Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: edgeX against Lighter−0.268%49s7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as 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−$300.297% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.189%+$19 on $10k

Price spread, last 3 days (all we have)+0.380%+$38 · spread now −0.268%, 7d avg −0.023%

Together, before fees+0.569%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$57 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: edgeX is 0.245% cheaper against Lighter than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of −0.023%. The two prices were read 49 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	Lighter ADA	0.2452	0.0096	pay 0.0012% / 1h	2m 39s	$2.4M	$1.3M	10x
Short	edgeX ADAUSDC	0.2445	0.0100	get 0.0050% / 4h	2h 02m	$65K	$280K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.268%Rate

Funding earned: $0.84
Price spread: −0.268% → −0.023%: −$24.46
Slippage, 4 orders: −$20.73
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$53.35
Costs to cover: 0.297%
Break-even: 451.6 days

Slippage from Lighter: live order book, 4 min ago; edgeX: live order book, 20 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, 4 min ago	1.43 bp	5.9 bp −$6	15.2 bp −$152	51.4 bp −$5,142	doesn't fit
Sell edgeX live order book, 20 min ago	6.10 bp	10.6 bp −$11	30.5 bp −$305	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	0.2450	−0.087%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2451	−0.041%	$153K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2451	−0.052%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.082%	$407K	$7.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0076%	1h	0.2452	+0.016%	$476K	$353K	50x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2452	long leg	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2451	−0.029%	$42.5M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2451	−0.053%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	−0.065%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2451	−0.042%	$101.6M	$355.8M	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	0.2451	−0.041%	$70.5M	$99.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	−0.082%	$31.8M	$105.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2449	−0.122%	$96.5M	$58.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2450	−0.082%	$52.7M	$56.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	−0.061%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2451	−0.041%	$65.6M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2451	−0.041%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2452	+0.012%	$101K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2444	−0.310%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDCshort	+0.0100%	4h	0.2445	−0.268%	$65K	$280K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2445	−0.302%	$295K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2444	−0.326%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2450	−0.090%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	−0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	−0.017%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	−0.002%	$9K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2451	−0.041%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	−0.038%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2451	−0.041%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2451	−0.043%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2450	−0.073%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2446	−0.228%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2449	−0.122%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2450	−0.069%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2451	−0.028%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2451	−0.054%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2445	−0.285%	$840	$168K	12x	as long as short