ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0012%/8h= −1.3% APRnext payment −$0.01 per $10,000 · paid last 24h +0.007%

Price spread now: Hyperliquid against Lighter−0.029%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on Lighter Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 7 days+0.093%+$9 · spread now −0.029%, 7d avg +0.026%

Together, before fees+0.072%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$7 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 Hyperliquid is 0.055% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2442	0.0112	pay 0.0014% / 1h	56m 45s	$2.4M	$1.0M	10x
Short	Hyperliquid ADA	0.2442	0.0100	get 0.0013% / 1h	56m 45s	$42.6M	$14.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$2.52
Price spread: −0.029% → +0.026%: −$5.46
Slippage, 4 orders: −$23.09
Fee Lighter: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$40.07
Costs to cover: 0.321%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Hyperliquid: live order book, 7 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	2.85 bp	9.5 bp −$9	16.1 bp −$161	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	1.63 bp	8.0 bp −$8	11.1 bp −$111	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	0.2448	+0.208%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2452	+0.389%	$205K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2447	+0.188%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.167%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2451	+0.348%	$430K	$7.4M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2456	+0.565%	$4K	$80K	10x	as long as short
Hyperliquid ADAshort	+0.0100%	1h	0.2442	−0.029%	$42.6M	$14.3M	10x
Aster ADAUSDT	+0.0100%	8h	0.2444	+0.052%	$1.2M	$966K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	+0.293%	$157K	$156K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2442	−0.005%	$101.6M	$373.1M	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	0.2440	−0.102%	$71.6M	$107.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2440	−0.102%	$32.3M	$107.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2441	−0.061%	$98.1M	$57.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2442	−0.020%	$50.3M	$50.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2444	+0.041%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2440	−0.102%	$65.7M	$45.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2442	−0.020%	—	$6.5M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2451	+0.351%	$4.2M	$966K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	+0.414%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	+0.448%	$290K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	+0.471%	$56K	$586K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2451	+0.332%	$93K	$654K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2447	+0.184%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	+0.210%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.226%	$9K	$771K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	+0.164%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2447	+0.199%	$1.3M	$5.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	+0.143%	$47.6M	$6.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2441	−0.045%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2451	+0.365%	$21K	$250	20x	as long as short
Lighter ADAlong	+0.0112%	1h	0.2442	long leg	$2.4M	$1.0M	10x
Deribit ADA_USDC-PERPETUAL	+0.0159%	1h	0.2447	+0.197%	$490K	$461K	50x	as long as short
Backpack ADA_USDC_PERP	+0.0174%	1h	0.2444	+0.066%	$129K	$423K	15x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	+0.184%	$4.4M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2449	+0.267%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0355%	1h	0.2446	+0.151%	$6.2M	$12.0M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0626% / S −0.0393%	1h	0.2447	+0.181%	$141K	—	100x	as long as short