A substrate assembly, a display substrate and a display device are provided. The substrate assembly includes a cover plate and a functional substrate which are stacked. The functional substrate includes a plurality of first conductive terminals, and the cover plate includes a plurality of second conductive terminals. The plurality of the first conductive terminals are bonded to the plurality of the third conductive terminals through a plurality of connectors, and the plurality of the third conductive terminals are coupled to the plurality of the second conductive terminals through traces.