Funding arb · Price arb /

GRAM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%

Price spread now: Paradex against Backpack−0.101%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.101% cheaper against Backpack than usual: you would sell low and buy high, −$10 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack GRAM_USDC_PERP	1.4476	0.0100	pay 0.0013% / 1h	41m 05s	$53K	$20K	10x
Short	Paradex GRAM-USD-PERP	1.4461	0.0100	get 0.0100% / 8h	7h 41m	$2K	$30	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Backpack. 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 BackpackbpFee ParadexbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$0.06
Price spread: −0.101% → 0.000%: −$10.12
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$24.17
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

Backpack and Paradex: 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 PERP	+0.0033%	1h	1.4490	+0.097%	$4K	$143K	12x	as long as short
Paradex GRAM-USD-PERPshort	+0.0100%	8h	1.4461	−0.101%	$2K	$30	5x
Hyperliquid GRAM	+0.0100%	1h	1.4481	+0.035%	$35.6M	$7.0M	5x	as long as short
Binance GRAMUSDT	+0.0100%	4h	1.4463	−0.088%	$20.4M	$27.0M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4466	−0.069%	$30.6M	$13.7M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4460	−0.111%	$8.6M	$8.3M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4467	−0.062%	$3.7M	$3.2M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4460	−0.111%	$15.4M	$2.6M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4468	−0.055%	$8.9M	$10.9M	50x	as long as short
Bitget GRAMUSDT	+0.0100%	4h	1.4468	−0.055%	$7.2M	$3.9M	50x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack GRAM_USDC_PERPlong	+0.0100%	1h	1.4476	long leg	$53K	$20K	10x
edgeX GRAMUSDC	+0.0100%	4h	1.4472	−0.031%	$17K	$271K	10x	as long as short
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4460	−0.111%	$14K	$599K	50x	as long as short
Orderly PERP_GRAM_USDC_mythos	+0.0100%	4h	1.4460	−0.111%	$2K	$1K	10x	as long as short
SunX GRAM-USDT	+0.0100%	4h	1.4486	+0.069%	$7K	$592K	10x	as long as short
Phemex GRAMUSDT	+0.0100%	4h	1.4460	−0.111%	$1.6M	$1.7M	20x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4457	−0.131%	$169K	$123K	5x	as long as short
Aster GRAMUSDT	+0.0199%	4h	1.4480	+0.028%	$975K	$111K	50x	as long as short
Lighter GRAM	+0.0216%	1h	1.4484	+0.055%	$2.6M	$2.4M	20x	as long as short
HTX GRAM-USDT	+0.0273%	4h	1.4514	+0.263%	$337K	$618K	30x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4480	+0.028%	$1.4M	$205K	50x	as long as short