Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.058%

Price spread now: Reya against GRVT+0.100%64s7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 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 · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Reya is 0.100% dearer against GRVT than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 64 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	0.2451	0.0100	pay 0.0100% / 8h	4h 51m	$288K	$3.8M	10x
Short	Reya ADARUSDPERP	0.2453	0.0279	get 0.0035% / 1h	51m 57s	$1K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.100%Rate

Funding earned: $37.58
Price spread: +0.100% → 0.000%: $9.96
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: $32.54
Costs to cover: 0.150%
Break-even: 0.9 days

Slippage unknown: GRVT: live order book, 2 min ago; Reya: 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	15.1 bp −$15	29.0 bp −$290	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	0.2453	+0.107%	$202K	$3K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2452	+0.058%	$145K	$6.3M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2450	−0.007%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.834%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2456	+0.222%	$412K	$7.7M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0092%	1h	0.2451	+0.017%	$6.2M	$12.8M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2453	+0.091%	$2.4M	$1.1M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2453	+0.112%	$42.6M	$14.9M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2452	+0.058%	$1.2M	$980K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.193%	$159K	$161K	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	0.2452	+0.045%	$103.5M	$372.5M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2450	−0.023%	$71.5M	$111.3M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2452	+0.058%	$32.6M	$105.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2451	+0.018%	$98.0M	$58.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2452	+0.058%	$61.1M	$59.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2451	+0.026%	$29.6M	$15.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2450	−0.023%	$65.8M	$50.0M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2452	+0.058%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2451	+0.034%	$125K	$444K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2462	+0.470%	$4.3M	$1.1M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2461	+0.437%	$65K	$283K	20x	as long as short
GRVT ADA_USDT_Perplong	+0.0100%	8h	0.2451	long leg	$288K	$3.8M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2449	−0.064%	$226K	$740K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2453	+0.112%	$92K	$684K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2451	+0.018%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2452	+0.068%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2454	+0.141%	$9K	$740K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2452	+0.038%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2453	+0.086%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2452	+0.058%	$47.8M	$6.5M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2450	−0.009%	$533K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0106%	8h	0.2454	+0.150%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0195%	1h	0.2459	+0.360%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2461	+0.426%	$4.5M	$5.8M	75x	as long as short
Reya ADARUSDPERPshort	+0.0279%	1h	0.2453	+0.100%	$1K	—	15x
Deribit ADA_USDC-PERPETUAL	+0.0444%	1h	0.2453	+0.083%	$586K	$486K	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0625% / S −0.0463%	1h	0.2451	+0.007%	$149K	—	100x	as long as short