Funding you earn now, next payment 06:00 UTC−0.0344%/8h= −37.6% APRpaid last 24h −0.129%
Price spread now: Phemex against Hyperliquid−0.125%48s7-day average −0.123% · you buy dearer than you sell
Net, funding: paid 7d − costs−$161as 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−$1381.380% of the position
Funding, last 7 days−0.230%−$23 on $10k
+Price spread, last 4 days (all we have)+0.094%+$9 · spread now −0.125%, 7d avg −0.123%
=Together, before fees−0.136%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.123%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.230% in total (about -12.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid GRAM | 1.4378 | 0.0444 | pay 0.0055% / 1h | 39m 30s | $35.5M | $7.6M | 5x |
| Short | Phemex GRAMUSDT | 1.4360 | 0.0100 | get 0.0050% / 4h | 2h 39m | $1.5M | $1.8M | 20x |
Hyperliquid GRAM
Phemex GRAMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$72.14
- Price spread: −0.125% → −0.123%
- −$0.18
- Slippage, 4 orders
- −$116.96
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$210.29
- Costs to cover
- 1.380%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago | 0.35 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 10.44 bp | 63.5 bp −$63 | 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 PERP | +0.0033% | 1h | 1.4490 | +0.779% | $4K | $143K | 12x | as long as short |
| Lighter GRAM | +0.0096% | 1h | 1.4370 | −0.054% | $2.3M | $2.9M | 20x | as long as short |
| Binance GRAMUSDT | +0.0100% | 4h | 1.4353 | −0.170% | $20.3M | $27.5M | 50x | as long as short |
| Bybit GRAMUSDT | +0.0100% | 4h | 1.4347 | −0.216% | $30.3M | $13.6M | 50x | as long as short |
| OKX GRAM-USDT-SWAP | +0.0100% | 4h | 1.4340 | −0.264% | $8.6M | $8.1M | 50x | as long as short |
| Gate GRAM_USDT | +0.0100% | 4h | 1.4360 | −0.125% | $3.5M | $3.4M | 75x | as long as short |
| MEXC GRAM_USDT | +0.0100% | 4h | 1.4360 | −0.125% | $16.5M | $2.6M | 20x | as long as short |
| KuCoin GRAMUSDTM | +0.0100% | 4h | 1.4360 | −0.125% | $9.2M | $10.1M | 50x | as long as short |
| Bitget GRAMUSDT | +0.0100% | 4h | 1.4354 | −0.167% | $7.1M | $4.0M | 50x | as long as short |
| edgeX GRAMUSDC | +0.0100% | 4h | 1.4358 | −0.141% | $17K | $274K | 10x | as long as short |
Injective GRAM/USDC PERP
Lighter GRAM
Binance GRAMUSDT
Bybit GRAMUSDT
OKX GRAM-USDT-SWAP
Gate GRAM_USDT
MEXC GRAM_USDT
KuCoin GRAMUSDTM
Bitget GRAMUSDT
edgeX GRAMUSDCShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni GRAMUSDT | +0.0100% | 1h | 1.4370 | −0.056% | $14K | $618K | 50x | as long as short |
| Orderly PERP_GRAM_USDC_mythos | +0.0100% | 4h | 1.4360 | −0.125% | $2K | $1K | 10x | as long as short |
| SunX GRAM-USDT | +0.0100% | 4h | 1.4376 | −0.014% | $6K | $561K | 10x | as long as short |
| HTX GRAM-USDT | +0.0100% | 4h | 1.4391 | +0.090% | $330K | $584K | 30x | as long as short |
| Phemex GRAMUSDTshort | +0.0100% | 4h | 1.4360 | −0.125% | $1.5M | $1.8M | 20x | |
| Paradex GRAM-USD-PERP | +0.0100% | 8h | 1.4353 | −0.177% | $2K | $19 | 5x | as long as short |
| Extended GRAM-USD | +0.0104% | 1h | 1.4356 | −0.151% | $168K | $123K | 5x | as long as short |
| Aster GRAMUSDT | +0.0214% | 4h | 1.4380 | +0.014% | $964K | $120K | 50x | as long as short |
| BloFin GRAM-USDT | +0.0340% | 4h | 1.4360 | −0.125% | $1.4M | $237K | 50x | as long as short |
| Hyperliquid GRAMlong | +0.0444% | 1h | 1.4378 | long leg | $35.5M | $7.6M | 5x | |
| Backpack GRAM_USDC_PERP | +0.0486% | 1h | 1.4359 | −0.132% | $53K | $16K | 10x | as long as short |
ApeX Omni GRAMUSDT
Orderly PERP_GRAM_USDC_mythos
SunX GRAM-USDT
HTX GRAM-USDT
Paradex GRAM-USD-PERP
Extended GRAM-USD
Aster GRAMUSDT
BloFin GRAM-USDT
Backpack GRAM_USDC_PERP