Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.004%

Price spread now: Gate against Lighter−0.074%7-day average −0.009% · 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−$46as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 7 days+0.195%+$20 · spread now −0.074%, 7d avg −0.009%

Together, before fees+0.311%+ Points / potential airdropLighter: Season 3 · farm board+$31 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: Gate is 0.065% cheaper against Lighter than usual: you would sell low and buy high, −$6 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	0.2444	0.0096	pay 0.0012% / 1h	15m 06s	$2.4M	$1.0M	10x
Short	Gate ADA_USDT	0.2442	0.0100	get 0.0100% / 8h	2h 15m	$99.0M	$65.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.074%Rate

Funding earned: $0.84
Price spread: −0.074% → −0.009%: −$6.45
Slippage, 4 orders: −$24.92
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$45.53
Costs to cover: 0.399%
Break-even: 386.4 days

Slippage from Lighter: live order book, 2 min ago; Gate: live order book, 4 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, 2 min ago	3.28 bp	7.7 bp −$8	15.3 bp −$153	47.3 bp −$4,733	doesn't fit
Sell Gate live order book, 4 min ago	2.05 bp	13.3 bp −$13	17.7 bp −$177	88.2 bp −$8,816	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
Kalshi KXADAPERP	0.0000%	8h	0.2443	−0.033%	$186K	$7.5M	3.2x	as long as short
dYdX ADA-USD	+0.0002%	1h	0.2444	−0.008%	$201K	$2K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2441	−0.099%	$83K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0020%	1h	0.2442	−0.066%	$6.3M	$13.7M	50x	as long as short
Phoenix ADA	+0.0032%	1h	0.2441	−0.098%	$4K	$105K	10x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.113%	$849	$202K	12x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2444	long leg	$2.4M	$1.0M	10x
Hyperliquid ADA	+0.0100%	1h	0.2445	+0.033%	$42.8M	$18.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2444	+0.004%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2444	+0.006%	$157K	$176K	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	0.2444	+0.021%	$102.9M	$408.2M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2443	−0.033%	$71.8M	$123.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2445	+0.049%	$32.4M	$117.7M	50x	as long as short
Gate ADA_USDTshort	+0.0100%	8h	0.2442	−0.074%	$99.0M	$65.1M	75x
MEXC ADA_USDT	+0.0100%	8h	0.2444	+0.008%	$52.5M	$65.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2442	−0.057%	$29.2M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2444	+0.008%	$66.4M	$53.1M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2443	−0.033%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2444	+0.008%	$127K	$477K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2440	−0.152%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2439	−0.177%	$65K	$287K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2438	−0.237%	$286K	$4.0M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2441	−0.115%	$84K	$888K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2442	−0.070%	$118K	$1.0M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2441	−0.115%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2442	−0.058%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2444	+0.006%	$8K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2442	−0.053%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2443	−0.046%	$1.3M	$6.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2442	−0.074%	$47.4M	$7.4M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2446	+0.071%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2442	−0.080%	$521K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0104%	1h	0.2442	−0.074%	$378K	$8.5M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2445	+0.049%	$4.4M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0275%	1h	0.2442	−0.093%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0569%	1h	0.2443	−0.020%	$608K	$597K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0728%	1h	0.2441	−0.121%	$164K	—	100x	as long as short