Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bitget against Lighter−0.061%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

Price spread, last 7 days+0.094%+$9 · spread now −0.061%, 7d avg +0.009%

Together, before fees+0.226%+ Points / potential airdropLighter: Season 3 · farm board+$23 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: Bitget is 0.070% cheaper against Lighter than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.009%.

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	57m 16s	$2.4M	$1.0M	10x
Short	Bitget ADAUSDT	0.2453	0.0100	get 0.0100% / 8h	7h 57m	$65.9M	$43.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.061%Rate

Funding earned: $0.84
Price spread: −0.061% → +0.009%: −$6.97
Slippage, 4 orders: −$15.58
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$33.71
Costs to cover: 0.276%
Break-even: 287.9 days

Slippage from Lighter: live order book, 10 min ago; Bitget: 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 Lighter live order book, 10 min ago	1.63 bp	4.3 bp −$4	13.4 bp −$134	47.2 bp −$4,719	doesn't fit
Sell Bitget live order book, 2 min ago	2.04 bp	8.0 bp −$8	12.5 bp −$125	26.4 bp −$2,642	100.2 bp −$50.1K

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	0.2451	−0.163%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2455	+0.020%	$195K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2454	−0.037%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.672%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2447	−0.306%	$406K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2453	−0.065%	$6.2M	$11.6M	50x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2455	long leg	$2.4M	$1.0M	10x
Hyperliquid ADA	+0.0100%	1h	0.2454	−0.029%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2454	−0.003%	$1.2M	$934K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2451	−0.143%	$157K	$145K	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	0.2453	−0.056%	$101.5M	$366.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2452	−0.102%	$71.5M	$104.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2452	−0.102%	$32.4M	$107.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2453	−0.061%	$97.9M	$57.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	−0.061%	$53.5M	$50.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	−0.041%	$30.0M	$18.0M	75x	as long as short
Bitget ADAUSDTshort	+0.0100%	8h	0.2453	−0.061%	$65.9M	$43.9M	75x
BingX ADA-USDT	+0.0100%	8h	0.2453	−0.061%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2454	−0.029%	$108K	$420K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2450	−0.176%	$4.2M	$972K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2451	−0.138%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	−0.102%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	−0.061%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2451	−0.130%	$94K	$642K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2453	−0.061%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2454	−0.020%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2451	−0.143%	$9K	$768K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2453	−0.061%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2454	−0.034%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2453	−0.061%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2452	−0.118%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2453	−0.060%	$553K	$1.8M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2450	−0.171%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2457	+0.102%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2452	−0.099%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0361%	1h	0.2455	0.000%	$493K	$429K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2454	−0.016%	$122K	—	100x	as long as short