Funding you earn now, next payment 09:00 UTC+0.0432%/8h= +47.3% APRnext payment +$0.54 per $10,000 · paid last 24h +0.099%
Price spread now: Deribit against Lighter+0.008%7-day average +0.005% · you sell dearer than you buy
Net, funding: paid 7d − costs−$6as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$250.255% of the position
Funding, last 7 days+0.197%+$20 on $10k
+Price spread, last 4 days (all we have)+0.280%+$28 · spread now +0.008%, 7d avg +0.005%
=Together, before fees+0.477%+ Points / potential airdropLighter: Season 3 · farm board+$48 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.197% in total (about 10.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ADA | 0.2444 | 0.0096 | pay 0.0012% / 1h | 26m 37s | $2.4M | $1.1M | 10x |
| Short | Deribit ADA_USDC-PERPETUAL | 0.2445 | 0.0528 | get 0.0066% / 1h | 26m 37s | $634K | $737K | 50x |
Lighter ADA
Deribit ADA_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $90.72
- Price spread: +0.008% → +0.005%
- $0.32
- Slippage, 4 orders
- −$18.49
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $65.55
- Costs to cover
- 0.255%
- Break-even
- 1.9 days
Slippage from Lighter: live order book, 5 min ago; Deribit: live order book, 7 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, 5 min ago | 3.68 bp | 4.6 bp −$5 | 13.6 bp −$136 | 42.7 bp −$4,267 | doesn't fit |
| Sell Deribit live order book, 7 min ago | 3.27 bp | 7.2 bp −$7 | 13.3 bp −$133 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2445 | +0.025% | $190K | $7.8M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2437 | −0.286% | $83K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +1.088% | $849 | $202K | 12x | as long as short |
| Lighter ADAlong | +0.0096% | 1h | 0.2444 | long leg | $2.4M | $1.1M | 10x | |
| Hyperliquid ADA | +0.0100% | 1h | 0.2445 | +0.024% | $42.9M | $18.6M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2443 | −0.043% | $1.2M | $1.2M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2444 | −0.033% | $157K | $181K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2444 | −0.004% | $103.3M | $406.3M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2442 | −0.098% | $72.6M | $126.8M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2443 | −0.057% | $32.5M | $117.8M | 50x | as long as short |
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Hyperliquid ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAPShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ADA_USDT | +0.0100% | 8h | 0.2442 | −0.098% | $99.9M | $62.2M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2443 | −0.057% | $58.2M | $68.1M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2443 | −0.070% | $29.4M | $15.8M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2442 | −0.098% | $66.2M | $53.8M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2442 | −0.098% | — | $20.3M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2445 | +0.041% | $136K | $483K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2441 | −0.135% | $4.1M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2442 | −0.111% | $65K | $289K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2442 | −0.093% | $289K | $3.7M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2442 | −0.098% | $74K | $895K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2442 | −0.119% | $116K | $1.4M | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2442 | −0.098% | $6K | $5K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2438 | −0.247% | $40K | $4K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2444 | −0.020% | $8K | $751K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2445 | +0.025% | $336 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2447 | +0.089% | $1.3M | $7.2M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2444 | −0.016% | $47.2M | $7.6M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0104% | 8h | 0.2443 | −0.055% | $20K | — | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2440 | −0.168% | $541K | $1.8M | 50x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0152% | 1h | 0.2444 | −0.016% | $365K | $8.4M | 50x | as long as short |
| Phoenix ADA | +0.0163% | 1h | 0.2440 | −0.200% | $2K | $113K | 10x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0200% | 1h | 0.2445 | +0.014% | $6.3M | $14.0M | 50x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2445 | +0.025% | $4.5M | $5.7M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0272% | 1h | 0.2441 | −0.159% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0368% / S −0.0295% | 1h | 0.2443 | −0.064% | $87K | — | 100x | as long as short |
| Deribit ADA_USDC-PERPETUALshort | +0.0528% | 1h | 0.2445 | +0.008% | $634K | $737K | 50x | |
| dYdX ADA-USD | +0.0826% | 1h | 0.2443 | −0.062% | $204K | $5K | 10x | as long as short |
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
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
Coinbase International ADA-PERP-INTX
Phoenix ADA
Kraken Futures PF_ADAUSD
BloFin ADA-USDT
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]
dYdX ADA-USD