Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.002%

Price spread now: Lighter against Gate+0.147%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 7 days−0.149%−$15 · spread now +0.147%, 7d avg +0.002%

Together, before fees−0.267%+ Points / potential airdropLighter: Season 3 · farm board−$27 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 0.145% dearer against Gate than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ADA_USDT	0.2450	0.0100	pay 0.0100% / 8h	2h 10m	$96.8M	$58.2M	75x
Short	Lighter ADA	0.2454	0.0096	get 0.0012% / 1h	10m 40s	$2.4M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.147%Rate

Funding earned: −$0.84
Price spread: +0.147% → +0.002%: $14.49
Slippage, 4 orders: −$18.1
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$19.45
Costs to cover: 0.331%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Lighter: live order book, 6 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 Gate live order book, 3 min ago	2.04 bp	13.1 bp −$13	17.6 bp −$176	89.6 bp −$8,959	doesn't fit
Sell Lighter live order book, 6 min ago	2.24 bp	3.4 bp −$3	15.1 bp −$151	47.2 bp −$4,723	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	0.2451	+0.036%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2449	−0.041%	$153K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2450	−0.011%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2454	+0.163%	$407K	$7.2M	50x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2454	+0.147%	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2452	+0.102%	$42.5M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2452	+0.075%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2452	+0.082%	$157K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2453	+0.113%	$101.7M	$355.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2451	+0.041%	$70.5M	$100.0M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2453	+0.122%	$31.8M	$105.3M	50x	as long as short
Gate ADA_USDTlong	+0.0100%	8h	0.2450	long leg	$96.8M	$58.2M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2452	+0.082%	$52.8M	$56.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2452	+0.073%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2451	+0.041%	$65.6M	$42.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2452	+0.082%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2452	+0.086%	$101K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	+0.179%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2454	+0.182%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2450	0.000%	$296K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	+0.122%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2450	−0.004%	$96K	$623K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2449	−0.041%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	−0.081%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2451	+0.040%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	+0.012%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2449	−0.039%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2450	0.000%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2453	+0.110%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2452	+0.090%	$556K	$1.8M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0117%	1h	0.2451	+0.037%	$476K	$353K	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2452	+0.094%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2451	+0.041%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2450	+0.012%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2450	+0.003%	$6.2M	$11.4M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0504% / S −0.0263%	1h	0.2450	−0.018%	$110K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2440	−0.408%	$838	$131K	12x	as long as short