Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.043%
Price spread now: Phemex against Injective−0.138%65s7-day average +0.022% · you buy dearer than you sell
Net, funding: paid 7d − costs−$198as 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−$2162.162% of the position
Funding, last 7 days+0.187%+$19 on $10k
+Price spread, last 4 days (all we have)+0.502%+$50 · spread now −0.138%, 7d avg +0.022%
=Funding pays, the price is against you. Phemex is 0.160% cheaper against Injective than usual: you would sell low and buy high (spread −0.138% now, against its 7-day average of +0.022%). If the spread goes back, that is −$16 on $10k: about 8.0 days of funding at the current rate (+$2 a day). The two prices were read 65 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 | 3m 38s | $4K | $143K | 12x |
| Short | Phemex GRAMUSDT | 1.4470 | 0.0100 | get 0.0050% / 4h | 1h 03m | $1.5M | $1.8M | 20x |
Injective GRAM/USDC PERP
Phemex GRAMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Injective. 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
- $14
- Price spread: −0.138% → +0.022%
- −$16.01
- Slippage, 4 orders
- −$204.16
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$218.19
- Costs to cover
- 2.162%
- Break-even
- 116.1 days
Slippage from Injective: live order book, 40 min ago; Phemex: 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 Injective live order book, 40 min ago | 37.97 bp | 38.0 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 17.25 bp | 67.2 bp −$67 | 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 PERPlong | +0.0033% | 1h | 1.4490 | long leg | $4K | $143K | 12x | |
| Paradex GRAM-USD-PERP | +0.0100% | 8h | 1.4411 | −0.543% | $2K | $19 | 5x | as long as short |
| Binance GRAMUSDT | +0.0100% | 4h | 1.4449 | −0.282% | $20.6M | $28.2M | 50x | as long as short |
| Bybit GRAMUSDT | +0.0100% | 4h | 1.4431 | −0.407% | $30.5M | $13.9M | 50x | as long as short |
| OKX GRAM-USDT-SWAP | +0.0100% | 4h | 1.4430 | −0.414% | $8.7M | $8.6M | 50x | as long as short |
| Gate GRAM_USDT | +0.0100% | 4h | 1.4434 | −0.386% | $3.6M | $3.4M | 75x | as long as short |
| MEXC GRAM_USDT | +0.0100% | 4h | 1.4440 | −0.345% | $15.2M | $2.6M | 20x | as long as short |
| KuCoin GRAMUSDTM | +0.0100% | 4h | 1.4443 | −0.324% | $8.8M | $10.4M | 50x | as long as short |
| Bitget GRAMUSDT | +0.0100% | 4h | 1.4437 | −0.366% | $7.2M | $4.1M | 50x | as long as short |
| Backpack GRAM_USDC_PERP | +0.0100% | 1h | 1.4467 | −0.159% | $53K | $16K | 10x | as long as short |
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 | 1.4456 | −0.232% | $17K | $274K | 10x | as long as short |
| ApeX Omni GRAMUSDT | +0.0100% | 1h | 1.4470 | −0.138% | $14K | $607K | 50x | as long as short |
| Orderly PERP_GRAM_USDC_mythos | +0.0100% | 4h | 1.4460 | −0.207% | $2K | $1K | 10x | as long as short |
| SunX GRAM-USDT | +0.0100% | 4h | 1.4489 | −0.007% | $6K | $597K | 10x | as long as short |
| HTX GRAM-USDT | +0.0100% | 4h | 1.4504 | +0.097% | $338K | $620K | 30x | as long as short |
| Phemex GRAMUSDTshort | +0.0100% | 4h | 1.4470 | −0.138% | $1.5M | $1.8M | 20x | |
| Extended GRAM-USD | +0.0104% | 1h | 1.4426 | −0.444% | $169K | $123K | 5x | as long as short |
| Hyperliquid GRAM | +0.0311% | 1h | 1.4444 | −0.317% | $35.6M | $7.2M | 5x | as long as short |
| Aster GRAMUSDT | +0.0314% | 4h | 1.4450 | −0.276% | $968K | $126K | 50x | as long as short |
| BloFin GRAM-USDT | +0.0340% | 4h | 1.4460 | −0.207% | $1.4M | $207K | 50x | as long as short |
| Lighter GRAM | +0.0792% | 1h | 1.4454 | −0.251% | $2.6M | $2.4M | 20x | as long as short |
edgeX GRAMUSDC
ApeX Omni GRAMUSDT
Orderly PERP_GRAM_USDC_mythos
SunX GRAM-USDT
HTX GRAM-USDT
Extended GRAM-USD
Hyperliquid GRAM
Aster GRAMUSDT
BloFin GRAM-USDT
Lighter GRAM