ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0001%/8h= −0.1% APRnext payment −$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: Kraken Futures against Lighter−0.189%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 3 days (all we have)+0.443%+$44 · spread now −0.189%, 7d avg −0.008%

Together, before fees+0.550%+ Points / potential airdropLighter: Season 3 · farm board+$55 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: Kraken Futures is 0.181% cheaper against Lighter than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2464	0.0096	pay 0.0012% / 1h	45m 40s	$2.4M	$1.3M	10x
Short	Kraken Futures PF_ADAUSD	0.2460	0.0095	get 0.0012% / 1h	45m 40s	$6.2M	$11.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Lighter. 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 LighterbpFee Kraken FuturesbpOrdersPrice spread, now −0.189%Rate

Funding earned: −$0.29
Price spread: −0.189% → −0.008%: −$18.09
Slippage, 4 orders: −$28.26
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$56.64
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Kraken Futures: live order book, 3 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, 6 min ago	2.04 bp	4.8 bp −$5	13.8 bp −$138	47.1 bp −$4,705	doesn't fit
Sell Kraken Futures live order book, 3 min ago	2.04 bp	12.3 bp −$12	14.6 bp −$146	42.0 bp −$4,196	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	0.2461	−0.141%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2458	−0.252%	$156K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2458	−0.268%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2456	−0.333%	$420K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0095%	1h	0.2460	−0.189%	$6.2M	$11.4M	50x
Lighter ADAlong	+0.0096%	1h	0.2464	long leg	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2463	−0.058%	$42.7M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2461	−0.122%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2463	−0.041%	$158K	$147K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2464	−0.008%	$101.9M	$355.4M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2463	−0.049%	$71.3M	$99.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2464	−0.008%	$31.9M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2461	−0.130%	$97.0M	$57.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2463	−0.049%	$53.1M	$50.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2463	−0.057%	$30.4M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2463	−0.049%	$65.9M	$42.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2461	−0.130%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2460	−0.166%	$102K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2451	−0.524%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.461%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.536%	$296K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	−0.414%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2458	−0.260%	$97K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2459	−0.211%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2459	−0.203%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	−0.211%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2459	−0.195%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2458	−0.265%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2458	−0.252%	$48.0M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2463	−0.031%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2461	−0.127%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2455	−0.386%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	−0.333%	$4.4M	$5.4M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0238%	1h	0.2460	−0.166%	$478K	$350K	50x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2458	−0.242%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−0.779%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2458	−0.268%	$122K	—	100x	as long as short