Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against edgeX−0.397%49s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.315% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 3 days (all we have)+0.371%+$37 · spread now −0.397%, 7d avg +0.023%

Together, before fees+0.181%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$18 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: Lighter is 0.420% cheaper against edgeX than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.023%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ADAUSDC	0.2453	0.0100	pay 0.0050% / 4h	28m 28s	$65K	$282K	20x
Short	Lighter ADA	0.2443	0.0096	get 0.0012% / 1h	28m 28s	$2.4M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now −0.397%Rate

Funding earned: −$0.84
Price spread: −0.397% → +0.023%: −$42.02
Slippage, 4 orders: −$22.49
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$74.35
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from edgeX: live order book, 49 min ago; Lighter: live order book, 3 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 edgeX live order book, 49 min ago	6.10 bp	10.6 bp −$11	25.0 bp −$250	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	1.84 bp	4.1 bp −$4	13.2 bp −$132	43.8 bp −$4,384	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	0.2443	−0.406%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2443	−0.401%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2442	−0.460%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2442	−0.442%	$403K	$7.3M	50x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2443	−0.397%	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2442	−0.434%	$42.3M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2441	−0.471%	$1.2M	$928K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2442	−0.432%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2442	−0.442%	$101.5M	$363.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2442	−0.442%	$71.1M	$103.2M	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	0.2442	−0.442%	$32.2M	$106.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2441	−0.483%	$96.8M	$59.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2441	−0.483%	$52.6M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2442	−0.442%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2441	−0.483%	$65.5M	$43.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2443	−0.401%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2444	−0.348%	$108K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	−0.148%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDClong	+0.0100%	4h	0.2453	long leg	$65K	$282K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2449	−0.155%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.047%	$56K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2441	−0.470%	$92K	$634K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2441	−0.483%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2444	−0.346%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2445	−0.322%	$9K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2444	−0.381%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2443	−0.381%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2443	−0.401%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2442	−0.440%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2441	−0.481%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2444	−0.374%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2452	−0.018%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2444	−0.360%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.740%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2441	−0.478%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2441	−0.470%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4747%	1h	0.2505	+2.143%	$503K	$430K	50x	as long as short