Funding you earn now, next payment 00:00 UTC−0.0072%/8h= −7.9% APRnext payment −$0.09 per $10,000 · paid last 24h −0.008%
Price spread now: Coinbase International against Lighter−0.174%7-day average −0.041% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$360.359% of the position
Funding, last 7 days+0.012%+$1 on $10k
+Price spread, last 3 days (all we have)+0.216%+$22 · spread now −0.174%, 7d avg −0.041%
=Together, before fees+0.227%+ Points / potential airdropLighter: Season 3 · farm board+$23 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.134% cheaper against Lighter than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.041%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ADA | 0.2468 | 0.0112 | pay 0.0014% / 1h | 30m 15s | $2.5M | $1.1M | 10x |
| Short | Coinbase International ADA-PERP-INTX | 0.2464 | 0.0040 | get 0.0005% / 1h | 30m 15s | $420K | $7.3M | 50x |
Lighter ADA
Coinbase International ADA-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter. 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
- −$15.12
- Price spread: −0.174% → −0.041%
- −$13.36
- Slippage, 4 orders
- −$25.87
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$64.35
- Costs to cover
- 0.359%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 2 min ago; Coinbase International: live order book, 4 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 Lighter live order book, 2 min ago | 2.43 bp | 3.7 bp −$4 | 10.5 bp −$105 | 39.4 bp −$3,943 | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 4.06 bp | 11.1 bp −$11 | 17.5 bp −$175 | 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 | 0.2467 | −0.046% | $203K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2468 | −0.012% | $184K | $6.1M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2465 | −0.113% | $85K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +0.109% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTXshort | +0.0040% | 1h | 0.2464 | −0.174% | $420K | $7.3M | 50x | |
| Kraken Futures PF_ADAUSD | +0.0047% | 1h | 0.2466 | −0.098% | $6.2M | $11.7M | 50x | as long as short |
| Phoenix ADA | +0.0098% | 1h | 0.2467 | −0.069% | $4K | $84K | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2468 | −0.010% | $1.2M | $946K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2469 | +0.010% | $159K | $145K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2466 | −0.079% | $102.8M | $365.4M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Kraken Futures PF_ADAUSD
Phoenix 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 | 0.2466 | −0.093% | $72.4M | $104.2M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2466 | −0.093% | $32.6M | $107.2M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2466 | −0.093% | $98.1M | $58.9M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2466 | −0.093% | $52.8M | $51.1M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2467 | −0.041% | $30.2M | $17.8M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2466 | −0.093% | $66.2M | $44.2M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2467 | −0.053% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2467 | −0.057% | $119K | $410K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2470 | +0.074% | $4.2M | $942K | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2461 | −0.291% | $65K | $282K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2462 | −0.259% | $288K | $3.7M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2466 | −0.093% | $56K | $583K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2465 | −0.113% | $94K | $645K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2466 | −0.093% | $6K | $29K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2466 | −0.079% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2469 | +0.027% | $9K | $765K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2467 | −0.073% | $339 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2466 | −0.087% | $1.3M | $5.5M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2465 | −0.134% | $48.1M | $5.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0103% | 8h | 0.2469 | +0.024% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2465 | −0.114% | $548K | $1.8M | 50x | as long as short |
| Lighter ADAlong | +0.0112% | 1h | 0.2468 | long leg | $2.5M | $1.1M | 10x | |
| Hyperliquid ADA | +0.0163% | 1h | 0.2469 | +0.012% | $43.1M | $14.5M | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2472 | +0.150% | $4.4M | $5.5M | 75x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0277% | 1h | 0.2467 | −0.069% | $496K | $434K | 50x | as long as short |
| Reya ADARUSDPERP | +0.0283% | 1h | 0.2466 | −0.112% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0626% / S −0.0393% | 1h | 0.2465 | −0.132% | $142K | — | 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
Hyperliquid ADA
BloFin ADA-USDT
Deribit ADA_USDC-PERPETUAL
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]