Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h 0.000%

Price spread now: Lighter against Variational Omni−0.284%7-day average −0.018% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.002%$0 on $10k

Price spread, last 7 days+0.242%+$24 · spread now −0.284%, 7d avg −0.018%

Together, before fees+0.240%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.266% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.284% now, against its 7-day average of −0.018%). If the spread goes back, that is −$27 on $10k: about 9.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ADA	0.2455	0.0100	pay 0.0100% / 8h	6h 08m	$4.2M	$992K	—
Short	Lighter ADA	0.2448	0.0192	get 0.0024% / 1h	8m 51s	$2.4M	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.284%Rate

Funding earned: $19.32
Price spread: −0.284% → −0.018%: −$26.64
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.32
Costs to cover: 0.000%
Break-even: 9.7 days

Slippage unknown: Variational Omni: RFQ quote, just now; Lighter: live order book, 3 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 Variational Omni RFQ quote, just now	8.18 bp	doesn't fit	12.3 bp −$123	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.03 bp	3.5 bp −$3	15.8 bp −$158	49.6 bp −$4,965	doesn't fit

ADA on 36 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	0.2445	−0.424%	$201K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	−0.395%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.649%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2447	−0.329%	$404K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	−0.321%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2447	−0.345%	$1.2M	$977K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	−0.312%	$157K	$159K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2449	−0.231%	$102.8M	$371.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2448	−0.288%	$72.1M	$108.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2450	−0.207%	$32.5M	$107.0M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2447	−0.329%	$97.9M	$60.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2448	−0.288%	$58.8M	$52.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2447	−0.349%	$29.8M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2447	−0.329%	$65.6M	$47.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2448	−0.288%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	−0.361%	$129K	$410K	15x	as long as short
Variational Omni ADAlong	+0.0100%	8h	0.2455	long leg	$4.2M	$992K	—
edgeX ADAUSDC	+0.0100%	4h	0.2456	+0.038%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2454	−0.025%	$297K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	−0.044%	$56K	$589K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2446	−0.357%	$93K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2446	−0.369%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2447	−0.327%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	−0.292%	$8K	$759K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.325%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2446	−0.360%	$1.3M	$5.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	−0.369%	$47.6M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2447	−0.313%	$532K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0107%	8h	0.2449	−0.247%	$163K	$6.3M	3.2x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2448	−0.282%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	+0.034%	$4K	$87K	10x	as long as short
Lighter ADAshort	+0.0192%	1h	0.2448	−0.284%	$2.4M	$1.0M	10x
Reya ADARUSDPERP	+0.0281%	1h	0.2446	−0.370%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0355%	1h	0.2446	−0.368%	$6.2M	$12.2M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0363%	1h	0.2447	−0.321%	$500K	$470K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0415% / S −0.0202%	1h	0.2445	−0.405%	$95K	—	100x	as long as short