ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%

Price spread now: Lighter against Polymarket Perps+0.061%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$270.265% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 3 days (all we have)−0.234%−$23 · spread now +0.061%, 7d avg +0.014%

Together, before fees−0.156%+ Points / potential airdropLighter: Season 3 · farm board−$16 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 0.047% dearer against Polymarket Perps than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ADA-USD	0.2460	0.0100	pay 0.0013% / 1h	35m 11s	$93K	$645K	10x
Short	Lighter ADA	0.2461	0.0096	get 0.0012% / 1h	35m 11s	$2.4M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$0.84
Price spread: +0.061% → +0.014%: $4.66
Slippage, 4 orders: −$18.54
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.72
Costs to cover: 0.265%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 37 min ago; Lighter: 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 Polymarket Perps live order book, 37 min ago	2.46 bp	7.3 bp −$7	8.6 bp −$86	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	2.43 bp	9.7 bp −$10	24.9 bp −$249	63.2 bp −$6,322	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	0.2463	+0.111%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2462	+0.085%	$199K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2458	−0.096%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.451%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2458	−0.077%	$417K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2459	−0.049%	$6.2M	$11.7M	50x	as long as short
Lighter ADAshort	+0.0096%	1h	0.2461	+0.061%	$2.4M	$1.1M	10x
Phoenix ADA	+0.0098%	1h	0.2454	−0.248%	$4K	$84K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2460	−0.007%	$1.2M	$946K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2464	+0.148%	$158K	$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	0.2460	−0.007%	$101.9M	$364.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2460	+0.004%	$72.0M	$103.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2461	+0.045%	$32.5M	$106.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2460	+0.004%	$97.6M	$58.5M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2460	+0.004%	$52.8M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2459	−0.024%	$30.1M	$17.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2464	+0.167%	$66.2M	$44.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2464	+0.167%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2463	+0.126%	$116K	$420K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2460	+0.009%	$4.2M	$942K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.306%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2453	−0.281%	$296K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2456	−0.159%	$56K	$583K	50x	as long as short
Polymarket Perps ADA-USDlong	+0.0100%	1h	0.2460	long leg	$93K	$645K	10x
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2458	−0.077%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2459	−0.033%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2460	+0.004%	$9K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2459	−0.045%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2460	+0.007%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2459	−0.037%	$48.0M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2465	+0.192%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2458	−0.077%	$554K	$1.8M	50x	as long as short
Hyperliquid ADA	+0.0115%	1h	0.2467	+0.276%	$43.0M	$14.4M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0197%	1h	0.2459	−0.020%	$494K	$435K	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2458	−0.077%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2460	−0.015%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0625% / S −0.0393%	1h	0.2457	−0.115%	$141K	—	100x	as long as short