Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.035%

Price spread now: BloFin against Lighter+0.033%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.347%+$35 on $10k

Price spread, last 4 days (all we have)+0.138%+$14 · spread now +0.033%, 7d avg +0.013%

Together, before fees+0.485%+ Points / potential airdropLighter: Season 3 · farm board+$48 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.020% dearer against Lighter than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2430	0.0096	pay 0.0012% / 1h	20m 59s	$2.4M	$1.0M	10x
Short	BloFin ADA-USDT	0.2431	0.0220	get 0.0220% / 8h	2h 20m	$4.4M	$5.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now +0.033%Rate

Funding earned: $26.04
Price spread: +0.033% → +0.013%: $2.04
Slippage, 4 orders: −$19.35
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$3.27
Costs to cover: 0.313%
Break-even: 7.9 days

Slippage from Lighter: live order book, 6 min ago; BloFin: 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 Lighter live order book, 6 min ago	6.01 bp	9.1 bp −$9	16.6 bp −$166	46.0 bp −$4,603	doesn't fit
Sell BloFin live order book, 3 min ago	2.07 bp	8.1 bp −$8	11.4 bp −$114	28.2 bp −$2,817	50.5 bp −$25.3K

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
Kalshi KXADAPERP	0.0000%	8h	0.2431	+0.033%	$202K	$7.5M	3.2x	as long as short
dYdX ADA-USD	+0.0002%	1h	0.2430	−0.026%	$200K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2427	−0.118%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2428	−0.093%	$6.2M	$13.7M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2429	−0.029%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.679%	$849	$202K	12x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2430	long leg	$2.4M	$1.0M	10x
Hyperliquid ADA	+0.0100%	1h	0.2432	+0.070%	$41.9M	$17.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2432	+0.093%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2431	+0.052%	$156K	$176K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2434	+0.160%	$102.3M	$407.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2433	+0.115%	$71.4M	$123.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2435	+0.198%	$32.2M	$116.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2430	−0.008%	$98.8M	$64.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2435	+0.198%	$52.6M	$64.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2434	+0.140%	$29.2M	$15.7M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2435	+0.198%	$66.2M	$53.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2431	+0.033%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2430	−0.021%	$126K	$476K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2427	−0.129%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2420	−0.421%	$64K	$286K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2419	−0.463%	$284K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2420	−0.420%	$84K	$887K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2430	+0.004%	$114K	$918K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2428	−0.091%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2428	−0.087%	$39K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2429	−0.051%	$8K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2429	−0.070%	$334	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2427	−0.132%	$1.3M	$6.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2428	−0.091%	$47.1M	$7.4M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2432	+0.081%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2435	+0.190%	$522K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2428	−0.091%	$377K	$8.4M	50x	as long as short
BloFin ADA-USDTshort	+0.0220%	8h	0.2431	+0.033%	$4.4M	$5.8M	75x
Reya ADARUSDPERP	+0.0276%	1h	0.2431	+0.013%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0639% / S −0.0714%	1h	0.2427	−0.133%	$161K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0656%	1h	0.2430	−0.025%	$605K	$597K	50x	as long as short