Funding you earn now, next payment 23:00 UTC−0.0034%/8h= −3.7% APRnext payment −$0.04 per $10,000 · paid last 24h +0.008%
Price spread now: Lighter against Phoenix−0.347%104s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.115%+$11 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.347% cheaper against Phoenix than usual: you would sell low and buy high (−$35 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.115%, so the current rate has only just turned against you. The two prices were read 104 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ADA | 0.2452 | 0.0130 | pay 0.0016% / 1h | 29m 45s | $4K | $78K | 10x |
| Short | Lighter ADA | 0.2444 | 0.0096 | get 0.0012% / 1h | 29m 45s | $2.4M | $1.3M | 10x |
Phoenix ADA
Lighter ADAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. 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
- −$7.12
- Price spread: −0.347% → 0.000%
- −$34.66
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$48.78
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 2 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 2 min ago | 1.84 bp | 4.1 bp −$4 | 13.2 bp −$132 | 43.8 bp −$4,384 | doesn't fit |
Phoenix: 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 | 0.2443 | −0.388% | $201K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2446 | −0.261% | $186K | $6.1M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2444 | −0.360% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2444 | −0.343% | $403K | $7.3M | 50x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0077% | 1h | 0.2444 | −0.334% | $491K | $430K | 50x | as long as short |
| Lighter ADAshort | +0.0096% | 1h | 0.2444 | −0.347% | $2.4M | $1.3M | 10x | |
| Hyperliquid ADA | +0.0100% | 1h | 0.2443 | −0.379% | $42.3M | $14.3M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2442 | −0.435% | $1.2M | $928K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2443 | −0.381% | $157K | $145K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2443 | −0.389% | $101.5M | $363.0M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Deribit ADA_USDC-PERPETUAL
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 | 0.2442 | −0.424% | $71.0M | $103.1M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2444 | −0.343% | $32.2M | $106.7M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2440 | −0.506% | $97.0M | $59.7M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2442 | −0.424% | $52.6M | $50.8M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2443 | −0.400% | $30.0M | $18.0M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2443 | −0.383% | $65.5M | $43.4M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2443 | −0.383% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2443 | −0.400% | $108K | $416K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2449 | −0.130% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2453 | +0.018% | $65K | $282K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2454 | +0.062% | $292K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2454 | +0.065% | $56K | $582K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2443 | −0.371% | $90K | $632K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2443 | −0.383% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2444 | −0.349% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2444 | −0.345% | $9K | $763K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2444 | −0.363% | $336 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2444 | −0.348% | $1.3M | $5.3M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2443 | −0.383% | $47.7M | $5.9M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2443 | −0.397% | $20K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2441 | −0.463% | $554K | $1.8M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0114% | 1h | 0.2443 | −0.394% | $6.1M | $11.7M | 50x | as long as short |
| Phoenix ADAlong | +0.0130% | 1h | 0.2452 | long leg | $4K | $78K | 10x | |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2448 | −0.179% | $4.4M | $5.5M | 75x | as long as short |
| Injective ADA/USDC PERP | +0.0254% | 1h | 0.2471 | +0.758% | $849 | $202K | 12x | as long as short |
| Reya ADARUSDPERP | +0.0284% | 1h | 0.2443 | −0.379% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0564% / S −0.0313% | 1h | 0.2443 | −0.374% | $121K | — | 100x | as long as short |
Bybit ADAUSDT
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
Kraken Futures PF_ADAUSD
BloFin ADA-USDT
Injective ADA/USDC PERP
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]