $59.9M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2436 | −2.459% | $51.8M | $50.9M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2436 | −2.451% | $29.8M | $18.0M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2436 | −2.459% | $65.5M | $43.5M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2436 | −2.459% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2436 | −2.443% | $108K | $417K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2437 | −2.410% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2442 | −2.217% | $65K | $280K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2439 | −2.354% | $291K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2442 | −2.218% | $55K | $582K | 50x | as long as short |
| Polymarket Perps ADA-USDshort | +0.0100% | 1h | 0.2434 | −2.519% | $91K | $637K | 10x | |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2436 | −2.459% | $6K | $33K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2437 | −2.433% | $39K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2436 | −2.460% | $9K | $765K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2437 | −2.439% | $335 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2435 | −2.503% | $1.3M | $5.4M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2437 | −2.419% | $47.6M | $5.9M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2435 | −2.485% | $20K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2436 | −2.457% | $551K | $1.8M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0114% | 1h | 0.2437 | −2.435% | $6.1M | $11.7M | 50x | as long as short |
| Phoenix ADA | +0.0130% | 1h | 0.2440 | −2.310% | $4K | $78K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2433 | −2.579% | $4.4M | $5.5M | 75x | as long as short |
| Injective ADA/USDC PERP | +0.0254% | 1h | 0.2471 | −1.057% | $849 | $202K | 12x | as long as short |
| Reya ADARUSDPERP | +0.0284% | 1h | 0.2435 | −2.494% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0563% / S −0.0313% | 1h | 0.2435 | −2.484% | $121K | — | 100x | as long as short |
| Deribit ADA_USDC-PERPETUALlong | +2.4745% | 1h | 0.2497 | long leg | $502K | $430K | 50x |
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
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
Kraken Futures PF_ADAUSD
Phoenix ADA
BloFin ADA-USDT
Injective ADA/USDC PERP
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]