Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.001%

Price spread now: Lighter against edgeX−0.167%79s7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.332% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now −0.167%, 7d avg +0.021%

Together, before fees−0.123%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$12 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: Lighter is 0.188% cheaper against edgeX than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.021%. The two prices were read 79 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	edgeX ADAUSDC	0.2486	0.0100	pay 0.0050% / 4h	2h 18m	$66K	$290K	20x
Short	Lighter ADA	0.2482	0.0096	get 0.0012% / 1h	18m 02s	$2.4M	$959K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now −0.167%Rate

Funding earned: −$0.84
Price spread: −0.167% → +0.021%: −$18.79
Slippage, 4 orders: −$24.2
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$52.82
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from edgeX: live order book, 32 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 edgeX live order book, 32 min ago	8.07 bp	12.6 bp −$13	29.2 bp −$292	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	1.61 bp	3.7 bp −$4	10.0 bp −$100	40.0 bp −$3,998	doesn't fit

ADA on 36 exchanges

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	0.2479	−0.264%	$207K	$5K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2481	−0.199%	$210K	$7.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2478	−0.308%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.601%	$849	$202K	12x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2482	−0.167%	$2.4M	$959K	10x
Aster ADAUSDT	+0.0100%	8h	0.2481	−0.194%	$1.2M	$1.3M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2480	−0.249%	$159K	$157K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2482	−0.159%	$106.5M	$393.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2480	−0.239%	$74.3M	$124.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2480	−0.239%	$32.9M	$111.8M	50x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2480	−0.239%	$102.2M	$61.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2481	−0.199%	$49.6M	$71.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2481	−0.183%	$29.8M	$15.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2481	−0.199%	$67.9M	$51.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2482	−0.159%	—	$18.9M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2482	−0.171%	$140K	$460K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2482	−0.159%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDClong	+0.0100%	4h	0.2486	long leg	$66K	$290K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2485	−0.022%	$297K	$3.6M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2486	+0.002%	$72K	$899K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2482	−0.175%	$119K	$1.3M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2482	−0.159%	$6K	$4K	20x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2483	−0.120%	$8K	$700K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2482	−0.139%	$341	$6K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2482	−0.159%	$1.3M	$7.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2481	−0.199%	$47.9M	$7.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2480	−0.249%	$20K	$589	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2481	−0.189%	$547K	$1.7M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0144%	1h	0.2483	−0.119%	$411K	$8.5M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0147%	1h	0.2482	−0.151%	$6.3M	$13.6M	50x	as long as short
Phoenix ADA	+0.0192%	1h	0.2485	−0.038%	$3K	$107K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2481	−0.199%	$4.6M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0270%	1h	0.2481	−0.184%	$1K	—	15x	as long as short
Hyperliquid ADA	+0.0318%	1h	0.2483	−0.115%	$44.3M	$17.8M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0370% / S −0.0295%	1h	0.2479	−0.286%	$88K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0475%	1h	0.2483	−0.115%	$620K	$757K	50x	as long as short