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: Phemex against GRVT−0.017%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on GRVT Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 3 days (all we have)+0.423%+$42 · spread now −0.017%, 7d avg +0.028%

Together, before fees+0.392%+ Points / potential airdropGRVT: Active · farm board+$39 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: Phemex is 0.045% cheaper against GRVT than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.028%.

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	2h 44m	$286K	$3.9M	10x
Short	Phemex ADAUSDT	0.2446	0.0100	get 0.0100% / 8h	2h 44m	$47.8M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.028%: −$4.5
Slippage, 4 orders: −$19.16
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$44.66
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Phemex: live order book, 5 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, 4 min ago	2.04 bp	10.3 bp −$10	17.8 bp −$178	1444.3 bp −$144.4K	doesn't fit
Sell Phemex live order book, 5 min ago	2.04 bp	15.3 bp −$15	21.9 bp −$219	47.3 bp −$4,727	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	0.2445	−0.068%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2448	+0.065%	$153K	$5.8M	3.2x	as long as short
Deribit ADA_USDC-PERPETUAL	0.0000%	1h	0.2448	+0.081%	$475K	$353K	50x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2447	+0.027%	$87K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2446	−0.017%	$409K	$7.2M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2446	−0.029%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2445	−0.078%	$42.4M	$14.5M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2445	−0.056%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2445	−0.062%	$156K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2445	−0.058%	$100.6M	$354.2M	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	0.2444	−0.099%	$70.4M	$99.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2444	−0.099%	$32.1M	$104.3M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2443	−0.140%	$96.8M	$57.2M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2444	−0.099%	$52.6M	$56.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	−0.078%	$30.4M	$18.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2445	−0.058%	$65.5M	$42.7M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2445	−0.058%	—	$20.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	−0.005%	$101K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2446	−0.037%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2448	+0.045%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perplong	+0.0100%	8h	0.2446	long leg	$286K	$3.9M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2447	+0.024%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2447	+0.040%	$96K	$679K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2448	+0.065%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2448	+0.064%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.064%	$9K	$757K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	+0.016%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2447	+0.030%	$1.3M	$4.9M	75x	as long as short
Phemex ADAUSDTshort	+0.0100%	8h	0.2446	−0.017%	$47.8M	$5.8M	50x
Paradex ADA-USD-PERP	+0.0100%	8h	0.2446	−0.037%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2445	−0.049%	$560K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2449	+0.118%	$4K	$82K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2447	+0.024%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0287%	1h	0.2447	+0.043%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0337%	1h	0.2447	+0.020%	$6.2M	$11.5M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0521% / S −0.0277%	1h	0.2447	+0.028%	$113K	—	100x	as long as short
Injective ADA/USDC PERP	+0.0533%	1h	0.2457	+0.433%	$844	$95K	12x	as long as short