Funding you earn now, next payment 22:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.039%
Price spread now: Injective against Phemex−0.480%55s7-day average −0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$225as 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−$2072.065% of the position
Funding, last 7 days−0.183%−$18 on $10k
+Price spread, last 3 days (all we have)−0.064%−$6 · spread now −0.480%, 7d avg −0.023%
=Funding pays, the price is against you. Injective is 0.458% cheaper against Phemex than usual: you would sell low and buy high (spread −0.480% now, against its 7-day average of −0.023%). If the spread goes back, that is −$46 on $10k: about 48 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.183%, so the current rate has only just turned in your favour. The two prices were read 55 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 | Phemex GRAMUSDT | 1.4570 | 0.0100 | pay 0.0050% / 4h | 2h 33m | $1.6M | $1.7M | 20x |
| Short | Injective GRAM/USDC PERP | 1.4500 | 0.0132 | get 0.0016% / 1h | 33m 23s | $4K | $132K | 12x |
Phemex GRAMUSDT
Injective GRAM/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Phemex. 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
- $6.71
- Price spread: −0.480% → −0.023%
- −$45.78
- Slippage, 4 orders
- −$194.51
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$245.6
- Costs to cover
- 2.065%
- Break-even
- 263.2 days
Slippage from Phemex: live order book, 5 min ago; Injective: live order book, 36 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 Phemex live order book, 5 min ago | 10.31 bp | 62.0 bp −$62 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective live order book, 36 min ago | 37.81 bp | 37.8 bp −$38 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Paradex GRAM-USD-PERP | +0.0100% | 8h | 1.4527 | −0.298% | $2K | $30 | 5x | as long as short |
| Hyperliquid GRAM | +0.0100% | 1h | 1.4529 | −0.281% | $35.8M | $6.9M | 5x | as long as short |
| Binance GRAMUSDT | +0.0100% | 4h | 1.4506 | −0.441% | $20.8M | $26.1M | 50x | as long as short |
| Bybit GRAMUSDT | +0.0100% | 4h | 1.4510 | −0.412% | $30.6M | $13.9M | 50x | as long as short |
| OKX GRAM-USDT-SWAP | +0.0100% | 4h | 1.4500 | −0.480% | $8.7M | $8.4M | 50x | as long as short |
| Gate GRAM_USDT | +0.0100% | 4h | 1.4511 | −0.405% | $3.7M | $3.2M | 75x | as long as short |
| MEXC GRAM_USDT | +0.0100% | 4h | 1.4500 | −0.480% | $15.4M | $2.8M | 20x | as long as short |
| KuCoin GRAMUSDTM | +0.0100% | 4h | 1.4524 | −0.316% | $8.7M | $10.9M | 50x | as long as short |
| Bitget GRAMUSDT | +0.0100% | 4h | 1.4506 | −0.439% | $7.2M | $3.8M | 50x | as long as short |
| Backpack GRAM_USDC_PERP | +0.0100% | 1h | 1.4580 | +0.069% | $44K | $12K | 10x | as long as short |
Paradex GRAM-USD-PERP
Hyperliquid GRAM
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 | 1.4555 | −0.103% | $17K | $270K | 10x | as long as short |
| ApeX Omni GRAMUSDT | +0.0100% | 1h | 1.4560 | −0.069% | $14K | $588K | 50x | as long as short |
| Orderly PERP_GRAM_USDC_mythos | +0.0100% | 4h | 1.4520 | −0.343% | $2K | $1K | 10x | as long as short |
| SunX GRAM-USDT | +0.0100% | 4h | 1.4516 | −0.371% | $7K | $574K | 10x | as long as short |
| Phemex GRAMUSDTlong | +0.0100% | 4h | 1.4570 | long leg | $1.6M | $1.7M | 20x | |
| Extended GRAM-USD | +0.0104% | 1h | 1.4504 | −0.452% | $150K | $103K | 5x | as long as short |
| Injective GRAM/USDC PERPshort | +0.0132% | 1h | 1.4500 | −0.480% | $4K | $132K | 12x | |
| Aster GRAMUSDT | +0.0263% | 4h | 1.4538 | −0.220% | $967K | $101K | 50x | as long as short |
| BloFin GRAM-USDT | +0.0340% | 4h | 1.4550 | −0.137% | $1.4M | $210K | 50x | as long as short |
| Lighter GRAM | +0.0872% | 1h | 1.4564 | −0.041% | $2.7M | $2.5M | 20x | as long as short |
| HTX GRAM-USDT | +0.1444% | 4h | 1.4612 | +0.288% | $339K | $627K | 30x | as long as short |
edgeX GRAMUSDC
ApeX Omni GRAMUSDT
Orderly PERP_GRAM_USDC_mythos
SunX GRAM-USDT
Extended GRAM-USD
Aster GRAMUSDT
BloFin GRAM-USDT
Lighter GRAM
HTX GRAM-USDT