Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.016%

Price spread now: Deribit against GRVT+0.053%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$6 on $10k

Price spread, last 3 days (all we have)+0.289%+$29 · spread now +0.053%, 7d avg +0.062%

Together, before fees+0.233%+ Points / potential airdropGRVT: Active · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.062%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.055%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ADA_USDT_Perp	0.2452	0.0100	pay 0.0100% / 8h	1h 23m	$292K	$3.8M	10x
Short	Deribit ADA_USDC-PERPETUAL	0.2453	0.0199	get 0.0025% / 1h	23m 08s	$479K	$352K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.053%Rate

Funding earned: $20.79
Price spread: +0.053% → +0.062%: −$0.92
Slippage, 4 orders: −$17.95
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$14.08
Costs to cover: 0.339%
Break-even: 11.7 days

Slippage from GRVT: live order book, 6 min ago; Deribit: live order book, 61 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, 6 min ago	2.04 bp	13.6 bp −$14	29.8 bp −$298	2950.4 bp −$295.0K	doesn't fit
Sell Deribit live order book, 61 min ago	3.05 bp	7.3 bp −$7	14.5 bp −$145	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	0.2451	−0.053%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2453	+0.041%	$154K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2453	+0.022%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2451	−0.041%	$409K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2452	−0.005%	$6.2M	$11.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2454	+0.073%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2453	+0.033%	$42.5M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2453	+0.048%	$1.2M	$917K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2452	+0.009%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2452	+0.007%	$101.7M	$359.6M	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	0.2451	−0.041%	$71.2M	$101.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2451	−0.041%	$31.8M	$105.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2452	0.000%	$96.6M	$58.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2451	−0.041%	$52.7M	$50.8M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2452	+0.004%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2452	0.000%	$65.7M	$43.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2452	0.000%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2453	+0.033%	$101K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2452	+0.008%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2452	−0.005%	$65K	$279K	20x	as long as short
GRVT ADA_USDT_Perplong	+0.0100%	8h	0.2452	long leg	$292K	$3.8M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2452	0.000%	$55K	$581K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	+0.053%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2452	0.000%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2453	+0.023%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.084%	$9K	$759K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	−0.016%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2453	+0.044%	$1.3M	$5.2M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2452	0.000%	$47.8M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2452	−0.003%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2451	−0.039%	$554K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2451	−0.057%	$4K	$74K	10x	as long as short
Deribit ADA_USDC-PERPETUALshort	+0.0199%	1h	0.2453	+0.053%	$479K	$352K	50x
BloFin ADA-USDT	+0.0220%	8h	0.2453	+0.041%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2452	+0.004%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2471	+0.775%	$849	$202K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2452	0.000%	$122K	—	100x	as long as short