Funding you earn now, next payment 07:00 UTC−0.0146%/8h= −16.0% APRnext payment −$0.18 per $10,000 · paid last 24h −0.056%
Price spread now: Lighter against Reya−0.025%105s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropReya: Active · Lighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.025% cheaper against Reya than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya ADARUSDPERP | 0.2453 | 0.0274 | pay 0.0034% / 1h | 24m 42s | $1K | — | 15x |
| Short | Lighter ADA | 0.2452 | 0.0128 | get 0.0016% / 1h | 24m 42s | $2.4M | $1.0M | 10x |
Reya ADARUSDPERP
Lighter ADAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Reya. 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
- −$30.73
- Price spread: −0.025% → 0.000%
- −$2.53
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$39.26
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Lighter: live order book, 12 min ago. Net counts fees only.
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 Reya no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 12 min ago | 3.49 bp | 3.6 bp −$4 | 12.9 bp −$129 | 44.6 bp −$4,462 | doesn't fit |
Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 0.2452 | −0.021% | $197K | $7.6M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2451 | −0.044% | $84K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +0.753% | $849 | $202K | 12x | as long as short |
| dYdX ADA-USD | +0.0052% | 1h | 0.2451 | −0.079% | $202K | $2K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2453 | +0.020% | $6K | $5K | 20x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2451 | −0.050% | $1.2M | $1.1M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2451 | −0.077% | $157K | $178K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2451 | −0.082% | $103.1M | $408.5M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2450 | −0.103% | $72.8M | $124.7M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2451 | −0.062% | $32.6M | $118.0M | 50x | as long as short |
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
dYdX ADA-USD
Orderly PERP_ADA_USDC
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 | 0.2449 | −0.144% | $100.3M | $64.5M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2449 | −0.144% | $53.5M | $65.0M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2450 | −0.095% | $29.5M | $15.9M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2450 | −0.103% | $66.7M | $53.6M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2450 | −0.103% | — | $6.6M | — | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2451 | −0.059% | $4.2M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2444 | −0.332% | $65K | $286K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2439 | −0.548% | $291K | $3.9M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2447 | −0.225% | $80K | $892K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2455 | +0.081% | $134K | $1.3M | 10x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2436 | −0.661% | $39K | $4K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2455 | +0.102% | $8K | $760K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2452 | −0.001% | $337 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2455 | +0.100% | $1.3M | $7.0M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2451 | −0.062% | $47.5M | $7.5M | 50x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2450 | −0.106% | $514K | $1.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0107% | 8h | 0.2451 | −0.056% | $21K | $250 | 20x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0120% | 1h | 0.2453 | +0.020% | $382K | $8.5M | 50x | as long as short |
| Lighter ADAshort | +0.0128% | 1h | 0.2452 | −0.025% | $2.4M | $1.0M | 10x | |
| Phoenix ADA | +0.0163% | 1h | 0.2450 | −0.086% | $4K | $111K | 10x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0170% | 1h | 0.2452 | −0.016% | $6.3M | $13.9M | 50x | as long as short |
| Backpack ADA_USDC_PERP | +0.0181% | 1h | 0.2452 | −0.038% | $140K | $484K | 15x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2453 | +0.020% | $4.5M | $5.9M | 75x | as long as short |
| Reya ADARUSDPERPlong | +0.0274% | 1h | 0.2453 | long leg | $1K | — | 15x | |
| Hyperliquid ADA | +0.0298% | 1h | 0.2452 | −0.001% | $43.1M | $18.1M | 10x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0525% | 1h | 0.2454 | +0.073% | $627K | $616K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0631% / S −0.0728% | 1h | 0.2443 | −0.377% | $164K | — | 100x | as long as short |
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Extended ADA-USD
Paradex ADA-USD-PERP
Coinbase International ADA-PERP-INTX
Phoenix ADA
Kraken Futures PF_ADAUSD
Backpack ADA_USDC_PERP
BloFin ADA-USDT
Hyperliquid ADA
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]