ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.002%

Price spread now: Deribit against Lighter+0.016%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5,530as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5,540as in the Price arb table

costs, in and out, $10k−$5,54055.399% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.100%+$10 on $10k

Price spread, last 3 days (all we have)+0.190%+$19 · spread now +0.016%, 7d avg +0.015%

Together, before fees+0.290%+ Points / potential airdropLighter: Season 3 · farm board+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.100%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2448	0.0096	pay 0.0012% / 1h	45m 14s	$2.4M	$1.3M	10x
Short	Deribit ADA_USDC-PERPETUAL	0.2448	0	get 0.0000% / 1h	45m 14s	$475K	$353K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$20.16
Price spread: +0.016% → +0.015%: $0.12
Slippage, 4 orders: −$5,532.92
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$5,559.95
Costs to cover: 55.399%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Deribit: live order book, 43 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, 2 min ago	1.43 bp	4.0 bp −$4	13.4 bp −$134	49.6 bp −$4,961	doesn't fit
Sell Deribit live order book, 43 min ago	24.09 bp	29.4 bp −$29	doesn't fit	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	0.2447	−0.023%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2448	0.000%	$153K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUALshort	0.0000%	1h	0.2448	+0.016%	$475K	$353K	50x
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2447	−0.037%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2446	−0.082%	$409K	$7.2M	50x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2448	long leg	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2446	−0.090%	$42.3M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2448	−0.012%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	−0.028%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2447	−0.048%	$100.7M	$354.3M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2446	−0.082%	$70.4M	$99.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2446	−0.082%	$32.1M	$104.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2444	−0.163%	$96.9M	$57.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2445	−0.123%	$52.7M	$56.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2446	−0.082%	$30.4M	$18.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2446	−0.082%	$65.5M	$42.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2446	−0.082%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	−0.069%	$101K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2446	−0.102%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2448	−0.020%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2446	−0.065%	$286K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	−0.041%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2447	−0.025%	$96K	$679K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2448	0.000%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	0.000%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	−0.001%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.049%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2447	−0.034%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	−0.082%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2448	−0.001%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.050%	$560K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2449	+0.053%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	−0.041%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2447	−0.021%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2447	−0.045%	$6.2M	$11.5M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0521% / S −0.0277%	1h	0.2447	−0.037%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.368%	$844	$95K	12x	as long as short