Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%
Price spread now: Kalshi against Polymarket Perps+0.029%7-day average −0.076% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$320.323% of the position
Funding, last 7 days−0.050%−$5 on $10k
+Price spread, last 3 days (all we have)−0.064%−$6 · spread now +0.029%, 7d avg −0.076%
=The price spread pays, funding is against you. Kalshi is 0.105% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of −0.076%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 7 days (−0.050% in total) that is about 15 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps ADA-USD | 0.2445 | 0.0100 | pay 0.0013% / 1h | 49m 03s | $93K | $643K | 10x |
| Short | Kalshi KXADAPERP | 0.2446 | 0 | get 0.0000% / 8h | 3h 49m | $194K | $6.1M | 3.2x |
Polymarket Perps ADA-USD
Kalshi KXADAPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$21
- Price spread: +0.029% → −0.076%
- $10.46
- Slippage, 4 orders
- −$14.27
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$42.81
- Costs to cover
- 0.323%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 24 min ago; Kalshi: 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, 24 min ago | 2.46 bp | 7.3 bp −$7 | 8.6 bp −$86 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 5 min ago | 2.04 bp | 7.0 bp −$7 | 18.7 bp −$187 | 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 | 0.2445 | −0.030% | $201K | $4K | 10x | as long as short |
| Kalshi KXADAPERPshort | 0.0000% | 8h | 0.2446 | +0.029% | $194K | $6.1M | 3.2x | |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2445 | −0.016% | $84K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +1.051% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0040% | 1h | 0.2445 | −0.012% | $409K | $7.2M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0048% | 1h | 0.2447 | +0.073% | $6.1M | $11.7M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2448 | +0.102% | $2.4M | $1.0M | 10x | as long as short |
| Phoenix ADA | +0.0098% | 1h | 0.2447 | +0.082% | $4K | $84K | 10x | as long as short |
| Hyperliquid ADA | +0.0100% | 1h | 0.2448 | +0.102% | $42.5M | $14.3M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2446 | +0.029% | $1.2M | $939K | 75x | as long as short |
dYdX ADA-USD
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTX
Kraken Futures PF_ADAUSD
Lighter ADA
Phoenix ADA
Hyperliquid ADA
Aster ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica ADA | +0.0100% | 1h | 0.2446 | +0.034% | $157K | $145K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2446 | +0.035% | $101.3M | $364.9M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2446 | +0.029% | $71.4M | $103.9M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2447 | +0.070% | $32.3M | $106.8M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2446 | +0.029% | $97.5M | $58.1M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2446 | +0.029% | $52.4M | $50.8M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2446 | +0.033% | $30.0M | $17.9M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2446 | +0.029% | $65.7M | $43.7M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2446 | +0.029% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2447 | +0.061% | $108K | $416K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2447 | +0.074% | $4.2M | $967K | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2452 | +0.288% | $65K | $281K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2453 | +0.303% | $289K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2448 | +0.110% | $55K | $583K | 50x | as long as short |
| Polymarket Perps ADA-USDlong | +0.0100% | 1h | 0.2445 | long leg | $93K | $643K | 10x | |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2446 | +0.029% | $6K | $29K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2447 | +0.072% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2447 | +0.070% | $9K | $766K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2447 | +0.070% | $337 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2446 | +0.043% | $1.3M | $5.4M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2446 | +0.029% | $47.8M | $5.9M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2446 | +0.036% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2447 | +0.069% | $550K | $1.8M | 50x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2447 | +0.070% | $4.4M | $5.5M | 75x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0281% | 1h | 0.2448 | +0.098% | $491K | $428K | 50x | as long as short |
| Reya ADARUSDPERP | +0.0283% | 1h | 0.2446 | +0.010% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0623% / S −0.0393% | 1h | 0.2445 | −0.006% | $141K | — | 100x | as long as short |
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDT
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
BloFin ADA-USDT
Deribit ADA_USDC-PERPETUAL
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]