Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h +0.027%

Price spread now: Kraken Futures against GRVT−0.058%75s7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as 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−$430.435% of the position

Long on GRVT Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 3 days (all we have)+0.461%+$46 · spread now −0.058%, 7d avg +0.032%

Together, before fees+0.413%+ Points / potential airdropGRVT: Active · farm board+$41 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: Kraken Futures is 0.089% cheaper against GRVT than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.032%. The two prices were read 75 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	0.2472	0.0100	pay 0.0100% / 8h	1h 38m	$298K	$3.7M	10x
Short	Kraken Futures PF_ADAUSD	0.2471	0.0094	get 0.0012% / 1h	38m 06s	$6.2M	$11.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$1.21
Price spread: −0.058% → +0.032%: −$8.9
Slippage, 4 orders: −$24.46
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$53.58
Costs to cover: 0.435%
Break-even: never at this rate

Slippage from GRVT: live order book, 6 min ago; Kraken Futures: live order book, 1 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	2.03 bp	13.6 bp −$14	20.2 bp −$202	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	1.82 bp	11.4 bp −$11	14.4 bp −$144	66.5 bp −$6,646	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	0.2470	−0.068%	$203K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2472	0.000%	$160K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2473	+0.040%	$85K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2470	−0.081%	$418K	$7.3M	50x	as long as short
Kraken Futures PF_ADAUSDshort	+0.0094%	1h	0.2471	−0.058%	$6.2M	$11.5M	50x
Lighter ADA	+0.0096%	1h	0.2473	+0.044%	$2.5M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2472	−0.008%	$42.8M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2472	+0.019%	$1.2M	$919K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2472	−0.008%	$158K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2472	−0.011%	$102.6M	$356.0M	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	0.2471	−0.040%	$71.8M	$100.1M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2472	0.000%	$32.1M	$105.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2470	−0.081%	$97.6M	$58.0M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2471	−0.040%	$53.5M	$50.4M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2471	−0.053%	$30.5M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2471	−0.040%	$66.2M	$42.9M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2471	−0.040%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2472	+0.008%	$104K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2473	+0.049%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2472	+0.006%	$66K	$279K	20x	as long as short
GRVT ADA_USDT_Perplong	+0.0100%	8h	0.2472	long leg	$298K	$3.7M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2473	+0.040%	$56K	$580K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2474	+0.073%	$97K	$626K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2473	+0.040%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2474	+0.094%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2472	0.000%	$9K	$755K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2472	−0.020%	$340	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2472	−0.011%	$1.3M	$5.1M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2471	−0.040%	$48.2M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2473	+0.025%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2471	−0.038%	$559K	$1.8M	50x	as long as short
Phoenix ADA	+0.0131%	1h	0.2472	−0.020%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2474	+0.081%	$4.4M	$5.5M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0235%	1h	0.2475	+0.101%	$481K	$349K	50x	as long as short
Reya ADARUSDPERP	+0.0285%	1h	0.2474	+0.086%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−1.092%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0567% / S −0.0313%	1h	0.2473	+0.052%	$123K	—	100x	as long as short