Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: Lighter against HTX+0.135%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 3 days (all we have)−0.244%−$24 · spread now +0.135%, 7d avg +0.005%

Together, before fees−0.432%+ Points / potential airdropLighter: Season 3 · farm board−$43 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 0.130% dearer against HTX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ADA-USDT	0.2455	0.0100	pay 0.0100% / 8h	6h 47m	$1.3M	$5.8M	75x
Short	Lighter ADA	0.2458	0.0096	get 0.0012% / 1h	47m 04s	$2.4M	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$0.84
Price spread: +0.135% → +0.005%: $12.96
Slippage, 4 orders: −$23.8
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23.68
Costs to cover: 0.358%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; Lighter: live order book, 5 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 HTX live order book, 2 min ago	2.03 bp	10.3 bp −$10	23.1 bp −$231	52.0 bp −$5,196	doesn't fit
Sell Lighter live order book, 5 min ago	2.65 bp	5.7 bp −$6	13.0 bp −$130	doesn't fit	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	0.2456	+0.034%	$202K	$4K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2457	+0.110%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.664%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2455	+0.013%	$411K	$7.4M	50x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2458	+0.135%	$2.4M	$1.0M	10x
Hyperliquid ADA	+0.0100%	1h	0.2457	+0.110%	$42.8M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2456	+0.051%	$1.2M	$969K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2457	+0.102%	$159K	$158K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2456	+0.073%	$102.3M	$375.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2455	+0.013%	$72.3M	$108.2M	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	0.2456	+0.053%	$32.6M	$108.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2455	+0.013%	$98.4M	$58.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	+0.053%	$50.4M	$50.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2456	+0.066%	$30.0M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2456	+0.053%	$65.6M	$46.6M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2456	+0.053%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2457	+0.090%	$126K	$422K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.186%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2457	+0.086%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2457	+0.103%	$296K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2458	+0.135%	$56K	$588K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2458	+0.147%	$93K	$656K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2456	+0.053%	$6K	$28K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2457	+0.083%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	+0.176%	$9K	$773K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2456	+0.037%	$338	$13K	10x	as long as short
HTX ADA-USDTlong	+0.0100%	8h	0.2455	long leg	$1.3M	$5.8M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2456	+0.053%	$47.8M	$6.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	−0.053%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2460	+0.227%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0105%	8h	0.2461	+0.257%	$195K	$6.2M	3.2x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	+0.114%	$4K	$87K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2459	+0.176%	$4.4M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2457	+0.095%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0321%	1h	0.2455	−0.008%	$499K	$470K	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2455	+0.025%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0389%	1h	0.2456	+0.062%	$140K	—	100x	as long as short