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+0.054%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$410.411% 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)−0.216%−$22 · spread now +0.054%, 7d avg −0.022%

Together, before fees−0.481%−$48 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 0.076% dearer against HTX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ADA-USDT	0.2517	0.0100	pay 0.0100% / 8h	3h 51m	$1.4M	$6.4M	75x
Short	Polymarket Perps ADA-USD	0.2518	0.0100	get 0.0013% / 1h	51m 46s	$98K	$695K	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 +0.054%Rate

Funding earned: $0
Price spread: +0.054% → −0.022%: $7.56
Slippage, 4 orders: −$21.13
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$33.58
Costs to cover: 0.411%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; Polymarket Perps: live order book, 66 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, 2 min ago	2.41 bp	16.1 bp −$16	58.2 bp −$582	91.2 bp −$9,117	doesn't fit
Sell Polymarket Perps live order book, 66 min ago	4.29 bp	8.3 bp −$8	11.8 bp −$118	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	0.2513	−0.178%	$207K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2516	−0.042%	$231K	$6.6M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2516	−0.028%	$88K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0025%	1h	0.2519	+0.072%	$6.5M	$12.7M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−1.830%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2519	+0.077%	$413K	$8.1M	50x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2516	−0.026%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2515	−0.085%	$163K	$160K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2516	−0.042%	$106.0M	$378.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2514	−0.121%	$74.0M	$110.4M	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	0.2516	−0.042%	$33.7M	$109.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2515	−0.081%	$101.7M	$59.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2516	−0.042%	$62.3M	$60.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2516	−0.046%	$30.3M	$15.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2517	−0.002%	$68.1M	$50.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2517	−0.002%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2489	−1.112%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2494	−0.905%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2488	−1.154%	$292K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2496	−0.836%	$230K	$748K	50x	as long as short
Polymarket Perps ADA-USDshort	+0.0100%	1h	0.2518	+0.054%	$98K	$695K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2518	+0.038%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2520	+0.127%	$41K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2521	+0.154%	$9K	$733K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2520	+0.117%	$347	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2517	long leg	$1.4M	$6.4M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2518	+0.038%	$49.1M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2516	−0.030%	$546K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0115%	8h	0.2517	−0.018%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0161%	1h	0.2478	−1.547%	$4K	$95K	10x	as long as short
Lighter ADA	+0.0176%	1h	0.2517	−0.002%	$2.5M	$1.1M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2514	−0.121%	$4.6M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2518	+0.038%	$1K	—	15x	as long as short
Backpack ADA_USDC_PERP	+0.0356%	1h	0.2519	+0.070%	$142K	$455K	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0602% / S −0.0547%	1h	0.2516	−0.054%	$136K	—	100x	as long as short
Hyperliquid ADA	+0.0602%	1h	0.2519	+0.073%	$45.1M	$15.9M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0822%	1h	0.2521	+0.173%	$626K	$506K	50x	as long as short