Funding you earn now, next payment 22:00 UTC+0.0241%/8h= +26.4% APRnext payment +$0.30 per $10,000 · paid last 24h +0.004%
Price spread now: Kraken Futures against Lighter−0.233%7-day average −0.011% · 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−$55as in the Price arb table
costs, in and out, $10k−$330.329% of the position
Funding, last 7 days+0.105%+$11 on $10k
+Price spread, last 3 days (all we have)+0.431%+$43 · spread now −0.233%, 7d avg −0.011%
=Together, before fees+0.536%+ Points / potential airdropLighter: Season 3 · farm board+$54 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.222% cheaper against Lighter than usual: you would sell low and buy high (spread −0.233% now, against its 7-day average of −0.011%). If the spread goes back, that is −$22 on $10k: about 3.1 days of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.105% in total) that is about 15 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.105% in total (about 5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ADA | 0.2455 | 0.0096 | pay 0.0012% / 1h | 27m 23s | $2.4M | $1.3M | 10x |
| Short | Kraken Futures PF_ADAUSD | 0.2449 | 0.0337 | get 0.0042% / 1h | 27m 23s | $6.1M | $11.4M | 50x |
Lighter ADA
Kraken Futures PF_ADAUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $50.59
- Price spread: −0.233% → −0.011%
- −$22.23
- Slippage, 4 orders
- −$22.93
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$4.57
- Costs to cover
- 0.329%
- Break-even
- 7.6 days
Slippage from Lighter: live order book, 5 min ago; Kraken Futures: live order book, 2 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 | 1.84 bp | 2.9 bp −$3 | 11.5 bp −$115 | 44.8 bp −$4,476 | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 1.43 bp | 12.8 bp −$13 | 16.2 bp −$162 | 72.0 bp −$7,201 | 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 | −0.075% | $202K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2449 | −0.253% | $153K | $5.9M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2453 | −0.090% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2448 | −0.293% | $408K | $7.2M | 50x | as long as short |
| Lighter ADAlong | +0.0096% | 1h | 0.2455 | long leg | $2.4M | $1.3M | 10x | |
| Hyperliquid ADA | +0.0100% | 1h | 0.2454 | −0.037% | $42.6M | $14.5M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2453 | −0.086% | $1.2M | $999K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2454 | −0.045% | $157K | $147K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2454 | −0.049% | $101.2M | $355.5M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2453 | −0.090% | $70.6M | $99.6M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2454 | −0.049% | $31.9M | $105.3M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2452 | −0.130% | $96.9M | $57.6M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2453 | −0.090% | $52.6M | $56.6M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2453 | −0.086% | $30.3M | $18.2M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2454 | −0.049% | $65.7M | $42.7M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2454 | −0.049% | — | $6.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2453 | −0.098% | $101K | $411K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2448 | −0.277% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2448 | −0.290% | $65K | $280K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2448 | −0.293% | $288K | $3.9M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2449 | −0.253% | $55K | $579K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2454 | −0.069% | $97K | $633K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2454 | −0.049% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2454 | −0.048% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2455 | −0.009% | $9K | $758K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2454 | −0.069% | $337 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2451 | −0.187% | $1.3M | $4.9M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2451 | −0.171% | $47.8M | $5.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2454 | −0.034% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2453 | −0.081% | $558K | $1.8M | 50x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0158% | 1h | 0.2455 | −0.016% | $477K | $353K | 50x | as long as short |
| Phoenix ADA | +0.0195% | 1h | 0.2449 | −0.236% | $4K | $82K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2447 | −0.334% | $4.4M | $5.4M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0286% | 1h | 0.2454 | −0.056% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSDshort | +0.0337% | 1h | 0.2449 | −0.233% | $6.1M | $11.4M | 50x | |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0437% / S −0.0207% | 1h | 0.2453 | −0.084% | $96K | — | 100x | as long as short |
| Injective ADA/USDC PERP | +0.0533% | 1h | 0.2440 | −0.619% | $838 | $131K | 12x | as long as short |
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Deribit ADA_USDC-PERPETUAL
Phoenix ADA
BloFin ADA-USDT
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]
Injective ADA/USDC PERP