ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0177%/8h= −19.4% APRnext payment −$0.22 per $10,000 · paid last 24h −0.008%

Price spread now: Lighter against Hyperliquid−0.183%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$280.285% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 7 days+0.076%+$8 · spread now −0.183%, 7d avg −0.025%

Together, before fees+0.086%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter is 0.158% cheaper against Hyperliquid than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2465	0.0273	pay 0.0034% / 1h	9m 18s	$43.8M	$16.3M	10x
Short	Lighter ADA	0.2460	0.0096	get 0.0012% / 1h	9m 18s	$2.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hyperliquid. 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 HyperliquidbpFee LighterbpOrdersPrice spread, now −0.183%Rate

Funding earned: −$37.23
Price spread: −0.183% → −0.025%: −$15.76
Slippage, 4 orders: −$19.49
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$81.47
Costs to cover: 0.285%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago	0.20 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.63 bp	4.2 bp −$4	15.4 bp −$154	53.4 bp −$5,342	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	0.2468	+0.112%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2461	−0.154%	$140K	$6.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2459	−0.228%	$84K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0026%	1h	0.2458	−0.282%	$6.3M	$13.2M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.252%	$849	$202K	12x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0035%	1h	0.2459	−0.235%	$605K	$533K	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2462	−0.114%	$396K	$8.2M	50x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2460	−0.183%	$2.4M	$1.1M	10x
Aster ADAUSDT	+0.0100%	8h	0.2461	−0.136%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2468	+0.146%	$158K	$170K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ADAUSDT	+0.0100%	8h	0.2461	−0.136%	$103.9M	$391.0M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2460	−0.195%	$73.7M	$115.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2461	−0.154%	$32.8M	$111.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2459	−0.235%	$99.8M	$62.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2461	−0.154%	$59.0M	$62.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2460	−0.179%	$29.6M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2461	−0.154%	$67.0M	$51.5M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2461	−0.154%	—	$6.6M	—	as long as short
Variational Omni ADA	+0.0100%	8h	0.2466	+0.050%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2471	+0.268%	$66K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2472	+0.292%	$290K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2472	+0.292%	$228K	$756K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2464	−0.049%	$92K	$630K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2458	−0.276%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2459	−0.229%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2468	+0.127%	$8K	$747K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2459	−0.247%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2460	−0.196%	$1.3M	$6.7M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2461	−0.154%	$48.0M	$7.0M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2470	+0.196%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2458	−0.282%	$534K	$1.8M	50x	as long as short
Backpack ADA_USDC_PERP	+0.0138%	1h	0.2467	+0.093%	$124K	$470K	15x	as long as short
Phoenix ADA	+0.0161%	1h	0.2465	+0.012%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2460	−0.195%	$4.6M	$5.8M	75x	as long as short
Hyperliquid ADAlong	+0.0273%	1h	0.2465	long leg	$43.8M	$16.3M	10x
Reya ADARUSDPERP	+0.0277%	1h	0.2461	−0.135%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0585%	1h	0.2460	−0.212%	$140K	—	100x	as long as short