Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: HTX against Lighter+0.077%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Lighter Short on HTX

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)+0.096%+$10 · spread now +0.077%, 7d avg −0.004%

Together, before fees+0.285%+ Points / potential airdropLighter: Season 3 · farm board+$29 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: HTX is 0.081% dearer against Lighter than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ADA	0.2458	0.0096	pay 0.0012% / 1h	47m 05s	$2.4M	$1.3M	10x
Short	HTX ADA-USDT	0.2459	0.0100	get 0.0100% / 8h	1h 47m	$1.3M	$5.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.077%Rate

Funding earned: $0.84
Price spread: +0.077% → −0.004%: $8.05
Slippage, 4 orders: −$22.35
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$25.45
Costs to cover: 0.343%
Break-even: 219.1 days

Slippage from Lighter: live order book, 5 min ago; HTX: 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, 5 min ago	2.04 bp	4.8 bp −$5	13.8 bp −$138	47.1 bp −$4,705	doesn't fit
Sell HTX live order book, 2 min ago	1.53 bp	11.5 bp −$11	23.1 bp −$231	54.2 bp −$5,422	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	0.2458	+0.027%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2459	+0.057%	$156K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2457	−0.041%	$84K	—	150x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0035%	1h	0.2457	−0.004%	$477K	$350K	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2457	−0.024%	$420K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2456	−0.074%	$6.2M	$11.4M	50x	as long as short
Lighter ADAlong	+0.0096%	1h	0.2458	long leg	$2.4M	$1.3M	10x
Hyperliquid ADA	+0.0100%	1h	0.2457	−0.004%	$42.6M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2457	−0.014%	$1.2M	$999K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2460	+0.106%	$157K	$147K	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	0.2457	−0.036%	$101.7M	$355.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2456	−0.065%	$71.1M	$99.7M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	−0.024%	$31.8M	$105.1M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2456	−0.065%	$96.8M	$57.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	−0.065%	$52.9M	$50.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2457	−0.045%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2456	−0.065%	$65.7M	$42.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2457	−0.024%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2457	−0.028%	$102K	$414K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2451	−0.257%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.194%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.269%	$296K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2454	−0.146%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	+0.106%	$97K	$625K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2457	−0.024%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2457	−0.009%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2458	+0.016%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	−0.045%	$338	$13K	10x	as long as short
HTX ADA-USDTshort	+0.0100%	8h	0.2459	+0.077%	$1.3M	$5.1M	75x
Phemex ADAUSDT	+0.0100%	8h	0.2456	−0.065%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2461	+0.123%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2456	−0.060%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2455	−0.118%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	−0.065%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2459	+0.067%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−0.513%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2456	−0.055%	$122K	—	100x	as long as short