Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h 0.000%

Price spread now: Lighter against HTX+0.203%7-day average +0.005% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 3 days (all we have)−0.313%−$31 · spread now +0.203%, 7d avg +0.005%

Together, before fees−0.500%+ Points / potential airdropLighter: Season 3 · farm board−$50 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.198% dearer against HTX than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.005%. Mind the row above: over the last 7 days funding on this pair cost −0.188%, 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	HTX ADA-USDT	0.2446	0.0100	pay 0.0100% / 8h	6h 08m	$1.3M	$5.9M	75x
Short	Lighter ADA	0.2451	0.0192	get 0.0024% / 1h	8m 18s	$2.4M	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now +0.203%Rate

Funding earned: $19.32
Price spread: +0.203% → +0.005%: $19.79
Slippage, 4 orders: −$19.22
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $7.9
Costs to cover: 0.312%
Break-even: 4.1 days

Slippage from HTX: live order book, 1 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 HTX live order book, 1 min ago	1.94 bp	14.6 bp −$15	27.2 bp −$272	57.2 bp −$5,723	doesn't fit
Sell Lighter live order book, 4 min ago	2.03 bp	3.5 bp −$3	15.8 bp −$158	49.6 bp −$4,965	doesn't fit

ADA on 36 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	0.2449	+0.093%	$201K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	+0.334%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.013%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2447	+0.031%	$404K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2454	+0.314%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2450	+0.148%	$1.2M	$977K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	+0.142%	$157K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	+0.391%	$103.1M	$371.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2455	+0.359%	$72.3M	$108.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2456	+0.399%	$32.6M	$106.8M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2453	+0.277%	$98.1M	$60.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	+0.277%	$58.9M	$52.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2452	+0.220%	$29.9M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	+0.359%	$65.9M	$47.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2454	+0.318%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	−0.001%	$129K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	+0.361%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.399%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	+0.336%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.318%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	+0.264%	$93K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2455	+0.359%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2456	+0.408%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2450	+0.150%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2456	+0.408%	$338	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2446	long leg	$1.3M	$5.9M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2446	−0.009%	$47.6M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	+0.129%	$532K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0107%	8h	0.2449	+0.113%	$163K	$6.3M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2450	+0.158%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	+0.395%	$4K	$87K	10x	as long as short
Lighter ADAshort	+0.0192%	1h	0.2451	+0.203%	$2.4M	$1.0M	10x
Reya ADARUSDPERP	+0.0281%	1h	0.2452	+0.256%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0355%	1h	0.2446	−0.008%	$6.2M	$12.2M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2454	+0.322%	$95K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0565%	1h	0.2457	+0.440%	$502K	$471K	50x	as long as short