Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Polymarket Perps+0.036%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on Polymarket Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 3 days (all we have)−0.193%−$19 · spread now +0.036%, 7d avg −0.014%

Together, before fees+0.017%+$2 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: Bitget is 0.051% dearer against Polymarket Perps than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ADA-USD	0.2478	0.0100	pay 0.0013% / 1h	8m 33s	$94K	$650K	10x
Short	Bitget ADAUSDT	0.2479	0.0100	get 0.0100% / 8h	7h 08m	$66.9M	$44.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.036%Rate

Funding earned: $0
Price spread: +0.036% → −0.014%: $5.05
Slippage, 4 orders: −$14.13
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$29.07
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 64 min ago; Bitget: 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, 64 min ago	2.46 bp	7.3 bp −$7	8.6 bp −$86	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.01 bp	12.0 bp −$12	15.5 bp −$155	33.0 bp −$3,300	92.6 bp −$46.3K

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	0.2477	−0.062%	$204K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2486	+0.319%	$207K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2481	+0.117%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.287%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2479	+0.036%	$424K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2480	+0.084%	$6.3M	$11.8M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2484	+0.230%	$4K	$84K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2481	+0.099%	$1.2M	$956K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2478	+0.015%	$159K	$150K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2478	−0.014%	$103.3M	$368.2M	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	0.2478	−0.004%	$72.7M	$105.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2479	+0.036%	$32.8M	$108.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2476	−0.085%	$98.9M	$60.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2476	−0.085%	$54.5M	$52.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2480	+0.069%	$30.5M	$17.8M	75x	as long as short
Bitget ADAUSDTshort	+0.0100%	8h	0.2479	+0.036%	$66.9M	$44.9M	75x
BingX ADA-USDT	+0.0100%	8h	0.2478	−0.004%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2481	+0.117%	$138K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2477	−0.041%	$4.3M	$967K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2479	+0.035%	$66K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2483	+0.197%	$294K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2478	−0.004%	$56K	$586K	50x	as long as short
Polymarket Perps ADA-USDlong	+0.0100%	1h	0.2478	long leg	$94K	$650K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2481	+0.117%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2482	+0.166%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2481	+0.118%	$9K	$766K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2481	+0.101%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2482	+0.152%	$1.3M	$5.6M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2481	+0.117%	$48.3M	$6.1M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2477	−0.027%	$540K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2477	−0.043%	$21K	$250	20x	as long as short
Lighter ADA	+0.0184%	1h	0.2479	+0.040%	$2.5M	$1.1M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2484	+0.238%	$4.5M	$5.7M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0234%	1h	0.2482	+0.149%	$500K	$451K	50x	as long as short
Hyperliquid ADA	+0.0242%	1h	0.2481	+0.121%	$43.3M	$14.2M	10x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2479	+0.037%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0393%	1h	0.2481	+0.121%	$143K	—	100x	as long as short