Funding arb · Price arb /

ADA

all ADA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h −0.031%

Price spread now: GRVT against Kraken Futures+0.100%7-day average −0.032% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$470.471% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 3 days (all we have)−0.413%−$41 · spread now +0.100%, 7d avg −0.032%

Together, before fees−0.371%+ Points / potential airdropGRVT: Active · farm board−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and GRVT is 0.133% dearer against Kraken Futures than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ADAUSD	0.2449	0.0048	pay 0.0006% / 1h	39m 18s	$6.1M	$11.6M	50x
Short	GRVT ADA_USDT_Perp	0.2451	0.0100	get 0.0100% / 8h	7h 39m	$296K	$3.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Kraken Futures. 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 Kraken FuturesbpFee GRVTbpOrdersPrice spread, now +0.100%Rate

Funding earned: $11.02
Price spread: +0.100% → −0.032%: $13.3
Slippage, 4 orders: −$28.11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$22.79
Costs to cover: 0.471%
Break-even: 21.5 days

Slippage from Kraken Futures: live order book, 5 min ago; GRVT: 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 Kraken Futures live order book, 5 min ago	2.86 bp	12.9 bp −$13	15.8 bp −$158	38.2 bp −$3,820	doesn't fit
Sell GRVT live order book, 5 min ago	2.04 bp	10.5 bp −$11	30.0 bp −$300	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	0.2454	+0.239%	$202K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2456	+0.304%	$195K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2451	+0.080%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.916%	$849	$202K	12x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0036%	1h	0.2450	+0.075%	$492K	$435K	50x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2449	+0.018%	$412K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSDlong	+0.0048%	1h	0.2449	long leg	$6.1M	$11.6M	50x
Lighter ADA	+0.0096%	1h	0.2451	+0.083%	$2.4M	$1.1M	10x	as long as short
Phoenix ADA	+0.0098%	1h	0.2450	+0.067%	$4K	$84K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2455	+0.263%	$42.8M	$14.3M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ADAUSDT	+0.0100%	8h	0.2453	+0.169%	$1.2M	$944K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2455	+0.248%	$158K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2450	+0.059%	$101.4M	$364.1M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2450	+0.059%	$71.8M	$103.6M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2451	+0.099%	$32.4M	$106.5M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2451	+0.099%	$97.7M	$58.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2453	+0.181%	$52.7M	$51.0M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2454	+0.238%	$30.1M	$17.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2450	+0.059%	$65.9M	$43.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2451	+0.099%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2456	+0.312%	$111K	$411K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2451	+0.104%	$4.2M	$944K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2450	+0.076%	$65K	$281K	20x	as long as short
GRVT ADA_USDT_Perpshort	+0.0100%	8h	0.2451	+0.100%	$296K	$3.7M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2451	+0.099%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2452	+0.144%	$93K	$644K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2450	+0.059%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2451	+0.082%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2455	+0.262%	$9K	$764K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2449	+0.014%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2450	+0.045%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2449	+0.018%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2455	+0.252%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2448	−0.003%	$553K	$1.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2448	−0.023%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2452	+0.142%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0624% / S −0.0393%	1h	0.2450	+0.067%	$141K	—	100x	as long as short