Funding arb · Price arb /

GRAM

all GRAM markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against Injective+0.097%88s7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as 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−$1121.118% of the position

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 3 days (all we have)+0.402%+$40 · spread now +0.097%, 7d avg +0.032%

Together, before fees+0.482%+$48 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.065% dearer against Injective than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.032%. The two prices were read 88 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 46s	$4K	$143K	12x
Short	Bybit GRAMUSDT	1.4504	0.0100	get 0.0050% / 4h	33m 46s	$30.7M	$14.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.097%Rate

Funding earned: $14
Price spread: +0.097% → +0.032%: $6.48
Slippage, 4 orders: −$100.8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$91.34
Costs to cover: 1.118%
Break-even: 52.7 days

Slippage from Injective: live order book, 25 min ago; Bybit: 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, 25 min ago	34.55 bp	47.8 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.45 bp	14.3 bp −$14	29.2 bp −$292	482.6 bp −$48.3K	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	1.4504	+0.096%	$2K	$30	5x	as long as short
Hyperliquid GRAM	+0.0100%	1h	1.4523	+0.228%	$35.7M	$7.0M	5x	as long as short
Binance GRAMUSDT	+0.0100%	4h	1.4510	+0.138%	$20.5M	$26.9M	50x	as long as short
Bybit GRAMUSDTshort	+0.0100%	4h	1.4504	+0.097%	$30.7M	$14.0M	50x
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4500	+0.069%	$8.6M	$8.5M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4512	+0.152%	$3.7M	$3.2M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4500	+0.069%	$15.4M	$2.7M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4512	+0.152%	$8.9M	$10.9M	50x	as long as short
Bitget GRAMUSDT	+0.0100%	4h	1.4512	+0.152%	$7.1M	$3.9M	50x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack GRAM_USDC_PERP	+0.0100%	1h	1.4516	+0.179%	$44K	$15K	10x	as long as short
edgeX GRAMUSDC	+0.0100%	4h	1.4501	+0.078%	$17K	$272K	10x	as long as short
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4530	+0.276%	$13K	$592K	50x	as long as short
Orderly PERP_GRAM_USDC_mythos	+0.0100%	4h	1.4510	+0.138%	$2K	$1K	10x	as long as short
SunX GRAM-USDT	+0.0100%	4h	1.4527	+0.255%	$7K	$591K	10x	as long as short
Phemex GRAMUSDT	+0.0100%	4h	1.4510	+0.138%	$1.6M	$1.7M	20x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4507	+0.121%	$169K	$123K	5x	as long as short
Aster GRAMUSDT	+0.0161%	4h	1.4533	+0.295%	$967K	$99K	50x	as long as short
HTX GRAM-USDT	+0.0287%	4h	1.4557	+0.462%	$336K	$628K	30x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4520	+0.207%	$1.4M	$216K	50x	as long as short
Lighter GRAM	+0.0840%	1h	1.4540	+0.348%	$2.8M	$2.3M	20x	as long as short