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: Lighter against SunX+0.036%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$610.613% of the position

Long on SunX Short on Lighter

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)−0.169%−$17 · spread now +0.036%, 7d avg −0.013%

Together, before fees−0.352%+ Points / potential airdropLighter: Season 3 · farm board−$35 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: Lighter is 0.049% dearer against SunX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ADA-USDT	0.2481	0.0100	pay 0.0100% / 8h	4h 30m	$8K	$732K	30x
Short	Lighter ADA	0.2482	0.0096	get 0.0012% / 1h	30m 19s	$2.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$0.84
Price spread: +0.036% → −0.013%: $4.88
Slippage, 4 orders: −$53.25
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$57.21
Costs to cover: 0.613%
Break-even: never at this rate

Slippage from SunX: live order book, 62 min ago; Lighter: live order book, 12 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 SunX live order book, 62 min ago	20.77 bp	24.8 bp −$25	31.6 bp −$316	doesn't fit	doesn't fit
Sell Lighter live order book, 12 min ago	2.44 bp	5.4 bp −$5	20.7 bp −$207	56.8 bp −$5,684	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	−0.058%	$204K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2480	−0.040%	$150K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2478	−0.106%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.403%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2480	−0.040%	$429K	$7.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0091%	1h	0.2482	+0.049%	$6.3M	$12.8M	50x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2482	+0.036%	$2.4M	$1.1M	10x
Aster ADAUSDT	+0.0100%	8h	0.2481	+0.005%	$1.2M	$985K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2481	−0.002%	$161K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2481	−0.017%	$105.1M	$370.0M	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	−0.040%	$72.3M	$108.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2483	+0.081%	$33.1M	$105.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2479	−0.081%	$99.0M	$59.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2479	−0.081%	$61.5M	$60.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2480	−0.048%	$29.9M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2481	0.000%	$66.7M	$49.3M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2479	−0.081%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2480	−0.044%	$125K	$441K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2475	−0.239%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	−1.005%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2456	−0.988%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2466	−0.605%	$227K	$743K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2480	−0.056%	$95K	$688K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2481	0.000%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2482	+0.048%	$40K	$2K	5x	as long as short
SunX ADA-USDTlong	+0.0100%	8h	0.2481	long leg	$8K	$732K	30x
SoDEX ADA-USD	+0.0100%	1h	0.2482	+0.060%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2477	−0.151%	$1.3M	$6.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2478	−0.121%	$48.3M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2481	+0.014%	$536K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0109%	8h	0.2483	+0.079%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0185%	1h	0.2481	+0.004%	$43.1M	$14.8M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2463	−0.734%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2480	−0.040%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2479	−0.081%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0596% / S −0.0547%	1h	0.2479	−0.086%	$134K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0717%	1h	0.2483	+0.101%	$603K	$489K	50x	as long as short