Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%
Price spread now: Phemex against Lighter−0.129%7-day average −0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$250.250% of the position
Funding, last 7 days+0.124%+$12 on $10k
+Price spread, last 3 days (all we have)+0.340%+$34 · spread now −0.129%, 7d avg −0.011%
=Together, before fees+0.464%+ Points / potential airdropLighter: Season 3 · farm board+$46 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: Phemex is 0.119% cheaper against Lighter than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.011%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ADA | 0.2473 | 0.0096 | pay 0.0012% / 1h | 38m 24s | $2.5M | $1.3M | 10x |
| Short | Phemex ADAUSDT | 0.2470 | 0.0100 | get 0.0100% / 8h | 1h 38m | $48.2M | $5.8M | 50x |
Lighter ADA
Phemex ADAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $0.84
- Price spread: −0.129% → −0.011%
- −$11.89
- Slippage, 4 orders
- −$13.01
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$36.05
- Costs to cover
- 0.250%
- Break-even
- 307.4 days
Slippage from Lighter: live order book, 4 min ago; Phemex: 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 | 2.63 bp | 5.1 bp −$5 | 14.8 bp −$148 | 47.9 bp −$4,791 | doesn't fit |
| Sell Phemex live order book, 6 min ago | 2.03 bp | 8.0 bp −$8 | 14.8 bp −$148 | 41.4 bp −$4,138 | 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 | 0.2470 | −0.116% | $203K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2472 | −0.049% | $160K | $5.9M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2473 | −0.008% | $85K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0064% | 1h | 0.2470 | −0.129% | $419K | $7.3M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0094% | 1h | 0.2471 | −0.095% | $6.2M | $11.4M | 50x | as long as short |
| Lighter ADAlong | +0.0096% | 1h | 0.2473 | long leg | $2.5M | $1.3M | 10x | |
| Hyperliquid ADA | +0.0100% | 1h | 0.2475 | +0.069% | $42.9M | $14.4M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2473 | −0.008% | $1.2M | $919K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2472 | −0.057% | $158K | $146K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2474 | +0.043% | $102.7M | $355.9M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Kraken Futures PF_ADAUSD
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2474 | +0.032% | $71.9M | $100.1M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2475 | +0.073% | $32.1M | $105.9M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2473 | −0.008% | $97.7M | $58.0M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2473 | −0.008% | $53.5M | $50.4M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2474 | +0.020% | $30.5M | $18.2M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2471 | −0.089% | $66.2M | $42.9M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2473 | −0.008% | — | $20.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2471 | −0.077% | $104K | $418K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2473 | +0.001% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2472 | −0.042% | $66K | $279K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2472 | −0.049% | $298K | $3.7M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2473 | −0.008% | $56K | $580K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2474 | +0.024% | $97K | $626K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2473 | −0.008% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2471 | −0.076% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2472 | −0.049% | $9K | $755K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2472 | −0.069% | $340 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2471 | −0.096% | $1.3M | $5.1M | 75x | as long as short |
| Phemex ADAUSDTshort | +0.0100% | 8h | 0.2470 | −0.129% | $48.2M | $5.8M | 50x | |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2473 | −0.024% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2471 | −0.087% | $559K | $1.8M | 50x | as long as short |
| Phoenix ADA | +0.0131% | 1h | 0.2472 | −0.069% | $4K | $74K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2474 | +0.032% | $4.4M | $5.5M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0285% | 1h | 0.2474 | +0.037% | $1K | — | 15x | as long as short |
| Injective ADA/USDC PERP | +0.0288% | 1h | 0.2445 | −1.140% | $840 | $168K | 12x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0567% / S −0.0313% | 1h | 0.2473 | +0.003% | $123K | — | 100x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0600% | 1h | 0.2473 | −0.004% | $480K | $349K | 50x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
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
Paradex ADA-USD-PERP
Extended ADA-USD
Phoenix ADA
BloFin ADA-USDT
Reya ADARUSDPERP
Injective ADA/USDC PERP
GMX ADA/USD [WBTC.b-USDC]
Deribit ADA_USDC-PERPETUAL