Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.001%

Price spread now: Lighter against Bybit+0.036%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 7 days−0.120%−$12 · spread now +0.036%, 7d avg −0.016%

Together, before fees−0.226%+ Points / potential airdropLighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.052% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.016%. Mind the row above: over the last 7 days funding on this pair cost −0.106%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ADAUSDT	0.2481	0.0100	pay 0.0100% / 8h	5h 16m	$72.4M	$110.5M	75x
Short	Lighter ADA	0.2482	0.0176	get 0.0022% / 1h	16m 23s	$2.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.036%Rate

Funding earned: $15.96
Price spread: +0.036% → −0.016%: $5.22
Slippage, 4 orders: −$18.16
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.98
Costs to cover: 0.292%
Break-even: 10.5 days

Slippage from Bybit: live order book, 3 min ago; Lighter: live order book, 6 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 Bybit live order book, 3 min ago	2.01 bp	7.5 bp −$8	10.7 bp −$107	31.2 bp −$3,119	162.1 bp −$81.0K
Sell Lighter live order book, 6 min ago	3.00 bp	7.0 bp −$7	21.7 bp −$217	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	0.2479	−0.072%	$204K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2480	−0.026%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.403%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2480	−0.040%	$414K	$7.7M	50x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2480	−0.055%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2481	−0.019%	$159K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2482	+0.043%	$105.5M	$371.6M	75x	as long as short
Bybit ADAUSDTlong	+0.0100%	8h	0.2481	long leg	$72.4M	$110.5M	75x
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2482	+0.040%	$33.1M	$107.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2480	−0.040%	$99.7M	$60.5M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ADA_USDT	+0.0100%	8h	0.2481	0.000%	$59.2M	$60.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2480	−0.044%	$29.9M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2480	−0.040%	$66.6M	$49.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2480	−0.040%	—	$19.9M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2482	+0.060%	$139K	$433K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2495	+0.566%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2487	+0.223%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2486	+0.190%	$294K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2496	+0.605%	$230K	$736K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2479	−0.064%	$95K	$678K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2481	0.000%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2480	−0.022%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2483	+0.080%	$9K	$745K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2480	−0.020%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2481	+0.017%	$1.3M	$6.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2481	0.000%	$48.3M	$6.5M	50x	as long as short
Kalshi KXADAPERP	+0.0103%	8h	0.2480	−0.040%	$160K	$6.3M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2480	−0.046%	$539K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0110%	8h	0.2481	−0.015%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0135%	1h	0.2482	+0.020%	$43.1M	$14.4M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2486	+0.193%	$4K	$90K	10x	as long as short
Lighter ADAshort	+0.0176%	1h	0.2482	+0.036%	$2.4M	$1.1M	10x
BloFin ADA-USDT	+0.0220%	8h	0.2482	+0.040%	$4.5M	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0259%	1h	0.2480	−0.048%	$6.3M	$12.7M	50x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2480	−0.041%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0486% / S −0.0279%	1h	0.2481	−0.013%	$109K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0557%	1h	0.2482	+0.020%	$586K	$442K	50x	as long as short