Funding arb · Price arb /

GRAM

all GRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.050%

Price spread now: HTX against Injective−0.421%65s7-day average +0.287% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as 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−$1291.293% of the position

Long on Injective Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.531%+$53 on $10k

Price spread, last 4 days (all we have)+1.279%+$128 · spread now −0.421%, 7d avg +0.287%

Together, before fees+1.810%+$181 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.708% cheaper against Injective than usual: you would sell low and buy high (spread −0.421% now, against its 7-day average of +0.287%). If the spread goes back, that is −$71 on $10k: about 35 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.531% in total) that is about 9.3 days. The two prices were read 65 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	25m 56s	$4K	$143K	12x
Short	HTX GRAM-USDT	1.4429	0.0100	get 0.0050% / 4h	25m 56s	$327K	$688K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.421%Rate

Funding earned: $14
Price spread: −0.421% → +0.287%: −$70.85
Slippage, 4 orders: −$117.28
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: −$186.15
Costs to cover: 1.293%
Break-even: 100.1 days

Slippage from Injective: live order book, 13 min ago; HTX: live order book, 33 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, 13 min ago	38.31 bp	38.3 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 33 min ago	17.58 bp	23.6 bp −$24	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 PERPlong	+0.0033%	1h	1.4490	long leg	$4K	$143K	12x
Lighter GRAM	+0.0096%	1h	1.4410	−0.549%	$2.3M	$2.9M	20x	as long as short
Paradex GRAM-USD-PERP	+0.0096%	8h	1.4398	−0.636%	$2K	$19	5x	as long as short
Hyperliquid GRAM	+0.0100%	1h	1.4415	−0.515%	$35.4M	$7.3M	5x	as long as short
Binance GRAMUSDT	+0.0100%	4h	1.4406	−0.582%	$20.4M	$28.7M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4400	−0.621%	$30.3M	$14.1M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4400	−0.621%	$8.6M	$8.7M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4407	−0.573%	$3.6M	$3.5M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4400	−0.621%	$15.4M	$2.6M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4407	−0.573%	$8.9M	$10.5M	50x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget GRAMUSDT	+0.0100%	4h	1.4406	−0.580%	$7.2M	$4.2M	50x	as long as short
edgeX GRAMUSDC	+0.0100%	4h	1.4458	−0.220%	$17K	$275K	10x	as long as short
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4450	−0.276%	$14K	$613K	50x	as long as short
Orderly PERP_GRAM_USDC_mythos	+0.0100%	4h	1.4400	−0.621%	$2K	$1K	10x	as long as short
SunX GRAM-USDT	+0.0100%	4h	1.4426	−0.442%	$7K	$611K	10x	as long as short
HTX GRAM-USDTshort	+0.0100%	4h	1.4429	−0.421%	$327K	$688K	30x
Phemex GRAMUSDT	+0.0100%	4h	1.4400	−0.621%	$1.5M	$1.8M	20x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4401	−0.614%	$168K	$123K	5x	as long as short
Aster GRAMUSDT	+0.0185%	4h	1.4415	−0.520%	$966K	$127K	50x	as long as short
Backpack GRAM_USDC_PERP	+0.0197%	1h	1.4413	−0.531%	$53K	$16K	10x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4400	−0.621%	$1.4M	$229K	50x	as long as short