Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against MEXC−0.020%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$130.125% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.202%−$20 on $10k

Price spread, last 4 days (all we have)+0.439%+$44 · spread now −0.020%, 7d avg +0.009%

Together, before fees+0.237%+$24 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 0.029% cheaper against MEXC than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ADA_USDT	0.2440	0.0100	pay 0.0100% / 8h	7h 31m	$58.7M	$68.0M	300x
Short	Polymarket Perps ADA-USD	0.2440	0.0100	get 0.0013% / 1h	31m 48s	$116K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against MEXC. 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 MEXCbpFee Polymarket PerpsbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → +0.009%: −$2.91
Slippage, 4 orders: −$4.5
Fee MEXC: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$15.41
Costs to cover: 0.125%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Polymarket Perps: live order book, 32 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 MEXC live order book, 2 min ago	2.05 bp	2.0 bp −$2	3.7 bp −$37	19.9 bp −$1,992	74.4 bp −$37.2K
Sell Polymarket Perps live order book, 32 min ago	0.20 bp	4.2 bp −$4	5.4 bp −$54	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
Kalshi KXADAPERP	0.0000%	8h	0.2443	+0.123%	$190K	$7.7M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2440	+0.016%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.270%	$849	$202K	12x	as long as short
Lighter ADA	+0.0096%	1h	0.2442	+0.082%	$2.4M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2442	+0.094%	$42.9M	$18.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2442	+0.086%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2442	+0.097%	$156K	$181K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2442	+0.082%	$103.2M	$406.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2441	+0.041%	$72.6M	$127.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2440	0.000%	$32.5M	$117.8M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2441	+0.041%	$99.8M	$62.1M	75x	as long as short
MEXC ADA_USDTlong	+0.0100%	8h	0.2440	long leg	$58.7M	$68.0M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2442	+0.061%	$29.4M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2441	+0.041%	$66.3M	$53.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2441	+0.041%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2441	+0.053%	$136K	$485K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2452	+0.496%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	+0.474%	$65K	$288K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.475%	$290K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2459	+0.779%	$75K	$895K	50x	as long as short
Polymarket Perps ADA-USDshort	+0.0100%	1h	0.2440	−0.020%	$116K	$1.4M	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2442	+0.082%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2454	+0.555%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2444	+0.156%	$8K	$751K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2441	+0.045%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2442	+0.088%	$1.3M	$7.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2442	+0.082%	$47.2M	$7.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2440	+0.015%	$541K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2443	+0.113%	$20K	—	20x	as long as short
Coinbase International ADA-PERP-INTX	+0.0152%	1h	0.2439	−0.041%	$365K	$8.4M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2451	+0.439%	$2K	$113K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0200%	1h	0.2441	+0.049%	$6.3M	$14.0M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2448	+0.328%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0272%	1h	0.2438	−0.082%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0368% / S −0.0295%	1h	0.2441	+0.029%	$87K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0487%	1h	0.2443	+0.135%	$634K	$739K	50x	as long as short
dYdX ADA-USD	+0.0733%	1h	0.2442	+0.087%	$203K	$3K	10x	as long as short