Funding arb · Price arb /

GRAM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.043%

Price spread now: Bitget against Injective−0.773%91s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as 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−$1051.051% of the position

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.177%+$18 on $10k

Price spread, last 4 days (all we have)+1.220%+$122 · spread now −0.773%, 7d avg +0.023%

Together, before fees+1.397%+$140 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.795% cheaper against Injective than usual: you would sell low and buy high (spread −0.773% now, against its 7-day average of +0.023%). If the spread goes back, that is −$80 on $10k: about 40 days of funding at the current rate (+$2 a day). The two prices were read 91 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	Injective GRAM/USDC PERP	1.4490	0.0033	pay 0.0004% / 1h	33m 45s	$4K	$143K	12x
Short	Bitget GRAMUSDT	1.4378	0.0100	get 0.0050% / 4h	3h 33m	$7.1M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now −0.773%Rate

Funding earned: $14
Price spread: −0.773% → +0.023%: −$79.55
Slippage, 4 orders: −$93.12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$170.68
Costs to cover: 1.051%
Break-even: 92.3 days

Slippage from Injective: live order book, just now; Bitget: 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 Injective live order book, just now	27.82 bp	47.8 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	4.17 bp	14.6 bp −$15	26.4 bp −$264	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 PERPlong	+0.0033%	1h	1.4490	long leg	$4K	$143K	12x
Paradex GRAM-USD-PERP	+0.0100%	8h	1.4391	−0.686%	$2K	$19	5x	as long as short
Binance GRAMUSDT	+0.0100%	4h	1.4380	−0.759%	$20.3M	$28.6M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4376	−0.787%	$30.4M	$14.0M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4380	−0.759%	$8.6M	$8.6M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4377	−0.780%	$3.6M	$3.4M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4370	−0.828%	$16.1M	$2.7M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4389	−0.697%	$9.0M	$10.4M	50x	as long as short
Bitget GRAMUSDTshort	+0.0100%	4h	1.4378	−0.773%	$7.1M	$4.1M	50x
edgeX GRAMUSDC	+0.0100%	4h	1.4389	−0.698%	$17K	$274K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4380	−0.759%	$14K	$616K	50x	as long as short
Orderly PERP_GRAM_USDC_mythos	+0.0100%	4h	1.4380	−0.759%	$2K	$1K	10x	as long as short
SunX GRAM-USDT	+0.0100%	4h	1.4417	−0.504%	$6K	$594K	10x	as long as short
HTX GRAM-USDT	+0.0100%	4h	1.4409	−0.559%	$328K	$652K	30x	as long as short
Phemex GRAMUSDT	+0.0100%	4h	1.4380	−0.759%	$1.5M	$1.8M	20x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4374	−0.798%	$168K	$123K	5x	as long as short
Aster GRAMUSDT	+0.0123%	4h	1.4390	−0.690%	$965K	$126K	50x	as long as short
Lighter GRAM	+0.0240%	1h	1.4396	−0.649%	$2.3M	$2.9M	20x	as long as short
Backpack GRAM_USDC_PERP	+0.0321%	1h	1.4382	−0.745%	$53K	$16K	10x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4370	−0.828%	$1.4M	$236K	50x	as long as short
Hyperliquid GRAM	+0.0948%	1h	1.4393	−0.669%	$35.4M	$7.5M	5x	as long as short