Funding arb · Price arb /

GRAM

all GRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.043%

Price spread now: SunX against Injective−1.201%61s7-day average +0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$176as 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−$1951.951% of the position

Long on Injective Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.187%+$19 on $10k

Price spread, last 4 days (all we have)+1.851%+$185 · spread now −1.201%, 7d avg +0.122%

Together, before fees+2.038%+$204 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 1.323% cheaper against Injective than usual: you would sell low and buy high (spread −1.201% now, against its 7-day average of +0.122%). If the spread goes back, that is −$132 on $10k: about 2 months of funding at the current rate (+$2 a day). The two prices were read 61 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	58m 07s	$4K	$143K	12x
Short	SunX GRAM-USDT	1.4316	0.0100	get 0.0050% / 4h	1h 58m	$6K	$489K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −1.201%Rate

Funding earned: $14
Price spread: −1.201% → +0.122%: −$132.31
Slippage, 4 orders: −$187.07
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$313.41
Costs to cover: 1.951%
Break-even: 163.7 days

Slippage from Injective: live order book, 53 min ago; SunX: live order book, 46 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, 53 min ago	38.50 bp	38.5 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 46 min ago	32.90 bp	66.9 bp −$67	doesn't fit	doesn't fit	doesn't fit

GRAM on 21 exchanges

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
Hyperliquid GRAM	+0.0100%	1h	1.4296	−1.339%	$35.0M	$7.1M	5x	as long as short
Binance GRAMUSDT	+0.0100%	4h	1.4284	−1.419%	$20.2M	$25.1M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4284	−1.422%	$30.3M	$12.2M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4290	−1.380%	$8.5M	$7.5M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4288	−1.394%	$3.6M	$3.2M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4280	−1.449%	$15.8M	$2.5M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4287	−1.401%	$8.8M	$8.6M	50x	as long as short
Bitget GRAMUSDT	+0.0100%	4h	1.4291	−1.373%	$6.9M	$3.7M	50x	as long as short
Backpack GRAM_USDC_PERP	+0.0100%	1h	1.4296	−1.339%	$52K	$14K	10x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX GRAMUSDC	+0.0100%	4h	1.4272	−1.505%	$16K	$275K	10x	as long as short
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4290	−1.380%	$14K	$622K	50x	as long as short
Orderly PERP_GRAM_USDC_mythos	+0.0100%	4h	1.4290	−1.380%	$2K	$1K	10x	as long as short
SunX GRAM-USDTshort	+0.0100%	4h	1.4316	−1.201%	$6K	$489K	10x
HTX GRAM-USDT	+0.0100%	4h	1.4312	−1.228%	$294K	$547K	30x	as long as short
Phemex GRAMUSDT	+0.0100%	4h	1.4280	−1.449%	$1.6M	$1.6M	20x	as long as short
Paradex GRAM-USD-PERP	+0.0100%	8h	1.4280	−1.447%	$2K	$31	5x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4280	−1.450%	$128K	$157K	5x	as long as short
Lighter GRAM	+0.0304%	1h	1.4302	−1.296%	$2.3M	$2.6M	20x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4300	−1.311%	$1.4M	$224K	50x	as long as short
Aster GRAMUSDT	+0.0444%	4h	1.4310	−1.239%	$964K	$120K	50x	as long as short