Funding you earn now, next payment 03:00 UTC−0.0310%/8h= −34.0% APRnext payment −$0.39 per $10,000 · paid last 24h −0.173%
Price spread now: Injective against Hyperliquid−0.351%53s7-day average −0.147% · you buy dearer than you sell
Net, funding: paid 7d − costs−$132as 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−$920.917% of the position
Funding, last 7 days−0.405%−$41 on $10k
+Price spread, last 4 days (all we have)+0.310%+$31 · spread now −0.351%, 7d avg −0.147%
=Together, before fees−0.095%+ Points / potential airdropHyperliquid: Season 2 · farm board−$9 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Injective is 0.204% cheaper against Hyperliquid than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.147%). Swap the legs. The two prices were read 53 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 | Hyperliquid GRAM | 1.4541 | 0.0344 | pay 0.0043% / 1h | 22m 25s | $35.9M | $7.2M | 5x |
| Short | Injective GRAM/USDC PERP | 1.4490 | 0.0033 | get 0.0004% / 1h | 22m 25s | $4K | $143K | 12x |
Hyperliquid GRAM
Injective GRAM/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Hyperliquid. 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
- −$65.15
- Price spread: −0.351% → −0.147%
- −$20.41
- Slippage, 4 orders
- −$82.72
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$177.3
- Costs to cover
- 0.917%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 11 min ago; Injective: live order book, 22 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 Hyperliquid live order book, 11 min ago | 1.72 bp | 7.1 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective live order book, 22 min ago | 37.97 bp | 38.0 bp −$38 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective GRAM/USDC PERPshort | +0.0033% | 1h | 1.4490 | −0.351% | $4K | $143K | 12x | |
| Paradex GRAM-USD-PERP | +0.0100% | 8h | 1.4527 | −0.093% | $2K | $19 | 5x | as long as short |
| Binance GRAMUSDT | +0.0100% | 4h | 1.4526 | −0.100% | $20.7M | $28.1M | 50x | as long as short |
| Bybit GRAMUSDT | +0.0100% | 4h | 1.4520 | −0.144% | $30.8M | $13.8M | 50x | as long as short |
| OKX GRAM-USDT-SWAP | +0.0100% | 4h | 1.4520 | −0.144% | $8.7M | $8.6M | 50x | as long as short |
| Gate GRAM_USDT | +0.0100% | 4h | 1.4526 | −0.103% | $3.7M | $3.3M | 75x | as long as short |
| MEXC GRAM_USDT | +0.0100% | 4h | 1.4510 | −0.213% | $15.3M | $2.6M | 20x | as long as short |
| KuCoin GRAMUSDTM | +0.0100% | 4h | 1.4521 | −0.138% | $8.8M | $10.5M | 50x | as long as short |
| Bitget GRAMUSDT | +0.0100% | 4h | 1.4520 | −0.144% | $7.2M | $4.1M | 50x | as long as short |
| Backpack GRAM_USDC_PERP | +0.0100% | 1h | 1.4513 | −0.193% | $54K | $16K | 10x | as long as short |
Paradex GRAM-USD-PERP
Binance GRAMUSDT
Bybit GRAMUSDT
OKX GRAM-USDT-SWAP
Gate GRAM_USDT
MEXC GRAM_USDT
KuCoin GRAMUSDTM
Bitget GRAMUSDT
Backpack GRAM_USDC_PERPShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX GRAMUSDC | +0.0100% | 4h | 1.4481 | −0.412% | $17K | $273K | 10x | as long as short |
| ApeX Omni GRAMUSDT | +0.0100% | 1h | 1.4490 | −0.351% | $14K | $608K | 50x | as long as short |
| Orderly PERP_GRAM_USDC_mythos | +0.0100% | 4h | 1.4500 | −0.282% | $2K | $1K | 10x | as long as short |
| SunX GRAM-USDT | +0.0100% | 4h | 1.4530 | −0.076% | $7K | $597K | 10x | as long as short |
| HTX GRAM-USDT | +0.0100% | 4h | 1.4554 | +0.089% | $339K | $620K | 30x | as long as short |
| Phemex GRAMUSDT | +0.0100% | 4h | 1.4510 | −0.213% | $1.5M | $1.8M | 20x | as long as short |
| Extended GRAM-USD | +0.0104% | 1h | 1.4526 | −0.102% | $169K | $123K | 5x | as long as short |
| BloFin GRAM-USDT | +0.0340% | 4h | 1.4500 | −0.282% | $1.4M | $208K | 50x | as long as short |
| Hyperliquid GRAMlong | +0.0344% | 1h | 1.4541 | long leg | $35.9M | $7.2M | 5x | |
| Aster GRAMUSDT | +0.0357% | 4h | 1.4524 | −0.116% | $973K | $126K | 50x | as long as short |
| Lighter GRAM | +0.0824% | 1h | 1.4542 | +0.010% | $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
BloFin GRAM-USDT
Aster GRAMUSDT
Lighter GRAM