Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.026%

Price spread now: GRVT against Hyperliquid−0.226%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Hyperliquid Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.180%+$18 on $10k

Price spread, last 7 days+0.350%+$35 · spread now −0.226%, 7d avg +0.001%

Together, before fees+0.530%+ Points / potential airdropHyperliquid: Season 2 · GRVT: Active · farm board+$53 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: GRVT is 0.227% cheaper against Hyperliquid than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ADA	0.2455	0.0100	pay 0.0013% / 1h	57m 12s	$42.5M	$14.6M	10x
Short	GRVT ADA_USDT_Perp	0.2449	0.0100	get 0.0100% / 8h	1h 57m	$296K	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Hyperliquid. 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 HyperliquidbpFee GRVTbpOrdersPrice spread, now −0.226%Rate

Funding earned: $0
Price spread: −0.226% → +0.001%: −$22.69
Slippage, 4 orders: −$13.86
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$54.55
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; GRVT: live order book, 2 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 Hyperliquid live order book, 6 min ago	0.20 bp	5.5 bp −$6	10.0 bp −$100	doesn't fit	doesn't fit
Sell GRVT live order book, 2 min ago	2.04 bp	6.5 bp −$7	25.7 bp −$257	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	0.2455	−0.001%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2455	+0.006%	$162K	$5.9M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2457	+0.072%	$84K	—	150x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0035%	1h	0.2459	+0.152%	$477K	$353K	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0064%	1h	0.2454	−0.035%	$407K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0095%	1h	0.2456	+0.064%	$6.2M	$11.4M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2458	+0.128%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADAlong	+0.0100%	1h	0.2455	long leg	$42.5M	$14.6M	10x
Aster ADAUSDT	+0.0100%	8h	0.2454	−0.016%	$1.2M	$1.0M	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.019%	$157K	$147K	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	0.2457	+0.087%	$101.8M	$355.7M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2458	+0.128%	$70.7M	$99.8M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2458	+0.128%	$31.8M	$105.4M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2455	+0.006%	$96.7M	$57.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2456	+0.046%	$52.8M	$50.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2455	−0.015%	$30.3M	$18.2M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2457	+0.087%	$65.8M	$42.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2458	+0.128%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2453	−0.076%	$101K	$412K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2449	−0.223%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	−0.201%	$65K	$278K	20x	as long as short
GRVT ADA_USDT_Perpshort	+0.0100%	8h	0.2449	−0.226%	$296K	$3.9M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2450	−0.198%	$55K	$579K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2455	−0.002%	$96K	$624K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2458	+0.128%	$6K	$36K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2458	+0.121%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2456	+0.045%	$9K	$756K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2457	+0.075%	$338	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2459	+0.182%	$1.3M	$5.0M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2456	+0.046%	$47.9M	$5.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2456	+0.041%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2456	+0.052%	$556K	$1.8M	50x	as long as short
Phoenix ADA	+0.0195%	1h	0.2454	−0.031%	$4K	$74K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2453	−0.076%	$4.4M	$5.4M	75x	as long as short
Reya ADARUSDPERP	+0.0286%	1h	0.2457	+0.077%	$1K	—	15x	as long as short
Injective ADA/USDC PERP	+0.0288%	1h	0.2445	−0.402%	$840	$168K	12x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0565% / S −0.0313%	1h	0.2457	+0.094%	$122K	—	100x	as long as short