Funding you earn now, next payment 23:00 UTC−0.0135%/8h= −14.8% APRnext payment −$0.17 per $10,000 · paid last 24h +0.054%
Price spread now: Hyperliquid against Lighter−0.081%7-day average −0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$41as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$310.309% of the position
Funding, last 7 days−0.102%−$10 on $10k
+Price spread, last 7 days+0.144%+$14 · spread now −0.081%, 7d avg −0.003%
=Together, before fees+0.043%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Hyperliquid is 0.078% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.003%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter GRAM | 1.4526 | 0.0704 | pay 0.0088% / 1h | 56m 26s | $2.7M | $2.3M | 20x |
| Short | Hyperliquid GRAM | 1.4514 | 0.0569 | get 0.0071% / 1h | 56m 26s | $35.8M | $6.9M | 5x |
Lighter GRAM
Hyperliquid GRAMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Lighter. 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
- −$28.4
- Price spread: −0.081% → −0.003%
- −$7.8
- Slippage, 4 orders
- −$21.9
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$67.1
- Costs to cover
- 0.309%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 6 min ago; Hyperliquid: live order book, 7 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 Lighter live order book, 6 min ago | 0.86 bp | 5.2 bp −$5 | 34.8 bp −$348 | 212.7 bp −$21.3K | doesn't fit |
| Sell Hyperliquid live order book, 7 min ago | 0.69 bp | 7.2 bp −$7 | 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 PERP | −0.0387% | 1h | 1.4490 | −0.246% | $4K | $143K | 12x | as long as short |
| Paradex GRAM-USD-PERP | +0.0099% | 8h | 1.4492 | −0.231% | $2K | $30 | 5x | as long as short |
| Binance GRAMUSDT | +0.0100% | 4h | 1.4496 | −0.208% | $20.5M | $26.7M | 50x | as long as short |
| Bybit GRAMUSDT | +0.0100% | 4h | 1.4493 | −0.226% | $30.7M | $14.0M | 50x | as long as short |
| OKX GRAM-USDT-SWAP | +0.0100% | 4h | 1.4490 | −0.246% | $8.6M | $8.5M | 50x | as long as short |
| Gate GRAM_USDT | +0.0100% | 4h | 1.4498 | −0.191% | $3.7M | $3.2M | 75x | as long as short |
| MEXC GRAM_USDT | +0.0100% | 4h | 1.4500 | −0.178% | $15.4M | $2.8M | 20x | as long as short |
| KuCoin GRAMUSDTM | +0.0100% | 4h | 1.4497 | −0.198% | $8.7M | $10.9M | 50x | as long as short |
| Bitget GRAMUSDT | +0.0100% | 4h | 1.4494 | −0.219% | $7.2M | $3.9M | 50x | as long as short |
| Backpack GRAM_USDC_PERP | +0.0100% | 1h | 1.4499 | −0.184% | $45K | $13K | 10x | as long as short |
Injective GRAM/USDC PERP
Paradex GRAM-USD-PERP
Binance GRAMUSDT
Bybit GRAMUSDT
OKX GRAM-USDT-SWAP
Gate GRAM_USDT
MEXC GRAM_USDT
KuCoin GRAMUSDTM
Bitget GRAMUSDT
Backpack GRAM_USDC_PERPShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX GRAMUSDC | +0.0100% | 4h | 1.4491 | −0.240% | $17K | $269K | 10x | as long as short |
| ApeX Omni GRAMUSDT | +0.0100% | 1h | 1.4490 | −0.246% | $13K | $593K | 50x | as long as short |
| Orderly PERP_GRAM_USDC_mythos | +0.0100% | 4h | 1.4490 | −0.246% | $2K | $1K | 10x | as long as short |
| SunX GRAM-USDT | +0.0100% | 4h | 1.4516 | −0.067% | $7K | $591K | 10x | as long as short |
| Phemex GRAMUSDT | +0.0100% | 4h | 1.4480 | −0.315% | $1.6M | $1.7M | 20x | as long as short |
| Extended GRAM-USD | +0.0104% | 1h | 1.4494 | −0.221% | $169K | $123K | 5x | as long as short |
| Aster GRAMUSDT | +0.0244% | 4h | 1.4519 | −0.049% | $966K | $102K | 50x | as long as short |
| BloFin GRAM-USDT | +0.0340% | 4h | 1.4500 | −0.178% | $1.4M | $210K | 50x | as long as short |
| Hyperliquid GRAMshort | +0.0569% | 1h | 1.4514 | −0.081% | $35.8M | $6.9M | 5x | |
| Lighter GRAMlong | +0.0704% | 1h | 1.4526 | long leg | $2.7M | $2.3M | 20x | |
| HTX GRAM-USDT | +0.0820% | 4h | 1.4529 | +0.022% | $337K | $629K | 30x | as long as short |
edgeX GRAMUSDC
ApeX Omni GRAMUSDT
Orderly PERP_GRAM_USDC_mythos
SunX GRAM-USDT
Phemex GRAMUSDT
Extended GRAM-USD
Aster GRAMUSDT
BloFin GRAM-USDT
HTX GRAM-USDT