Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Polymarket Perps−0.013%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on Polymarket Perps Short on HTX

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)+0.105%+$10 · spread now −0.013%, 7d avg +0.020%

Together, before fees+0.370%+$37 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: HTX is 0.033% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$3 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	Polymarket Perps ADA-USD	0.2450	0.0100	pay 0.0013% / 1h	7m 04s	$116K	$1.0M	10x
Short	HTX ADA-USDT	0.2449	0.0100	get 0.0100% / 8h	2h 07m	$1.3M	$7.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → +0.020%: −$3.25
Slippage, 4 orders: −$15.63
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$38.89
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; HTX: live order book, 2 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, 1 min ago	2.86 bp	6.9 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	0.33 bp	9.5 bp −$9	19.0 bp −$190	43.8 bp −$4,383	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
Kalshi KXADAPERP	0.0000%	8h	0.2450	+0.008%	$186K	$7.6M	3.2x	as long as short
dYdX ADA-USD	+0.0002%	1h	0.2448	−0.093%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	−0.018%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2450	+0.018%	$6.3M	$13.8M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2451	+0.045%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.865%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	+0.078%	$2.4M	$1.0M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	+0.020%	$42.8M	$18.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2450	+0.013%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	−0.007%	$157K	$178K	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	0.2449	−0.033%	$103.1M	$410.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2448	−0.073%	$72.3M	$124.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	−0.033%	$32.5M	$118.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2449	−0.033%	$100.0M	$65.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2449	−0.033%	$52.2M	$65.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	−0.004%	$29.4M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2449	−0.033%	$66.6M	$53.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2450	+0.008%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	0.000%	$134K	$483K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2447	−0.111%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2449	−0.020%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	−0.014%	$287K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.131%	$83K	$888K	50x	as long as short
Polymarket Perps ADA-USDlong	+0.0100%	1h	0.2450	long leg	$116K	$1.0M	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	+0.049%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	+0.091%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	+0.004%	$8K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.029%	$337	$13K	10x	as long as short
HTX ADA-USDTshort	+0.0100%	8h	0.2449	−0.013%	$1.3M	$7.0M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2449	−0.033%	$47.5M	$7.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2451	+0.061%	$524K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2451	+0.049%	$379K	$8.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2450	+0.002%	$21K	$250	20x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2451	+0.049%	$4.4M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2451	+0.029%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0631% / S −0.0728%	1h	0.2449	−0.020%	$164K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0648%	1h	0.2452	+0.110%	$624K	$612K	50x	as long as short