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 +0.019%

Price spread now: Lighter against GRVT−0.343%48s7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as 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−$300.305% of the position

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$15 on $10k

Price spread, last 7 days+0.149%+$15 · spread now −0.343%, 7d avg −0.027%

Together, before fees−0.005%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board−$1 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 0.317% cheaper against GRVT than usual: you would sell low and buy high, −$32 on $10k if it goes back to its 7-day average of −0.027%. The two prices were read 48 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	GRVT ADA_USDT_Perp	0.2454	0.0100	pay 0.0100% / 8h	30m 23s	$292K	$3.8M	10x
Short	Lighter ADA	0.2445	0.0096	get 0.0012% / 1h	30m 23s	$2.4M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GRVT. 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 GRVTbpFee LighterbpOrdersPrice spread, now −0.343%Rate

Funding earned: −$0.84
Price spread: −0.343% → −0.027%: −$31.69
Slippage, 4 orders: −$21.47
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$63
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Lighter: live order book, 1 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 GRVT live order book, 4 min ago	2.04 bp	10.4 bp −$10	19.0 bp −$190	1468.2 bp −$146.8K	doesn't fit
Sell Lighter live order book, 1 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	0.2444	−0.387%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2450	−0.160%	$175K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2444	−0.422%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2450	−0.160%	$404K	$7.3M	50x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2445	−0.343%	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2444	−0.396%	$42.3M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2444	−0.394%	$1.2M	$928K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2445	−0.383%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2444	−0.405%	$101.6M	$362.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2443	−0.445%	$70.9M	$103.0M	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	0.2444	−0.405%	$32.2M	$106.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2442	−0.486%	$97.0M	$59.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2443	−0.445%	$52.6M	$50.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2443	−0.433%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2444	−0.405%	$65.6M	$43.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2444	−0.405%	—	$18.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	−0.180%	$110K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	−0.192%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.044%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perplong	+0.0100%	8h	0.2454	long leg	$292K	$3.8M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.003%	$56K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2443	−0.433%	$90K	$632K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2443	−0.445%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2450	−0.171%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	−0.161%	$9K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	−0.180%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2449	−0.193%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2449	−0.201%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2443	−0.425%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2443	−0.442%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2449	−0.182%	$6.2M	$11.6M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0117%	1h	0.2450	−0.164%	$492K	$430K	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2452	−0.062%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2448	−0.242%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.696%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2443	−0.441%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0564% / S −0.0313%	1h	0.2443	−0.435%	$121K	—	100x	as long as short