Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: Pacifica against GRVT+0.048%52s7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as 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−$360.359% of the position

Long on GRVT Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.048%, 7d avg +0.007%

Together, before fees−0.061%+ Points / potential airdropGRVT: Active · Pacifica: Active · farm board−$6 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: Pacifica is 0.041% dearer against GRVT than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.007%. The two prices were read 52 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	0.2446	0.0100	pay 0.0100% / 8h	7h 44m	$289K	$3.8M	10x
Short	Pacifica ADA	0.2447	0.0100	get 0.0013% / 1h	44m 25s	$157K	$145K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.048%Rate

Funding earned: $0
Price spread: +0.048% → +0.007%: $4.14
Slippage, 4 orders: −$18.94
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$31.8
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Pacifica: live order book, 28 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, 5 min ago	2.05 bp	14.2 bp −$14	27.5 bp −$275	2502.4 bp −$250.2K	doesn't fit
Sell Pacifica live order book, 28 min ago	2.25 bp	7.2 bp −$7	doesn't fit	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	0.2447	+0.034%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2447	+0.040%	$194K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2444	−0.100%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.021%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2443	−0.123%	$407K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0048%	1h	0.2447	+0.031%	$6.1M	$11.7M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2450	+0.142%	$2.4M	$1.1M	10x	as long as short
Phoenix ADA	+0.0098%	1h	0.2445	−0.038%	$4K	$84K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2445	−0.046%	$42.5M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2447	+0.036%	$1.2M	$939K	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ADAshort	+0.0100%	1h	0.2447	+0.048%	$157K	$145K	10x
Binance ADAUSDT	+0.0100%	8h	0.2444	−0.068%	$101.1M	$364.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2444	−0.083%	$71.4M	$103.4M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2444	−0.083%	$32.3M	$106.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2446	−0.001%	$97.6M	$58.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2443	−0.123%	$52.3M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	−0.029%	$30.0M	$17.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2445	−0.042%	$65.7M	$43.8M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2445	−0.042%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	+0.089%	$107K	$413K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2442	−0.159%	$4.2M	$944K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2446	−0.002%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perplong	+0.0100%	8h	0.2446	long leg	$289K	$3.8M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2443	−0.123%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2445	−0.062%	$93K	$644K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2446	−0.001%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2447	+0.051%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.081%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	+0.040%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2448	+0.072%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	−0.001%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2446	+0.018%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2445	−0.022%	$550K	$1.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2449	+0.122%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2443	−0.122%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0622% / S −0.0393%	1h	0.2442	−0.150%	$141K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.1262%	1h	0.2450	+0.171%	$494K	$431K	50x	as long as short