Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.001%

Price spread now: Lighter against OKX+0.115%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$230.235% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 7 days−0.212%−$21 · spread now +0.115%, 7d avg −0.013%

Together, before fees−0.322%+ Points / potential airdropLighter: Season 3 · farm board−$32 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: Lighter is 0.128% dearer against OKX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ADA-USDT-SWAP	0.2438	0.0100	pay 0.0100% / 8h	7h 29m	$32.5M	$117.6M	50x
Short	Lighter ADA	0.2441	0.0096	get 0.0012% / 1h	29m 41s	$2.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$0.84
Price spread: +0.115% → −0.013%: $12.77
Slippage, 4 orders: −$13.47
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$11.55
Costs to cover: 0.235%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Lighter: live order book, 7 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 OKX live order book, 4 min ago	2.05 bp	10.1 bp −$10	13.6 bp −$136	41.8 bp −$4,179	doesn't fit
Sell Lighter live order book, 7 min ago	2.65 bp	2.8 bp −$3	11.0 bp −$110	42.2 bp −$4,218	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	0.2439	+0.041%	$189K	$7.8M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2438	+0.015%	$83K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.354%	$849	$202K	12x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2441	+0.115%	$2.4M	$1.1M	10x
Hyperliquid ADA	+0.0100%	1h	0.2440	+0.103%	$42.8M	$18.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2440	+0.065%	$1.2M	$1.2M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2440	+0.070%	$156K	$181K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2439	+0.057%	$103.1M	$406.3M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2438	0.000%	$72.5M	$127.1M	75x	as long as short
OKX ADA-USDT-SWAPlong	+0.0100%	8h	0.2438	long leg	$32.5M	$117.6M	50x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2438	0.000%	$99.7M	$62.1M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2439	+0.041%	$58.7M	$68.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2440	+0.078%	$29.3M	$15.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2439	+0.041%	$66.2M	$53.9M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2439	+0.041%	—	$20.3M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2440	+0.082%	$135K	$485K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2441	+0.127%	$4.1M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2444	+0.257%	$65K	$289K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2452	+0.557%	$290K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2443	+0.205%	$74K	$895K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2437	−0.021%	$116K	$1.4M	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2438	0.000%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2438	+0.015%	$40K	$4K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2439	+0.033%	$8K	$751K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2441	+0.123%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2439	+0.055%	$1.3M	$7.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2439	+0.041%	$47.2M	$7.6M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2440	+0.080%	$20K	—	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2437	−0.026%	$541K	$1.8M	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0152%	1h	0.2441	+0.123%	$365K	$8.4M	50x	as long as short
Phoenix ADA	+0.0163%	1h	0.2451	+0.521%	$2K	$113K	10x	as long as short
Kraken Futures PF_ADAUSD	+0.0200%	1h	0.2438	+0.019%	$6.3M	$14.0M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2442	+0.164%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0272%	1h	0.2438	+0.001%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0365%	1h	0.2439	+0.057%	$633K	$737K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0368% / S −0.0295%	1h	0.2439	+0.025%	$86K	—	100x	as long as short
dYdX ADA-USD	+0.0786%	1h	0.2439	+0.025%	$203K	$4K	10x	as long as short