Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0066%/8h= +7.3% APRpaid last 24h +0.001%

Price spread now: Lighter against Paradex−0.172%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Lighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.172% cheaper against Paradex than usual: you would sell low and buy high (spread −0.172% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 8.6 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ADA-USD-PERP	0.2476	0.0110	pay 0.0110% / 8h	5h 40m	$21K	$250	20x
Short	Lighter ADA	0.2472	0.0176	get 0.0022% / 1h	40m 26s	$2.5M	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Paradex. 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 ParadexbpFee LighterbpOrdersPrice spread, now −0.172%Rate

Funding earned: $13.96
Price spread: −0.172% → 0.000%: −$17.16
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.2
Costs to cover: 0.040%
Break-even: 10.6 days

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 7 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Lighter live order book, 7 min ago	2.24 bp	7.7 bp −$8	19.6 bp −$196	49.5 bp −$4,949	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2469	−0.293%	$203K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2467	−0.347%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.200%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2466	−0.402%	$418K	$7.5M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2476	−0.012%	$43.0M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2471	−0.203%	$1.2M	$987K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2470	−0.231%	$159K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2476	+0.002%	$104.0M	$369.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2475	−0.038%	$72.9M	$108.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2474	−0.079%	$33.0M	$106.1M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2474	−0.079%	$99.1M	$58.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2474	−0.079%	$51.8M	$56.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2469	−0.273%	$29.9M	$16.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2473	−0.119%	$66.3M	$48.1M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2475	−0.038%	—	$20.2M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2468	−0.317%	$122K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2468	−0.320%	$4.3M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2463	−0.506%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2464	−0.492%	$299K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2463	−0.523%	$227K	$730K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2475	−0.034%	$95K	$675K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2466	−0.402%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2469	−0.298%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2467	−0.362%	$9K	$746K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2467	−0.382%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2468	−0.305%	$1.3M	$6.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2467	−0.361%	$48.0M	$6.3M	50x	as long as short
Kalshi KXADAPERP	+0.0104%	8h	0.2464	−0.483%	$159K	$6.2M	3.2x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2475	−0.047%	$537K	$1.8M	50x	as long as short
Paradex ADA-USD-PERPlong	+0.0110%	8h	0.2476	long leg	$21K	$250	20x
Phoenix ADA	+0.0163%	1h	0.2469	−0.293%	$4K	$90K	10x	as long as short
Lighter ADAshort	+0.0176%	1h	0.2472	−0.172%	$2.5M	$1.0M	10x
BloFin ADA-USDT	+0.0220%	8h	0.2466	−0.402%	$4.5M	$5.8M	75x	as long as short
Kraken Futures PF_ADAUSD	+0.0260%	1h	0.2466	−0.392%	$6.3M	$12.4M	50x	as long as short
Reya ADARUSDPERP	+0.0280%	1h	0.2473	−0.120%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0417% / S −0.0202%	1h	0.2468	−0.332%	$96K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0440%	1h	0.2466	−0.386%	$543K	$457K	50x	as long as short