Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against HTX−0.057%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on HTX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$26 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now −0.057%, 7d avg −0.020%

Together, before fees−0.344%−$34 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 0.037% cheaper against HTX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ADA-USDT	0.2505	0.0100	pay 0.0100% / 8h	3h 29m	$1.4M	$6.7M	75x
Short	Polymarket Perps ADA-USD	0.2503	0.0100	get 0.0013% / 1h	29m 02s	$96K	$618K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against HTX. 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 HTXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.057%Rate

Funding earned: $0
Price spread: −0.057% → −0.020%: −$3.7
Slippage, 4 orders: −$19.15
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$42.85
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; Polymarket Perps: live order book, 24 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 HTX live order book, 5 min ago	2.56 bp	14.4 bp −$14	29.6 bp −$296	54.1 bp −$5,412	doesn't fit
Sell Polymarket Perps live order book, 24 min ago	3.38 bp	7.4 bp −$7	7.9 bp −$79	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	0.2505	−0.009%	$206K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2504	−0.030%	$152K	$6.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2502	−0.099%	$86K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0025%	1h	0.2503	−0.080%	$6.4M	$13.0M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−1.347%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2508	+0.130%	$388K	$8.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2504	−0.026%	$2.5M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2501	−0.141%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2506	+0.034%	$161K	$169K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2500	−0.177%	$106.6M	$383.2M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2499	−0.229%	$75.4M	$113.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2500	−0.189%	$33.6M	$111.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2500	−0.189%	$102.3M	$61.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2502	−0.109%	$60.3M	$61.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2503	−0.069%	$30.1M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2499	−0.229%	$68.0M	$51.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2501	−0.149%	—	$6.6M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2504	−0.027%	$4.4M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2504	−0.043%	$67K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2504	−0.017%	$303K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2505	+0.010%	$231K	$753K	50x	as long as short
Polymarket Perps ADA-USDshort	+0.0100%	1h	0.2503	−0.057%	$96K	$618K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2502	−0.109%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2503	−0.087%	$41K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2507	+0.089%	$9K	$737K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2502	−0.089%	$344	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2505	long leg	$1.4M	$6.7M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2502	−0.109%	$48.8M	$6.9M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2499	−0.218%	$542K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0113%	8h	0.2500	−0.170%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0161%	1h	0.2510	+0.190%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2502	−0.109%	$4.7M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2504	−0.032%	$1K	—	15x	as long as short
Backpack ADA_USDC_PERP	+0.0308%	1h	0.2501	−0.137%	$139K	$461K	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0350%	1h	0.2503	−0.065%	$615K	$533K	50x	as long as short
Hyperliquid ADA	+0.0465%	1h	0.2503	−0.057%	$44.8M	$16.0M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0617% / S −0.0569%	1h	0.2502	−0.117%	$139K	—	100x	as long as short