Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%

Price spread now: Gate against Lighter−0.098%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 7 days+0.155%+$15 · spread now −0.098%, 7d avg −0.003%

Together, before fees+0.272%+ Points / potential airdropLighter: Season 3 · farm board+$27 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: Gate is 0.095% cheaper against Lighter than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2453	0.0096	pay 0.0012% / 1h	34m 28s	$2.4M	$1.3M	10x
Short	Gate ADA_USDT	0.2451	0.0100	get 0.0100% / 8h	34m 28s	$97.3M	$59.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.098%Rate

Funding earned: $0.84
Price spread: −0.098% → −0.003%: −$9.48
Slippage, 4 orders: −$18.82
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$42.46
Costs to cover: 0.338%
Break-even: 360.9 days

Slippage from Lighter: live order book, 2 min ago; Gate: 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 Lighter live order book, 2 min ago	2.04 bp	5.2 bp −$5	11.6 bp −$116	42.9 bp −$4,294	doesn't fit
Sell Gate live order book, 4 min ago	2.04 bp	13.1 bp −$13	17.4 bp −$174	81.1 bp −$8,114	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	0.2452	−0.072%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2454	+0.024%	$175K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	−0.031%	$84K	—	150x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0035%	1h	0.2453	−0.024%	$493K	$430K	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2453	−0.016%	$405K	$7.3M	50x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2453	long leg	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2453	−0.012%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	−0.029%	$1.2M	$925K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2452	−0.044%	$158K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2452	−0.057%	$101.9M	$362.4M	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	−0.098%	$71.4M	$102.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2451	−0.098%	$32.3M	$106.8M	50x	as long as short
Gate ADA_USDTshort	+0.0100%	8h	0.2451	−0.098%	$97.3M	$59.6M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2452	−0.057%	$52.9M	$50.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2452	−0.049%	$30.1M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2451	−0.098%	$65.8M	$43.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2453	−0.016%	—	$18.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2453	−0.012%	$110K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	+0.033%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.123%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	+0.133%	$292K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.147%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2451	−0.090%	$95K	$627K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2452	−0.057%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	−0.032%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2452	−0.058%	$9K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	−0.057%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2453	−0.009%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2452	−0.057%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2452	−0.042%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2451	−0.094%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2452	−0.053%	$6.2M	$11.6M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2459	+0.220%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	−0.016%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.717%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2451	−0.092%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2452	−0.056%	$122K	—	100x	as long as short