Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: GRVT against Bybit−0.221%110s7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as 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−$360.357% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days+0.270%+$27 · spread now −0.221%, 7d avg −0.001%

Together, before fees+0.334%+ Points / potential airdropGRVT: Active · farm board+$33 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: GRVT is 0.220% cheaper against Bybit than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −0.001%. The two prices were read 110 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	Bybit ADAUSDT	0.2456	0.0100	pay 0.0100% / 8h	4h 53m	$71.7M	$111.2M	75x
Short	GRVT ADA_USDT_Perp	0.2451	0.0100	get 0.0100% / 8h	4h 53m	$288K	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Bybit. 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 BybitbpFee GRVTbpOrdersPrice spread, now −0.221%Rate

Funding earned: $0
Price spread: −0.221% → −0.001%: −$21.99
Slippage, 4 orders: −$15.71
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$57.71
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; GRVT: live order book, 5 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 Bybit live order book, 5 min ago	2.03 bp	7.5 bp −$8	11.5 bp −$115	31.1 bp −$3,111	167.1 bp −$83.5K
Sell GRVT live order book, 5 min ago	2.03 bp	10.2 bp −$10	20.2 bp −$202	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	0.2458	+0.063%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2460	+0.163%	$140K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2457	+0.057%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.611%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2458	+0.081%	$413K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2459	+0.103%	$6.3M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2459	+0.114%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2458	+0.093%	$1.2M	$979K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2458	+0.064%	$160K	$161K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2458	+0.079%	$103.8M	$372.5M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDTlong	+0.0100%	8h	0.2456	long leg	$71.7M	$111.2M	75x
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2457	+0.041%	$32.7M	$105.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2456	0.000%	$98.3M	$58.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2455	−0.041%	$61.2M	$59.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2458	+0.090%	$29.7M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2456	0.000%	$66.0M	$50.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2456	0.000%	—	$20.0M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2458	+0.094%	$126K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	+0.248%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.156%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perpshort	+0.0100%	8h	0.2451	−0.221%	$288K	$3.8M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2449	−0.285%	$226K	$740K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2460	+0.155%	$92K	$683K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2457	+0.041%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2458	+0.064%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2459	+0.123%	$8K	$741K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2459	+0.102%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2458	+0.068%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2459	+0.122%	$47.9M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2455	−0.026%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2457	+0.023%	$21K	$250	20x	as long as short
Hyperliquid ADA	+0.0107%	1h	0.2459	+0.118%	$42.7M	$14.9M	10x	as long as short
Phoenix ADA	+0.0163%	1h	0.2459	+0.138%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2460	+0.163%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERP	+0.0279%	1h	0.2459	+0.103%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0442%	1h	0.2459	+0.106%	$587K	$486K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0547% / S −0.0339%	1h	0.2457	+0.040%	$121K	—	100x	as long as short