Funding arb · Price arb /

GRAM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Bitget−0.103%46s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1651.654% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 3 days (all we have)+0.505%+$51 · spread now −0.103%, 7d avg −0.015%

Together, before fees+0.515%+$52 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: Phemex is 0.088% cheaper against Bitget than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.015%. The two prices were read 46 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	Bitget GRAMUSDT	1.4515	0.0100	pay 0.0050% / 4h	2h 53m	$7.2M	$3.8M	50x
Short	Phemex GRAMUSDT	1.4500	0.0100	get 0.0050% / 4h	2h 53m	$1.6M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → −0.015%: −$8.83
Slippage, 4 orders: −$141.41
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$174.23
Costs to cover: 1.654%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Phemex: 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 Bitget live order book, 5 min ago	1.72 bp	13.1 bp −$13	24.5 bp −$245	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	6.87 bp	71.2 bp −$71	doesn't fit	doesn't fit	doesn't fit

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
Paradex GRAM-USD-PERP	+0.0100%	8h	1.4508	−0.051%	$2K	$30	5x	as long as short
Hyperliquid GRAM	+0.0100%	1h	1.4534	+0.131%	$35.9M	$6.7M	5x	as long as short
Binance GRAMUSDT	+0.0100%	4h	1.4520	+0.034%	$20.9M	$25.8M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4520	+0.034%	$30.6M	$14.0M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4510	−0.034%	$8.6M	$8.4M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4519	+0.028%	$3.7M	$3.2M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4510	−0.034%	$15.3M	$2.8M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4517	+0.014%	$8.9M	$10.9M	50x	as long as short
Bitget GRAMUSDTlong	+0.0100%	4h	1.4515	long leg	$7.2M	$3.8M	50x
Backpack GRAM_USDC_PERP	+0.0100%	1h	1.4515	0.000%	$44K	$12K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX GRAMUSDC	+0.0100%	4h	1.4513	−0.012%	$17K	$269K	10x	as long as short
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4530	+0.103%	$13K	$585K	50x	as long as short
Orderly PERP_GRAM_USDC_mythos	+0.0100%	4h	1.4520	+0.034%	$2K	$1K	10x	as long as short
SunX GRAM-USDT	+0.0100%	4h	1.4525	+0.069%	$7K	$570K	10x	as long as short
Phemex GRAMUSDTshort	+0.0100%	4h	1.4500	−0.103%	$1.6M	$1.7M	20x
Extended GRAM-USD	+0.0104%	1h	1.4519	+0.025%	$150K	$103K	5x	as long as short
Injective GRAM/USDC PERP	+0.0132%	1h	1.4540	+0.172%	$4K	$121K	12x	as long as short
Aster GRAMUSDT	+0.0216%	4h	1.4538	+0.157%	$967K	$99K	50x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4500	−0.103%	$1.4M	$210K	50x	as long as short
Lighter GRAM	+0.0696%	1h	1.4544	+0.203%	$2.7M	$2.5M	20x	as long as short
HTX GRAM-USDT	+0.1343%	4h	1.4574	+0.406%	$338K	$628K	30x	as long as short