Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: SunX against Lighter+0.003%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$650.650% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now +0.003%, 7d avg +0.013%

Together, before fees+0.313%+ Points / potential airdropLighter: Season 3 · farm board+$31 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2483	0.0096	pay 0.0012% / 1h	0m 11s	$2.5M	$1.1M	10x
Short	SunX ADA-USDT	0.2483	0.0100	get 0.0100% / 8h	4h 00m	$9K	$730K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.003%Rate

Funding earned: $0.84
Price spread: +0.003% → +0.013%: −$0.93
Slippage, 4 orders: −$57.04
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$65.13
Costs to cover: 0.650%
Break-even: 549.8 days

Slippage from Lighter: live order book, 2 min ago; SunX: live order book, 22 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, 2 min ago	2.62 bp	6.7 bp −$7	14.9 bp −$149	45.0 bp −$4,501	doesn't fit
Sell SunX live order book, 22 min ago	20.78 bp	28.0 bp −$28	doesn't fit	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	0.2480	−0.130%	$204K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2484	+0.044%	$189K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2480	−0.101%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.479%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2481	−0.077%	$420K	$7.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0091%	1h	0.2481	−0.062%	$6.3M	$12.5M	50x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2483	long leg	$2.5M	$1.1M	10x
Aster ADAUSDT	+0.0100%	8h	0.2481	−0.075%	$1.2M	$990K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2482	−0.036%	$161K	$160K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2481	−0.093%	$105.1M	$371.1M	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	0.2480	−0.117%	$72.4M	$108.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2480	−0.117%	$33.3M	$106.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2479	−0.157%	$99.2M	$59.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2480	−0.117%	$62.0M	$61.3M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2482	−0.024%	$30.0M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2480	−0.117%	$66.8M	$49.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2481	−0.077%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2481	−0.077%	$133K	$442K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2481	−0.074%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2473	−0.408%	$66K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2473	−0.398%	$290K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2471	−0.479%	$228K	$748K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2482	−0.044%	$95K	$690K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2482	−0.036%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2483	−0.003%	$40K	$2K	5x	as long as short
SunX ADA-USDTshort	+0.0100%	8h	0.2483	+0.003%	$9K	$730K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2481	−0.072%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2480	−0.102%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2479	−0.157%	$48.4M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2482	−0.044%	$537K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0112%	8h	0.2481	−0.061%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0195%	1h	0.2472	−0.447%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2482	−0.036%	$4.6M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0252%	1h	0.2483	−0.012%	$43.8M	$15.2M	10x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2482	−0.036%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0596%	1h	0.2483	+0.012%	$602K	$488K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0596% / S −0.0547%	1h	0.2480	−0.107%	$134K	—	100x	as long as short