Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Lighter−0.020%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.139%+$14 on $10k

Price spread, last 7 days+0.104%+$10 · spread now −0.020%, 7d avg +0.023%

Together, before fees+0.244%+ Points / potential airdropLighter: Season 3 · farm board+$24 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: BingX is 0.044% cheaper against Lighter than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2455	0.0096	pay 0.0012% / 1h	41m 38s	$2.4M	$1.1M	10x
Short	BingX ADA-USDC	0.2455	0.0100	get 0.0100% / 8h	4h 41m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0.84
Price spread: −0.020% → +0.023%: −$4.36
Slippage, 4 orders: −$30.86
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$44.37
Costs to cover: 0.409%
Break-even: 376.8 days

Slippage from Lighter: live order book, 10 min ago; BingX: live order book, 10 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 Lighter live order book, 10 min ago	3.06 bp	6.9 bp −$7	14.5 bp −$145	45.3 bp −$4,528	doesn't fit
Sell BingX live order book, 10 min ago	4.08 bp	13.1 bp −$13	23.8 bp −$238	81.3 bp −$8,125	581.8 bp −$290.9K

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	0.2454	−0.079%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2450	−0.224%	$160K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2449	−0.250%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.631%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2453	−0.102%	$432K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2450	−0.238%	$6.3M	$12.8M	50x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2455	long leg	$2.4M	$1.1M	10x
Aster ADAUSDT	+0.0100%	8h	0.2454	−0.046%	$1.2M	$983K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	−0.025%	$159K	$162K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2455	−0.025%	$103.8M	$372.7M	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	0.2454	−0.061%	$71.6M	$111.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2455	−0.020%	$32.7M	$105.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2453	−0.102%	$98.0M	$59.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2454	−0.061%	$61.2M	$60.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	−0.061%	$29.6M	$15.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2454	−0.061%	$65.9M	$50.2M	75x	as long as short
BingX ADA-USDCshort	+0.0100%	8h	0.2455	−0.020%	—	$6.5M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2452	−0.147%	$124K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2446	−0.385%	$4.2M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.109%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2448	−0.305%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	−0.346%	$226K	$743K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	−0.029%	$94K	$687K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2450	−0.224%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2451	−0.203%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2451	−0.182%	$8K	$740K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	−0.204%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	−0.198%	$1.3M	$6.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2450	−0.224%	$47.7M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2454	−0.046%	$531K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0107%	8h	0.2455	−0.004%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0131%	1h	0.2455	−0.016%	$42.6M	$14.9M	10x	as long as short
Phoenix ADA	+0.0195%	1h	0.2454	−0.045%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2450	−0.224%	$4.5M	$5.7M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2453	−0.082%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0485%	1h	0.2452	−0.163%	$593K	$494K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0592% / S −0.0547%	1h	0.2449	−0.251%	$132K	—	100x	as long as short