ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0062%/8h= −6.8% APRnext payment −$0.08 per $10,000 · paid last 24h +0.003%

Price spread now: Lighter against Deribit+0.134%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$240.245% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 3 days (all we have)−0.327%−$33 · spread now +0.134%, 7d avg −0.017%

Together, before fees−0.427%+ Points / potential airdropLighter: Season 3 · farm board−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.152% dearer against Deribit than usual: you sell high and buy low (spread +0.134% now, against its 7-day average of −0.017%): +$15 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ADA_USDC-PERPETUAL	0.2454	0.0158	pay 0.0020% / 1h	12m 46s	$479K	$351K	50x
Short	Lighter ADA	0.2457	0.0096	get 0.0012% / 1h	12m 46s	$2.4M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Deribit. 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 DeribitbpFee LighterbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$13.02
Price spread: +0.134% → −0.017%: $15.17
Slippage, 4 orders: −$17.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.3
Costs to cover: 0.245%
Break-even: never at this rate

Slippage from Deribit: live order book, 6 min ago; Lighter: live order book, 4 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 Deribit live order book, 6 min ago	2.85 bp	9.6 bp −$10	16.0 bp −$160	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.42 bp	3.8 bp −$4	17.5 bp −$175	57.3 bp −$5,735	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	0.2456	+0.068%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2456	+0.086%	$154K	$6.0M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.041%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2459	+0.208%	$411K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2454	+0.008%	$6.2M	$11.6M	50x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2457	+0.134%	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2457	+0.106%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	+0.038%	$1.2M	$922K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.056%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2457	+0.126%	$102.0M	$360.5M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2455	+0.045%	$71.4M	$102.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2456	+0.086%	$31.9M	$105.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	+0.004%	$97.0M	$59.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2455	+0.045%	$52.8M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	+0.020%	$30.1M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2456	+0.086%	$65.8M	$43.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2455	+0.045%	—	$18.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	+0.041%	$101K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2458	+0.175%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2459	+0.202%	$66K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2458	+0.175%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2460	+0.249%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	−0.053%	$96K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	−0.037%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	−0.020%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.007%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2454	−0.004%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2453	−0.020%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2454	+0.004%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2456	+0.099%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2456	+0.066%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2455	+0.053%	$4K	$74K	10x	as long as short
Deribit ADA_USDC-PERPETUALlong	+0.0158%	1h	0.2454	long leg	$479K	$351K	50x
BloFin ADA-USDT	+0.0220%	8h	0.2454	+0.004%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2453	−0.054%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.697%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2452	−0.067%	$122K	—	100x	as long as short