Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h −0.007%

Price spread now: GRVT against Coinbase International−0.317%7-day average +0.011% · 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−$76as in the Price arb table

costs, in and out, $10k−$430.434% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.142%+$14 on $10k

Price spread, last 3 days (all we have)+0.046%+$5 · spread now −0.317%, 7d avg +0.011%

Together, before fees+0.187%+ Points / potential airdropGRVT: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.327% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.317% now, against its 7-day average of +0.011%). If the spread goes back, that is −$33 on $10k: about 30 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2461	0.0064	pay 0.0008% / 1h	55m 08s	$409K	$7.2M	50x
Short	GRVT ADA_USDT_Perp	0.2453	0.0100	get 0.0100% / 8h	1h 55m	$296K	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Coinbase International. 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 Coinbase InternationalbpFee GRVTbpOrdersPrice spread, now −0.317%Rate

Funding earned: $7.56
Price spread: −0.317% → +0.011%: −$32.75
Slippage, 4 orders: −$24.38
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$68.57
Costs to cover: 0.434%
Break-even: 70.5 days

Slippage from Coinbase International: live order book, 4 min ago; GRVT: 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 Coinbase International live order book, 4 min ago	6.11 bp	11.9 bp −$12	18.8 bp −$188	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	2.04 bp	6.5 bp −$7	25.7 bp −$257	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	0.2461	−0.009%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2462	+0.041%	$162K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2465	+0.167%	$479K	$351K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2464	+0.107%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0064%	1h	0.2461	long leg	$409K	$7.2M	50x
Kraken Futures PF_ADAUSD	+0.0094%	1h	0.2464	+0.135%	$6.2M	$11.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2466	+0.211%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2465	+0.179%	$42.7M	$14.6M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2465	+0.163%	$1.2M	$998K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2463	+0.072%	$158K	$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	0.2465	+0.167%	$102.2M	$355.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2464	+0.122%	$70.9M	$99.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2466	+0.203%	$32.0M	$105.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2463	+0.081%	$97.1M	$57.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2465	+0.163%	$53.1M	$50.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2464	+0.122%	$30.4M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2464	+0.122%	$65.9M	$42.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2464	+0.122%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2465	+0.183%	$101K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2460	−0.029%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	−0.450%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perpshort	+0.0100%	8h	0.2453	−0.317%	$296K	$3.9M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2455	−0.244%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2465	+0.163%	$97K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2464	+0.122%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2464	+0.119%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2465	+0.161%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2464	+0.102%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2466	+0.214%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2464	+0.122%	$48.1M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2463	+0.083%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2463	+0.086%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2454	−0.280%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2466	+0.203%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2465	+0.172%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−0.650%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0566% / S −0.0313%	1h	0.2464	+0.102%	$122K	—	100x	as long as short