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: MEXC against Lighter−0.090%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$130.126% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days+0.076%+$8 · spread now −0.090%, 7d avg +0.020%

Together, before fees+0.178%+ Points / potential airdropLighter: Season 3 · farm board+$18 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: MEXC is 0.110% cheaper against Lighter than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2451	0.0096	pay 0.0012% / 1h	2m 07s	$2.4M	$1.3M	10x
Short	MEXC ADA_USDT	0.2449	0.0100	get 0.0100% / 8h	2h 02m	$52.6M	$56.8M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0.84
Price spread: −0.090% → +0.020%: −$10.98
Slippage, 4 orders: −$12.62
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$22.75
Costs to cover: 0.126%
Break-even: 196.6 days

Slippage from Lighter: live order book, 5 min ago; MEXC: 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	1.43 bp	5.9 bp −$6	15.2 bp −$152	51.4 bp −$5,142	doesn't fit
Sell MEXC live order book, 2 min ago	2.04 bp	2.0 bp −$2	2.7 bp −$27	16.0 bp −$1,598	51.7 bp −$25.9K

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	−0.054%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2452	+0.033%	$153K	$5.9M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2451	−0.012%	$476K	$353K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2450	−0.057%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.114%	$407K	$7.2M	50x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2451	long leg	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2450	−0.037%	$42.5M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2450	−0.037%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2450	−0.032%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2449	−0.073%	$101.5M	$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	0.2450	−0.049%	$70.5M	$99.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	−0.090%	$31.8M	$105.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2448	−0.131%	$96.5M	$58.3M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2449	−0.090%	$52.6M	$56.8M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	−0.053%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2449	−0.090%	$65.6M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2449	−0.090%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2450	−0.037%	$101K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2444	−0.278%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2445	−0.235%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2445	−0.269%	$295K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2444	−0.294%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2450	−0.033%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	−0.008%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2451	+0.001%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2451	−0.010%	$9K	$758K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	−0.061%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	−0.027%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2450	−0.049%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2451	−0.010%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	−0.080%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2446	−0.196%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2449	−0.090%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2450	−0.038%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2450	−0.060%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2450	−0.043%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2445	−0.253%	$840	$168K	12x	as long as short