Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.017%

Price spread now: Injective against GRVT+0.772%7-day average +0.291% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 3 days (all we have)−1.697%−$170 · spread now +0.772%, 7d avg +0.291%

Together, before fees−1.767%+ Points / potential airdropGRVT: Active · farm board−$177 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.481% dearer against GRVT than usual: you sell high and buy low (spread +0.772% now, against its 7-day average of +0.291%): +$48 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 24 days.

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	6h 54m	$295K	$3.7M	10x
Short	Injective ADA/USDC PERP	0.2471	0.0033	get 0.0004% / 1h	54m 15s	$849	$202K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.772%Rate

Funding earned: −$14
Price spread: +0.772% → +0.291%: $48.06
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $25.04
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: GRVT: live order book, 5 min ago; Injective: no order-book sample. Net counts fees only.

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, 5 min ago	2.05 bp	15.7 bp −$16	35.7 bp −$357	3047.3 bp −$304.7K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
ApeX Omni ADAUSDT	−0.0012%	1h	0.2452	−0.003%	$56K	$587K	50x	as long as short
dYdX ADA-USD	0.0000%	1h	0.2437	−0.635%	$200K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2440	−0.492%	$207K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2435	−0.677%	$83K	—	150x	as long as short
Injective ADA/USDC PERPshort	+0.0033%	1h	0.2471	+0.772%	$849	$202K	12x
Coinbase International ADA-PERP-INTX	+0.0048%	1h	0.2435	−0.696%	$426K	$7.3M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2441	−0.460%	$4K	$87K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2444	−0.350%	$42.6M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2435	−0.713%	$1.2M	$966K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2438	−0.590%	$157K	$156K	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	0.2442	−0.405%	$101.7M	$374.0M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2442	−0.411%	$71.7M	$107.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2443	−0.370%	$32.2M	$107.7M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2441	−0.452%	$98.0M	$58.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2442	−0.411%	$49.9M	$50.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2440	−0.505%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2442	−0.411%	$65.3M	$46.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2442	−0.411%	—	$20.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2443	−0.374%	$129K	$424K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2434	−0.732%	$4.2M	$992K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	−0.065%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perplong	+0.0100%	8h	0.2452	long leg	$295K	$3.7M	10x
Polymarket Perps ADA-USD	+0.0100%	1h	0.2434	−0.758%	$92K	$653K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2438	−0.574%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2439	−0.519%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2435	−0.696%	$9K	$773K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2441	−0.452%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2442	−0.394%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2440	−0.492%	$47.5M	$6.4M	50x	as long as short
Lighter ADA	+0.0104%	1h	0.2442	−0.391%	$2.4M	$1.0M	10x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2439	−0.515%	$530K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0104%	8h	0.2437	−0.629%	$20K	$250	20x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2436	−0.656%	$4.5M	$5.6M	75x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2434	−0.756%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0356%	1h	0.2441	−0.452%	$6.1M	$12.0M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0570%	1h	0.2440	−0.488%	$488K	$462K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0393%	1h	0.2435	−0.713%	$140K	—	100x	as long as short