Funding you earn now, next payment 01:00 UTC−0.0182%/8h= −19.9% APRnext payment −$0.23 per $10,000 · paid last 24h −0.004%
Price spread now: Lighter against Deribit+0.049%7-day average −0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$290.290% of the position
Funding, last 7 days−0.106%−$11 on $10k
+Price spread, last 3 days (all we have)−0.200%−$20 · spread now +0.049%, 7d avg −0.016%
=Together, before fees−0.306%+ Points / potential airdropLighter: Season 3 · farm board−$31 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.065% dearer against Deribit than usual: you sell high and buy low (spread +0.049% now, against its 7-day average of −0.016%): +$7 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−0.106% in total) that is about 4.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ADA_USDC-PERPETUAL | 0.2464 | 0.0278 | pay 0.0035% / 1h | 34m 05s | $495K | $435K | 50x |
| Short | Lighter ADA | 0.2465 | 0.0096 | get 0.0012% / 1h | 34m 05s | $2.5M | $1.1M | 10x |
Deribit ADA_USDC-PERPETUAL
Lighter ADAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Deribit. 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
- −$38.22
- Price spread: +0.049% → −0.016%
- $6.52
- Slippage, 4 orders
- −$22
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$60.7
- Costs to cover
- 0.290%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 40 min ago; Lighter: 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 Deribit live order book, 40 min ago | 2.46 bp | 10.0 bp −$10 | 16.0 bp −$160 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 2.43 bp | 9.7 bp −$10 | 24.9 bp −$249 | 63.2 bp −$6,322 | 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 | 0.2463 | −0.044% | $203K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2463 | −0.049% | $190K | $6.1M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2465 | +0.014% | $85K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +0.276% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0040% | 1h | 0.2463 | −0.049% | $423K | $7.3M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0047% | 1h | 0.2463 | −0.042% | $6.2M | $11.7M | 50x | as long as short |
| Lighter ADAshort | +0.0096% | 1h | 0.2465 | +0.049% | $2.5M | $1.1M | 10x | |
| Phoenix ADA | +0.0098% | 1h | 0.2454 | −0.422% | $4K | $84K | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2465 | +0.042% | $1.2M | $946K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2465 | +0.037% | $158K | $145K | 10x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTX
Kraken Futures PF_ADAUSD
Phoenix ADA
Aster ADAUSDT
Pacifica ADAShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ADAUSDT | +0.0100% | 8h | 0.2463 | −0.049% | $102.1M | $365.2M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2463 | −0.049% | $72.2M | $104.0M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2463 | −0.049% | $32.5M | $107.0M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2463 | −0.049% | $97.8M | $58.6M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2464 | −0.008% | $52.9M | $51.0M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2464 | −0.020% | $30.2M | $17.8M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2464 | −0.008% | $66.2M | $44.0M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2463 | −0.049% | — | $20.4M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2465 | +0.012% | $118K | $408K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2460 | −0.166% | $4.2M | $942K | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2452 | −0.480% | $65K | $281K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2453 | −0.455% | $296K | $3.7M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2456 | −0.333% | $56K | $583K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2465 | +0.028% | $94K | $645K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2464 | −0.008% | $6K | $29K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2465 | +0.048% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2465 | +0.032% | $9K | $764K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2464 | −0.028% | $339 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2466 | +0.069% | $1.3M | $5.5M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2463 | −0.049% | $48.1M | $5.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0101% | 8h | 0.2465 | +0.021% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2464 | −0.028% | $554K | $1.8M | 50x | as long as short |
| Hyperliquid ADA | +0.0118% | 1h | 0.2465 | +0.041% | $42.9M | $14.4M | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2458 | −0.252% | $4.4M | $5.5M | 75x | as long as short |
| Deribit ADA_USDC-PERPETUALlong | +0.0278% | 1h | 0.2464 | long leg | $495K | $435K | 50x | |
| Reya ADARUSDPERP | +0.0283% | 1h | 0.2465 | +0.034% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0626% / S −0.0393% | 1h | 0.2464 | +0.003% | $142K | — | 100x | as long as short |
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAP
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
Hyperliquid ADA
BloFin ADA-USDT
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]