ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0016%/8h= +1.8% APRnext payment +$0.02 per $10,000 · paid last 24h +0.008%

Price spread now: Lighter against Coinbase International+0.101%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.184%−$18 · spread now +0.101%, 7d avg +0.046%

Together, before fees−0.190%+ Points / potential airdropLighter: Season 3 · farm board−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter is 0.055% dearer against Coinbase International than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2471	0.0080	pay 0.0010% / 1h	24m 30s	$425K	$7.7M	50x
Short	Lighter ADA	0.2473	0.0096	get 0.0012% / 1h	24m 30s	$2.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.101%Rate

Funding earned: $3.36
Price spread: +0.101% → +0.046%: $5.52
Slippage, 4 orders: −$21.98
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23.1
Costs to cover: 0.320%
Break-even: 55.1 days

Slippage from Coinbase International: live order book, 5 min ago; Lighter: 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 Coinbase International live order book, 5 min ago	4.04 bp	11.7 bp −$12	17.8 bp −$178	67.2 bp −$6,719	doesn't fit
Sell Lighter live order book, 2 min ago	3.03 bp	6.4 bp −$6	14.0 bp −$140	45.3 bp −$4,526	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	0.2472	+0.021%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2472	+0.040%	$149K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2471	+0.014%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	0.000%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0080%	1h	0.2471	long leg	$425K	$7.7M	50x
Kraken Futures PF_ADAUSD	+0.0091%	1h	0.2474	+0.103%	$6.3M	$12.7M	50x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2473	+0.101%	$2.4M	$1.1M	10x
Aster ADAUSDT	+0.0100%	8h	0.2472	+0.055%	$1.2M	$985K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2472	+0.026%	$161K	$160K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2473	+0.095%	$104.9M	$370.1M	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	0.2472	+0.040%	$72.1M	$108.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2473	+0.081%	$33.0M	$105.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2470	−0.040%	$98.6M	$59.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2472	+0.040%	$60.2M	$60.6M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2470	−0.020%	$29.9M	$15.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2472	+0.040%	$66.6M	$49.4M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2472	+0.040%	—	$20.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2472	+0.024%	$125K	$442K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2470	−0.039%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2475	+0.178%	$66K	$283K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2475	+0.163%	$290K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2473	+0.081%	$228K	$744K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2474	+0.125%	$95K	$688K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2473	+0.081%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2474	+0.132%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2475	+0.162%	$9K	$729K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2475	+0.142%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2473	+0.097%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2472	+0.040%	$48.2M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2471	+0.014%	$537K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0110%	8h	0.2474	+0.109%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0191%	1h	0.2475	+0.158%	$43.0M	$14.7M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2482	+0.425%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2473	+0.081%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2473	+0.100%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0596% / S −0.0547%	1h	0.2471	+0.004%	$133K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0599%	1h	0.2475	+0.162%	$600K	$488K	50x	as long as short