Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: edgeX against Lighter−0.184%109s7-day average −0.023% · 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—prices read too far apart to compare

costs, in and out, $10k−$330.325% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.189%+$19 on $10k

Price spread, last 3 days (all we have)+0.211%+$21 · spread now −0.184%, 7d avg −0.023%

Together, before fees+0.400%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$40 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: edgeX is 0.161% cheaper against Lighter than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.023%. The two prices were read 109 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	Lighter ADA	0.2440	0.0096	pay 0.0012% / 1h	21m 40s	$2.4M	$1.3M	10x
Short	edgeX ADAUSDC	0.2435	0.0100	get 0.0050% / 4h	21m 40s	$65K	$281K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.184%Rate

Funding earned: $0.84
Price spread: −0.184% → −0.023%: −$16.11
Slippage, 4 orders: −$23.55
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$47.82
Costs to cover: 0.325%
Break-even: 405.5 days

Slippage from Lighter: live order book, 5 min ago; edgeX: live order book, 56 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, 5 min ago	2.05 bp	6.1 bp −$6	14.7 bp −$147	52.4 bp −$5,235	doesn't fit
Sell edgeX live order book, 56 min ago	6.10 bp	10.6 bp −$11	28.6 bp −$286	doesn't fit	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	0.2439	−0.015%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2442	+0.094%	$186K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2441	+0.039%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2436	−0.152%	$402K	$7.3M	50x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2440	long leg	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2440	+0.029%	$42.3M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2441	+0.039%	$1.2M	$929K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2439	−0.010%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2439	−0.019%	$101.2M	$365.0M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2439	−0.029%	$70.9M	$103.8M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2440	+0.012%	$32.2M	$106.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2438	−0.070%	$96.8M	$60.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2439	−0.029%	$51.9M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2439	−0.025%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2439	−0.029%	$65.5M	$43.4M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2438	−0.070%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2442	+0.086%	$104K	$419K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2437	−0.102%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDCshort	+0.0100%	4h	0.2435	−0.184%	$65K	$281K	20x
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2439	−0.045%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2434	−0.234%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2441	+0.049%	$92K	$638K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2440	+0.012%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2441	+0.050%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2442	+0.093%	$9K	$766K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2441	+0.049%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2442	+0.075%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2440	+0.012%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2439	−0.029%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2438	−0.068%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2441	+0.052%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2440	0.000%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2436	−0.152%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.283%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2441	+0.037%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0563% / S −0.0313%	1h	0.2441	+0.034%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4742%	1h	0.2502	+2.545%	$503K	$430K	50x	as long as short