Funding arb · Price arb /

GRAM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.143%

Price spread now: Bitget against Hyperliquid−0.063%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$400.395% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.225%−$23 on $10k

Price spread, last 7 days+0.002%$0 · spread now −0.063%, 7d avg −0.086%

Together, before fees−0.223%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.023% dearer against Hyperliquid than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid GRAM	1.4483	0.0100	pay 0.0013% / 1h	3m 22s	$35.6M	$7.0M	5x
Short	Bitget GRAMUSDT	1.4474	0.0100	get 0.0050% / 4h	3m 22s	$7.2M	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hyperliquid. 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 HyperliquidbpFee BitgetbpOrdersPrice spread, now −0.063%Rate

Funding earned: $0
Price spread: −0.063% → −0.086%: $2.27
Slippage, 4 orders: −$18.54
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$37.27
Costs to cover: 0.395%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Bitget: live order book, 5 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 Hyperliquid live order book, 10 min ago	1.38 bp	7.8 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.76 bp	11.9 bp −$12	28.9 bp −$289	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	+0.0033%	1h	1.4490	+0.047%	$4K	$143K	12x	as long as short
Paradex GRAM-USD-PERP	+0.0100%	8h	1.4464	−0.135%	$2K	$30	5x	as long as short
Hyperliquid GRAMlong	+0.0100%	1h	1.4483	long leg	$35.6M	$7.0M	5x
Binance GRAMUSDT	+0.0100%	4h	1.4470	−0.091%	$20.4M	$27.1M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4476	−0.049%	$30.6M	$13.9M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4470	−0.091%	$8.6M	$8.5M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4473	−0.070%	$3.7M	$3.2M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4470	−0.091%	$15.4M	$2.7M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4471	−0.084%	$8.9M	$10.9M	50x	as long as short
Bitget GRAMUSDTshort	+0.0100%	4h	1.4474	−0.063%	$7.2M	$4.0M	50x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack GRAM_USDC_PERP	+0.0100%	1h	1.4487	+0.027%	$43K	$15K	10x	as long as short
edgeX GRAMUSDC	+0.0100%	4h	1.4463	−0.139%	$17K	$272K	10x	as long as short
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4460	−0.160%	$14K	$601K	50x	as long as short
Orderly PERP_GRAM_USDC_mythos	+0.0100%	4h	1.4480	−0.022%	$2K	$1K	10x	as long as short
SunX GRAM-USDT	+0.0100%	4h	1.4487	+0.027%	$7K	$593K	10x	as long as short
Phemex GRAMUSDT	+0.0100%	4h	1.4470	−0.091%	$1.6M	$1.7M	20x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4467	−0.109%	$169K	$123K	5x	as long as short
Aster GRAMUSDT	+0.0188%	4h	1.4480	−0.022%	$975K	$111K	50x	as long as short
HTX GRAM-USDT	+0.0257%	4h	1.4503	+0.137%	$336K	$620K	30x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4460	−0.160%	$1.4M	$205K	50x	as long as short
Lighter GRAM	+0.0872%	1h	1.4497	+0.096%	$2.7M	$2.3M	20x	as long as short