Funding you earn now, next payment 04:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h −0.008%
Price spread now: Coinbase International against Lighter−0.160%7-day average −0.046% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$360.360% of the position
Funding, last 7 days+0.006%+$1 on $10k
+Price spread, last 4 days (all we have)+0.266%+$27 · spread now −0.160%, 7d avg −0.046%
=Together, before fees+0.272%+ Points / potential airdropLighter: Season 3 · farm board+$27 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Coinbase International is 0.114% cheaper against Lighter than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.046%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ADA | 0.2504 | 0.0096 | pay 0.0012% / 1h | 31m 43s | $2.5M | $1.1M | 10x |
| Short | Coinbase International ADA-PERP-INTX | 0.2500 | 0.0080 | get 0.0010% / 1h | 31m 43s | $392K | $8.2M | 50x |
Lighter ADA
Coinbase International ADA-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$3.36
- Price spread: −0.160% → −0.046%
- −$11.4
- Slippage, 4 orders
- −$26.04
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$50.8
- Costs to cover
- 0.360%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 5 min ago; Coinbase International: live order book, 2 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, 5 min ago | 2.59 bp | 6.2 bp −$6 | 16.5 bp −$165 | 45.6 bp −$4,556 | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 4.00 bp | 12.8 bp −$13 | 18.2 bp −$182 | doesn't fit | 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 | 0.2501 | −0.131% | $206K | $2K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2502 | −0.080% | $152K | $6.8M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2499 | −0.189% | $85K | — | 150x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0025% | 1h | 0.2500 | −0.160% | $6.4M | $13.0M | 50x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | −1.318% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTXshort | +0.0080% | 1h | 0.2500 | −0.160% | $392K | $8.2M | 50x | |
| Lighter ADAlong | +0.0096% | 1h | 0.2504 | long leg | $2.5M | $1.1M | 10x | |
| Aster ADAUSDT | +0.0100% | 8h | 0.2501 | −0.120% | $1.2M | $1.0M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2502 | −0.076% | $161K | $170K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2502 | −0.069% | $106.7M | $383.0M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Kraken Futures PF_ADAUSD
Injective ADA/USDC PERP
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2501 | −0.120% | $75.0M | $112.9M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2502 | −0.080% | $33.6M | $111.0M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2500 | −0.160% | $102.2M | $60.9M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2501 | −0.120% | $61.3M | $61.8M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2502 | −0.092% | $30.1M | $15.3M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2502 | −0.080% | $68.1M | $51.3M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2502 | −0.080% | — | $6.5M | — | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2508 | +0.162% | $4.4M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2507 | +0.130% | $67K | $285K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2507 | +0.120% | $303K | $3.9M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2507 | +0.120% | $231K | $753K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2500 | −0.144% | $96K | $617K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2500 | −0.160% | $6K | $6K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2501 | −0.125% | $41K | $2K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2501 | −0.121% | $9K | $738K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2500 | −0.140% | $344 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2500 | −0.163% | $1.4M | $6.7M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2500 | −0.160% | $48.7M | $6.9M | 50x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2502 | −0.089% | $542K | $1.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0113% | 8h | 0.2500 | −0.141% | $21K | $250 | 20x | as long as short |
| Phoenix ADA | +0.0161% | 1h | 0.2508 | +0.152% | $4K | $95K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2501 | −0.120% | $4.6M | $5.9M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0277% | 1h | 0.2499 | −0.181% | $1K | — | 15x | as long as short |
| Backpack ADA_USDC_PERP | +0.0311% | 1h | 0.2500 | −0.148% | $139K | $461K | 15x | as long as short |
| Hyperliquid ADA | +0.0474% | 1h | 0.2504 | +0.004% | $44.8M | $16.0M | 10x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0550% | 1h | 0.2502 | −0.092% | $621K | $523K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0616% / S −0.0569% | 1h | 0.2500 | −0.176% | $139K | — | 100x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Extended ADA-USD
Paradex ADA-USD-PERP
Phoenix ADA
BloFin ADA-USDT
Reya ADARUSDPERP
Backpack ADA_USDC_PERP
Hyperliquid ADA
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]