Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.051%
Price spread now: Injective against Backpack+0.166%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.058%−$6 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Injective is 0.166% dearer against Backpack than usual: you sell high and buy low (spread +0.166% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.3 days. At the pace of the last 7 days (−0.058% in total) that is about 20 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack GRAM_USDC_PERP | 1.4466 | 0.0100 | pay 0.0013% / 1h | 55m 07s | $53K | $16K | 10x |
| Short | Injective GRAM/USDC PERP | 1.4490 | 0.0033 | get 0.0004% / 1h | 55m 07s | $4K | $143K | 12x |
Backpack GRAM_USDC_PERP
Injective GRAM/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14
- Price spread: +0.166% → 0.000%
- $16.59
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$7.43
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: no order-book sample; Injective: live order book, 49 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Injective live order book, 49 min ago | 37.97 bp | 38.0 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
Backpack: 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.
GRAM on 21 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective GRAM/USDC PERPshort | +0.0033% | 1h | 1.4490 | +0.166% | $4K | $143K | 12x | |
| Paradex GRAM-USD-PERP | +0.0100% | 8h | 1.4459 | −0.048% | $2K | $19 | 5x | as long as short |
| Hyperliquid GRAM | +0.0100% | 1h | 1.4475 | +0.062% | $35.7M | $7.3M | 5x | as long as short |
| Binance GRAMUSDT | +0.0100% | 4h | 1.4460 | −0.041% | $20.6M | $28.2M | 50x | as long as short |
| Bybit GRAMUSDT | +0.0100% | 4h | 1.4460 | −0.041% | $30.6M | $13.9M | 50x | as long as short |
| OKX GRAM-USDT-SWAP | +0.0100% | 4h | 1.4460 | −0.041% | $8.7M | $8.6M | 50x | as long as short |
| Gate GRAM_USDT | +0.0100% | 4h | 1.4462 | −0.028% | $3.6M | $3.3M | 75x | as long as short |
| MEXC GRAM_USDT | +0.0100% | 4h | 1.4460 | −0.041% | $15.2M | $2.6M | 20x | as long as short |
| KuCoin GRAMUSDTM | +0.0100% | 4h | 1.4460 | −0.041% | $8.8M | $10.4M | 50x | as long as short |
| Bitget GRAMUSDT | +0.0100% | 4h | 1.4463 | −0.021% | $7.2M | $4.1M | 50x | as long as short |
Paradex GRAM-USD-PERP
Hyperliquid GRAM
Binance GRAMUSDT
Bybit GRAMUSDT
OKX GRAM-USDT-SWAP
Gate GRAM_USDT
MEXC GRAM_USDT
KuCoin GRAMUSDTM
Bitget GRAMUSDTShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Backpack GRAM_USDC_PERPlong | +0.0100% | 1h | 1.4466 | long leg | $53K | $16K | 10x | |
| edgeX GRAMUSDC | +0.0100% | 4h | 1.4435 | −0.216% | $17K | $273K | 10x | as long as short |
| ApeX Omni GRAMUSDT | +0.0100% | 1h | 1.4450 | −0.111% | $14K | $608K | 50x | as long as short |
| Orderly PERP_GRAM_USDC_mythos | +0.0100% | 4h | 1.4460 | −0.041% | $2K | $1K | 10x | as long as short |
| SunX GRAM-USDT | +0.0100% | 4h | 1.4478 | +0.083% | $7K | $598K | 10x | as long as short |
| HTX GRAM-USDT | +0.0100% | 4h | 1.4490 | +0.166% | $338K | $621K | 30x | as long as short |
| Phemex GRAMUSDT | +0.0100% | 4h | 1.4460 | −0.041% | $1.5M | $1.8M | 20x | as long as short |
| Extended GRAM-USD | +0.0104% | 1h | 1.4457 | −0.063% | $169K | $123K | 5x | as long as short |
| Aster GRAMUSDT | +0.0295% | 4h | 1.4470 | +0.028% | $970K | $126K | 50x | as long as short |
| BloFin GRAM-USDT | +0.0340% | 4h | 1.4440 | −0.180% | $1.4M | $207K | 50x | as long as short |
| Lighter GRAM | +0.0720% | 1h | 1.4484 | +0.126% | $2.6M | $2.4M | 20x | as long as short |
edgeX GRAMUSDC
ApeX Omni GRAMUSDT
Orderly PERP_GRAM_USDC_mythos
SunX GRAM-USDT
HTX GRAM-USDT
Phemex GRAMUSDT
Extended GRAM-USD
Aster GRAMUSDT
BloFin GRAM-USDT
Lighter GRAM