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 +0.020%

Price spread now: Bybit against GRVT−0.347%100s7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as 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−$340.343% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 7 days+0.266%+$27 · spread now −0.347%, 7d avg +0.002%

Together, before fees+0.222%+ Points / potential airdropGRVT: Active · farm board+$22 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: Bybit is 0.349% cheaper against GRVT than usual: you would sell low and buy high, −$35 on $10k if it goes back to its 7-day average of +0.002%. The two prices were read 100 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	GRVT ADA_USDT_Perp	0.2455	0.0100	pay 0.0100% / 8h	6h 09m	$297K	$3.8M	10x
Short	Bybit ADAUSDT	0.2446	0.0100	get 0.0100% / 8h	6h 09m	$71.9M	$108.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GRVT. 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 GRVTbpFee BybitbpOrdersPrice spread, now −0.347%Rate

Funding earned: $0
Price spread: −0.347% → +0.002%: −$34.87
Slippage, 4 orders: −$14.28
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$69.15
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Bybit: 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 GRVT live order book, 4 min ago	2.04 bp	12.7 bp −$13	32.6 bp −$326	3393.5 bp −$339.4K	doesn't fit
Sell Bybit live order book, 4 min ago	2.04 bp	7.5 bp −$8	11.9 bp −$119	31.9 bp −$3,194	136.9 bp −$68.4K

ADA on 36 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	0.2453	−0.056%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2450	−0.168%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.671%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2456	+0.060%	$406K	$7.4M	50x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2448	−0.266%	$42.7M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2450	−0.190%	$1.2M	$977K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.002%	$158K	$157K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2447	−0.313%	$102.7M	$371.8M	75x	as long as short
Bybit ADAUSDTshort	+0.0100%	8h	0.2446	−0.347%	$71.9M	$108.8M	75x
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2447	−0.306%	$32.5M	$107.1M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2444	−0.429%	$97.7M	$60.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2446	−0.347%	$58.8M	$52.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	−0.282%	$29.8M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2447	−0.306%	$65.6M	$47.2M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2446	−0.347%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2449	−0.217%	$129K	$410K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2455	+0.022%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.082%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perplong	+0.0100%	8h	0.2455	long leg	$297K	$3.8M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2457	+0.101%	$56K	$590K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	−0.078%	$93K	$670K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2450	−0.184%	$6K	$16K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	−0.113%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2453	−0.065%	$9K	$760K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2451	−0.139%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	−0.157%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2450	−0.184%	$47.7M	$6.3M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2445	−0.372%	$532K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0108%	8h	0.2455	+0.022%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0108%	8h	0.2454	−0.021%	$163K	$6.3M	3.2x	as long as short
Phoenix ADA	+0.0163%	1h	0.2456	+0.056%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0192%	1h	0.2448	−0.262%	$2.4M	$1.0M	10x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0240%	1h	0.2451	−0.131%	$501K	$470K	50x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2452	−0.103%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0354%	1h	0.2451	−0.162%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0415% / S −0.0202%	1h	0.2450	−0.185%	$95K	—	100x	as long as short