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: HTX against Lighter−0.052%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Lighter Short on HTX

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)+0.203%+$20 · spread now −0.052%, 7d avg −0.007%

Together, before fees+0.392%+ Points / potential airdropLighter: Season 3 · farm board+$39 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: HTX is 0.045% cheaper against Lighter than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2456	0.0096	pay 0.0012% / 1h	23m 06s	$2.4M	$1.3M	10x
Short	HTX ADA-USDT	0.2455	0.0100	get 0.0100% / 8h	2h 23m	$1.3M	$5.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0.84
Price spread: −0.052% → −0.007%: −$4.53
Slippage, 4 orders: −$17.31
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$33
Costs to cover: 0.293%
Break-even: 282.0 days

Slippage from Lighter: live order book, 4 min ago; HTX: live order book, 6 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	2.04 bp	5.8 bp −$6	18.8 bp −$188	50.9 bp −$5,095	doesn't fit
Sell HTX live order book, 6 min ago	3.29 bp	11.8 bp −$12	21.0 bp −$210	68.6 bp −$6,858	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	0.2453	−0.135%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2454	−0.090%	$153K	$5.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2455	−0.061%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2452	−0.171%	$411K	$7.2M	50x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2456	long leg	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2456	−0.020%	$42.6M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2455	−0.049%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	−0.037%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	−0.049%	$101.4M	$354.9M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2455	−0.049%	$70.6M	$99.7M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	−0.049%	$31.9M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2454	−0.090%	$97.0M	$57.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	−0.090%	$52.6M	$56.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	−0.061%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2455	−0.049%	$65.8M	$42.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2454	−0.090%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2455	−0.028%	$101K	$409K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2456	+0.009%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	−0.094%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.131%	$289K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	−0.090%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	−0.045%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2455	−0.049%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2455	−0.037%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	−0.007%	$9K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2455	−0.028%	$338	$13K	10x	as long as short
HTX ADA-USDTshort	+0.0100%	8h	0.2455	−0.052%	$1.3M	$5.0M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2454	−0.090%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2455	−0.032%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	−0.062%	$558K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2455	−0.041%	$4K	$82K	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0198%	1h	0.2456	−0.004%	$477K	$353K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.033%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2455	−0.037%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0336%	1h	0.2455	−0.037%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2454	−0.075%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.660%	$838	$131K	12x	as long as short