ADA

Alert: funding

Alert: spread

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: Deribit against Polymarket Perps+2.584%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs+$223as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Polymarket Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 3 days (all we have)−2.474%−$247 · spread now +2.584%, 7d avg +0.041%

Together, before fees−2.291%−$229 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$739 a day on $10k at the current rate, and Deribit is 2.543% dearer against Polymarket Perps than usual: you sell high and buy low: +$254 more if the spread goes back to its 7-day average of +0.041%.

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	Polymarket Perps ADA-USD	0.2434	0.0100	pay 0.0013% / 1h	24m 37s	$91K	$637K	10x
Short	Deribit ADA_USDC-PERPETUAL	0.2497	2.4745	get 0.3093% / 1h	24m 37s	$502K	$430K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +2.584%Rate

Funding earned: $5,175.45
Price spread: +2.584% → +0.041%: $254.26
Slippage, 4 orders: −$15.81
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $5,398.9
Costs to cover: 0.308%
Break-even: from the start

Slippage from Polymarket Perps: live order book, 53 min ago; Deribit: live order book, 54 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, 53 min ago	0.20 bp	8.1 bp −$8	8.7 bp −$87	doesn't fit	doesn't fit
Sell Deribit live order book, 54 min ago	2.85 bp	6.5 bp −$6	13.5 bp −$135	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	0.2434	−0.001%	$200K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2435	+0.021%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2435	+0.017%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2436	+0.062%	$402K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2436	+0.066%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2436	+0.053%	$42.2M	$14.2M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2435	+0.031%	$1.2M	$929K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2435	+0.025%	$156K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2435	+0.021%	$101.0M	$364.4M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2434	−0.021%	$70.6M	$103.6M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2435	+0.021%	$32.1M	$106.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2434	−0.021%	$96.6M	$60.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2434	−0.021%	$51.8M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2435	+0.016%	$29.8M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2435	+0.021%	$65.4M	$43.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2435	+0.021%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2436	+0.078%	$108K	$417K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2437	+0.112%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2442	+0.310%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	+0.169%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2442	+0.308%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USDlong	+0.0100%	1h	0.2434	long leg	$91K	$637K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2436	+0.062%	$6K	$33K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2437	+0.088%	$39K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2436	+0.060%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2437	+0.082%	$335	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2435	+0.016%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2437	+0.103%	$47.6M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2435	+0.010%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2434	−0.021%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2437	+0.086%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2440	+0.214%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2433	−0.062%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.499%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2435	+0.025%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2435	+0.036%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUALshort	+2.4745%	1h	0.2497	+2.584%	$502K	$430K	50x