Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: MEXC against Lighter−0.152%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$180.179% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 7 days+0.314%+$31 · spread now −0.152%, 7d avg +0.012%

Together, before fees+0.408%+ Points / potential airdropLighter: Season 3 · farm board+$41 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: MEXC is 0.164% cheaper against Lighter than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2442	0.0096	pay 0.0012% / 1h	37m 09s	$2.4M	$1.0M	10x
Short	MEXC ADA_USDT	0.2438	0.0100	get 0.0100% / 8h	37m 09s	$51.7M	$65.6M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.152%Rate

Funding earned: $0.84
Price spread: −0.152% → +0.012%: −$16.39
Slippage, 4 orders: −$17.85
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$33.4
Costs to cover: 0.179%
Break-even: 285.3 days

Slippage from Lighter: live order book, 5 min ago; MEXC: live order book, 2 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	2.65 bp	8.7 bp −$9	17.9 bp −$179	50.4 bp −$5,042	doesn't fit
Sell MEXC live order book, 2 min ago	2.04 bp	2.0 bp −$2	3.7 bp −$37	15.6 bp −$1,563	48.7 bp −$24.3K

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	0.2442	−0.008%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2440	−0.055%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.200%	$849	$202K	12x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2442	long leg	$2.4M	$1.0M	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2440	−0.070%	$6K	$5K	20x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2441	−0.014%	$42.9M	$18.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2442	−0.006%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2443	+0.055%	$156K	$178K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2442	+0.012%	$102.8M	$408.0M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2441	−0.029%	$72.2M	$126.0M	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	0.2443	+0.053%	$32.4M	$118.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2440	−0.070%	$99.7M	$65.1M	75x	as long as short
MEXC ADA_USDTshort	+0.0100%	8h	0.2438	−0.152%	$51.7M	$65.6M	300x
KuCoin ADAUSDTM	+0.0100%	8h	0.2439	−0.127%	$29.4M	$16.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2441	−0.029%	$66.4M	$54.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2442	+0.012%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2442	0.000%	$139K	$486K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	+0.546%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2448	+0.243%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2446	+0.159%	$286K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.627%	$78K	$894K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2441	−0.025%	$119K	$1.3M	10x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2445	+0.130%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2443	+0.052%	$8K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2440	−0.049%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2441	−0.041%	$1.3M	$7.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2440	−0.070%	$47.3M	$7.5M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2444	+0.087%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2440	−0.076%	$514K	$1.8M	50x	as long as short
Kalshi KXADAPERP	+0.0107%	8h	0.2441	−0.029%	$193K	$7.6M	3.2x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2441	−0.029%	$368K	$8.4M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2440	−0.070%	$4.4M	$5.8M	75x	as long as short
Phoenix ADA	+0.0228%	1h	0.2459	+0.696%	$4K	$112K	10x	as long as short
Reya ADARUSDPERP	+0.0273%	1h	0.2441	−0.029%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0281%	1h	0.2440	−0.082%	$6.3M	$14.0M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0488%	1h	0.2442	+0.004%	$622K	$614K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0601% / S −0.0679%	1h	0.2440	−0.076%	$155K	—	100x	as long as short