Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: GRVT against Variational Omni+0.160%59s7-day average +0.004% · you sell dearer than you buy

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

Long on Variational Omni Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.160%, 7d avg +0.004%

Together, before fees−0.038%+ Points / potential airdropVariational Omni: Active · GRVT: Active · farm board−$4 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 0.156% dearer against Variational Omni than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.004%. The two prices were read 59 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	Variational Omni ADA	0.2442	0.0100	pay 0.0100% / 8h	7h 44m	$4.2M	$944K	—
Short	GRVT ADA_USDT_Perp	0.2446	0.0100	get 0.0100% / 8h	7h 44m	$289K	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Variational Omni. 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 Variational OmnibpFee GRVTbpOrdersPrice spread, now +0.160%Rate

Funding earned: $0
Price spread: +0.160% → +0.004%: $15.56
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $6.56
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; GRVT: live order book, 4 min ago. 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 Variational Omni RFQ quote, 5 min ago	8.18 bp	doesn't fit	12.3 bp −$123	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	2.05 bp	6.5 bp −$7	16.9 bp −$169	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	+0.194%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2447	+0.200%	$194K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2447	+0.182%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+1.183%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0040%	1h	0.2443	+0.036%	$407K	$7.2M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0048%	1h	0.2447	+0.191%	$6.1M	$11.7M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2450	+0.302%	$2.4M	$1.1M	10x	as long as short
Phoenix ADA	+0.0098%	1h	0.2445	+0.122%	$4K	$84K	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2450	+0.310%	$42.6M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2448	+0.233%	$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 ADA	+0.0100%	1h	0.2447	+0.208%	$157K	$145K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2446	+0.177%	$101.2M	$364.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2446	+0.159%	$71.4M	$103.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2446	+0.159%	$32.3M	$106.6M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2446	+0.159%	$97.6M	$58.3M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2446	+0.159%	$52.4M	$50.9M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2448	+0.233%	$30.0M	$17.9M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2446	+0.159%	$65.7M	$43.8M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2446	+0.159%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2448	+0.249%	$107K	$413K	15x	as long as short
Variational Omni ADAlong	+0.0100%	8h	0.2442	long leg	$4.2M	$944K	—
edgeX ADAUSDC	+0.0100%	4h	0.2446	+0.157%	$65K	$282K	20x	as long as short
GRVT ADA_USDT_Perpshort	+0.0100%	8h	0.2446	+0.160%	$289K	$3.8M	10x
ApeX Omni ADAUSDT	+0.0100%	1h	0.2443	+0.036%	$55K	$583K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2447	+0.187%	$93K	$643K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2446	+0.159%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2447	+0.210%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2448	+0.241%	$9K	$765K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2447	+0.200%	$337	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2448	+0.231%	$1.3M	$5.5M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2446	+0.159%	$47.8M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0101%	8h	0.2446	+0.177%	$21K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2445	+0.138%	$550K	$1.8M	50x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2449	+0.282%	$4.4M	$5.5M	75x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2447	+0.201%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0623% / S −0.0393%	1h	0.2446	+0.160%	$141K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.1262%	1h	0.2450	+0.331%	$494K	$431K	50x	as long as short