Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.003%

Price spread now: GRVT against dYdX+0.025%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$338as in the Funding arb table

Net, price: spread back to 7d avg − costs−$352as in the Price arb table

costs, in and out, $10k−$3533.531% of the position

Long on dYdX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 4 days (all we have)+0.564%+$56 · spread now +0.025%, 7d avg +0.018%

Together, before fees+0.712%+ Points / potential airdropGRVT: Active · farm board+$71 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ADA-USD	0.2447	0	get 0.0000% / 1h	49m 13s	$201K	$4K	10x
Short	GRVT ADA_USDT_Perp	0.2448	0.0100	get 0.0100% / 8h	2h 49m	$286K	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against dYdX. 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 dYdXbpFee GRVTbpOrdersPrice spread, now +0.025%Rate

Funding earned: $21
Price spread: +0.025% → +0.018%: $0.67
Slippage, 4 orders: −$334.12
Fee dYdX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$331.45
Costs to cover: 3.531%
Break-even: 117.5 days

Slippage from dYdX: live order book, 39 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 dYdX live order book, 39 min ago	145.63 bp	150.6 bp −$151	150.6 bp −$1,506	157.6 bp −$15.8K	378.4 bp −$189.2K
Sell GRVT live order book, 5 min ago	6.12 bp	11.4 bp −$11	23.9 bp −$239	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-USDlong	0.0000%	1h	0.2447	long leg	$201K	$4K	10x
Kalshi KXADAPERP	0.0000%	8h	0.2449	+0.076%	$153K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2448	+0.027%	$475K	$358K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2447	−0.014%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2447	−0.006%	$409K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2449	+0.055%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	+0.010%	$42.3M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2448	+0.041%	$1.2M	$1.1M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2447	−0.006%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2447	+0.007%	$100.9M	$355.7M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2446	−0.047%	$70.5M	$99.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2446	−0.047%	$32.1M	$104.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2445	−0.088%	$96.9M	$57.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2447	−0.006%	$52.8M	$56.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2447	−0.018%	$30.5M	$18.4M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2447	−0.006%	$65.3M	$42.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2447	−0.006%	—	$20.7M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	+0.043%	$104K	$421K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2447	−0.026%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	+0.251%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perpshort	+0.0100%	8h	0.2448	+0.025%	$286K	$3.9M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2448	+0.035%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2447	−0.014%	$96K	$701K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2447	−0.006%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	+0.026%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.034%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	−0.006%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2448	+0.022%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2447	−0.006%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2447	+0.004%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2446	−0.035%	$560K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2449	+0.088%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	−0.006%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2447	−0.007%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2447	−0.015%	$6.1M	$11.5M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0521% / S −0.0277%	1h	0.2446	−0.033%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.403%	$844	$95K	12x	as long as short