Funding you earn now, next payment 23:00 UTC−0.0487%/8h= −53.4% APRpaid last 24h −0.037%
Price spread now: Injective against Bybit+0.270%88s7-day average −0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$111as 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−$1041.040% of the position
Funding, last 7 days−0.075%−$7 on $10k
+Price spread, last 3 days (all we have)−0.693%−$69 · spread now +0.270%, 7d avg −0.032%
=The price spread pays, funding is against you. Injective is 0.302% dearer against Bybit than usual: you sell high and buy low (spread +0.270% now, against its 7-day average of −0.032%): +$30 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 7 days (−0.075% in total) that is about 28 days. The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.075% in total (about -3.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit GRAMUSDT | 1.4451 | 0.0100 | pay 0.0050% / 4h | 1h 13m | $30.6M | $14.0M | 50x |
| Short | Injective GRAM/USDC PERP | 1.4490 | −0.0387 | pay 0.0048% / 1h | 13m 55s | $4K | $143K | 12x |
Bybit GRAMUSDT
Injective GRAM/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. 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
- −$102.35
- Price spread: +0.270% → −0.032%
- $30.23
- Slippage, 4 orders
- −$92.93
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$176.06
- Costs to cover
- 1.040%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Injective: live order book, 50 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 Bybit live order book, 5 min ago | 3.46 bp | 12.2 bp −$12 | 29.9 bp −$299 | 723.2 bp −$72.3K | doesn't fit |
| Sell Injective live order book, 50 min ago | 37.97 bp | 38.0 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective GRAM/USDC PERPshort | −0.0387% | 1h | 1.4490 | +0.270% | $4K | $143K | 12x | |
| Paradex GRAM-USD-PERP | +0.0099% | 8h | 1.4456 | +0.033% | $2K | $30 | 5x | as long as short |
| Hyperliquid GRAM | +0.0100% | 1h | 1.4460 | +0.065% | $35.6M | $7.0M | 5x | as long as short |
| Binance GRAMUSDT | +0.0100% | 4h | 1.4451 | +0.003% | $20.4M | $26.8M | 50x | as long as short |
| Bybit GRAMUSDTlong | +0.0100% | 4h | 1.4451 | long leg | $30.6M | $14.0M | 50x | |
| OKX GRAM-USDT-SWAP | +0.0100% | 4h | 1.4450 | −0.007% | $8.6M | $8.5M | 50x | as long as short |
| Gate GRAM_USDT | +0.0100% | 4h | 1.4454 | +0.021% | $3.7M | $3.2M | 75x | as long as short |
| MEXC GRAM_USDT | +0.0100% | 4h | 1.4460 | +0.062% | $15.4M | $2.8M | 20x | as long as short |
| KuCoin GRAMUSDTM | +0.0100% | 4h | 1.4456 | +0.035% | $8.9M | $11.0M | 50x | as long as short |
| Bitget GRAMUSDT | +0.0100% | 4h | 1.4460 | +0.062% | $7.1M | $3.8M | 50x | as long as short |
Paradex GRAM-USD-PERP
Hyperliquid GRAM
Binance GRAMUSDT
OKX GRAM-USDT-SWAP
Gate GRAM_USDT
MEXC GRAM_USDT
KuCoin GRAMUSDTM
Bitget GRAMUSDTShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Backpack GRAM_USDC_PERP | +0.0100% | 1h | 1.4464 | +0.090% | $43K | $15K | 10x | as long as short |
| edgeX GRAMUSDC | +0.0100% | 4h | 1.4450 | −0.010% | $17K | $272K | 10x | as long as short |
| ApeX Omni GRAMUSDT | +0.0100% | 1h | 1.4440 | −0.076% | $13K | $591K | 50x | as long as short |
| Orderly PERP_GRAM_USDC_mythos | +0.0100% | 4h | 1.4460 | +0.062% | $2K | $1K | 10x | as long as short |
| SunX GRAM-USDT | +0.0100% | 4h | 1.4477 | +0.180% | $7K | $593K | 10x | as long as short |
| Phemex GRAMUSDT | +0.0100% | 4h | 1.4450 | −0.007% | $1.6M | $1.7M | 20x | as long as short |
| Extended GRAM-USD | +0.0104% | 1h | 1.4457 | +0.042% | $169K | $123K | 5x | as long as short |
| Aster GRAMUSDT | +0.0171% | 4h | 1.4480 | +0.201% | $964K | $99K | 50x | as long as short |
| BloFin GRAM-USDT | +0.0340% | 4h | 1.4440 | −0.076% | $1.4M | $215K | 50x | as long as short |
| HTX GRAM-USDT | +0.0387% | 4h | 1.4500 | +0.339% | $335K | $628K | 30x | as long as short |
| Lighter GRAM | +0.0552% | 1h | 1.4485 | +0.233% | $2.7M | $2.3M | 20x | as long as short |
Backpack GRAM_USDC_PERP
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
Lighter GRAM