Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Orderly against GRVT−0.271%70s7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.271% cheaper against GRVT than usual: you would sell low and buy high, −$27 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 70 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	0.2457	0.0100	pay 0.0100% / 8h	31m 47s	$292K	$3.8M	10x
Short	Orderly PERP_ADA_USDC	0.2450	0.0100	get 0.0100% / 8h	31m 47s	$6K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.271%Rate

Funding earned: $0
Price spread: −0.271% → 0.000%: −$27.14
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$42.14
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 2 min ago; Orderly: 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, 2 min ago	2.04 bp	10.4 bp −$10	19.0 bp −$190	1468.2 bp −$146.8K	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
dYdX ADA-USD	0.0000%	1h	0.2452	−0.204%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2451	−0.231%	$175K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2451	−0.245%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2450	−0.271%	$404K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2452	−0.194%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	−0.292%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2450	−0.257%	$1.2M	$926K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2452	−0.174%	$158K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2449	−0.312%	$101.8M	$362.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2448	−0.353%	$71.4M	$102.6M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2449	−0.312%	$32.3M	$106.8M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2448	−0.353%	$97.3M	$59.6M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2448	−0.353%	$52.8M	$50.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2450	−0.284%	$30.1M	$18.1M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2449	−0.312%	$65.7M	$43.3M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2449	−0.312%	—	$18.1M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2451	−0.227%	$110K	$415K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2454	−0.100%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2456	−0.010%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perplong	+0.0100%	8h	0.2457	long leg	$292K	$3.8M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2453	−0.149%	$55K	$582K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2451	−0.243%	$95K	$627K	10x	as long as short
Orderly PERP_ADA_USDCshort	+0.0100%	8h	0.2450	−0.271%	$6K	$36K	20x
Derive ADA-PERP	+0.0100%	1h	0.2452	−0.208%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2451	−0.232%	$9K	$763K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2450	−0.251%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2451	−0.217%	$1.3M	$5.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2450	−0.271%	$47.9M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2452	−0.196%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2449	−0.308%	$554K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0113%	1h	0.2451	−0.250%	$6.2M	$11.6M	50x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0117%	1h	0.2452	−0.190%	$493K	$430K	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2452	−0.174%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2456	−0.027%	$4.4M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+0.583%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0284%	1h	0.2450	−0.267%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2451	−0.231%	$122K	—	100x	as long as short