Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.051%
Price spread now: Backpack against Injective−0.028%7-day average — · you buy dearer than you sell
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
Funding pays, the price is against you. Backpack is 0.028% cheaper against Injective than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 33 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.058% in total) that is about 3.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective GRAM/USDC PERP | 1.4490 | 0.0033 | pay 0.0004% / 1h | 45m 10s | $4K | $143K | 12x |
| Short | Backpack GRAM_USDC_PERP | 1.4486 | 0.0100 | get 0.0013% / 1h | 45m 10s | $53K | $16K | 10x |
Injective GRAM/USDC PERP
Backpack GRAM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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: −0.028% → 0.000%
- −$2.76
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $1.22
- Costs to cover
- 0.100%
- Break-even
- 6.4 days
Slippage unknown: Injective: live order book, 64 min ago; Backpack: 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 Injective live order book, 64 min ago | 37.79 bp | 37.8 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
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 PERPlong | +0.0033% | 1h | 1.4490 | long leg | $4K | $143K | 12x | |
| Paradex GRAM-USD-PERP | +0.0100% | 8h | 1.4470 | −0.137% | $2K | $19 | 5x | as long as short |
| Binance GRAMUSDT | +0.0100% | 4h | 1.4476 | −0.095% | $20.7M | $28.2M | 50x | as long as short |
| Bybit GRAMUSDT | +0.0100% | 4h | 1.4470 | −0.138% | $30.7M | $14.0M | 50x | as long as short |
| OKX GRAM-USDT-SWAP | +0.0100% | 4h | 1.4470 | −0.138% | $8.7M | $8.5M | 50x | as long as short |
| Gate GRAM_USDT | +0.0100% | 4h | 1.4478 | −0.083% | $3.7M | $3.3M | 75x | as long as short |
| MEXC GRAM_USDT | +0.0100% | 4h | 1.4470 | −0.138% | $15.2M | $2.6M | 20x | as long as short |
| KuCoin GRAMUSDTM | +0.0100% | 4h | 1.4474 | −0.110% | $8.8M | $10.6M | 50x | as long as short |
| Bitget GRAMUSDT | +0.0100% | 4h | 1.4477 | −0.090% | $7.2M | $4.1M | 50x | as long as short |
| Backpack GRAM_USDC_PERPshort | +0.0100% | 1h | 1.4486 | −0.028% | $53K | $16K | 10x |
Paradex GRAM-USD-PERP
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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX GRAMUSDC | +0.0100% | 4h | 1.4449 | −0.285% | $17K | $274K | 10x | as long as short |
| ApeX Omni GRAMUSDT | +0.0100% | 1h | 1.4460 | −0.207% | $14K | $605K | 50x | as long as short |
| Orderly PERP_GRAM_USDC_mythos | +0.0100% | 4h | 1.4470 | −0.138% | $2K | $1K | 10x | as long as short |
| SunX GRAM-USDT | +0.0100% | 4h | 1.4480 | −0.069% | $6K | $598K | 10x | as long as short |
| HTX GRAM-USDT | +0.0100% | 4h | 1.4510 | +0.138% | $338K | $621K | 30x | as long as short |
| Phemex GRAMUSDT | +0.0100% | 4h | 1.4470 | −0.138% | $1.5M | $1.8M | 20x | as long as short |
| Extended GRAM-USD | +0.0104% | 1h | 1.4468 | −0.150% | $169K | $123K | 5x | as long as short |
| Hyperliquid GRAM | +0.0234% | 1h | 1.4492 | +0.014% | $35.8M | $7.3M | 5x | as long as short |
| BloFin GRAM-USDT | +0.0340% | 4h | 1.4460 | −0.207% | $1.4M | $203K | 50x | as long as short |
| Aster GRAMUSDT | +0.0365% | 4h | 1.4492 | +0.016% | $971K | $126K | 50x | as long as short |
| Lighter GRAM | +0.0792% | 1h | 1.4499 | +0.064% | $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
Hyperliquid GRAM
BloFin GRAM-USDT
Aster GRAMUSDT
Lighter GRAM