Funding arb · Price arb /

GRAM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0287%/8h= +31.4% APRpaid last 24h +0.009%

Price spread now: Backpack against Orderly−0.035%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Backpack is 0.035% cheaper against Orderly than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_GRAM_USDC_mythos	1.4370	0.0100	pay 0.0050% / 4h	3h 54m	$2K	$1K	10x
Short	Backpack GRAM_USDC_PERP	1.4365	0.0387	get 0.0048% / 1h	54m 04s	$53K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Orderly. 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 OrderlybpFee BackpackbpOrdersPrice spread, now −0.035%Rate

Funding earned: $60.17
Price spread: −0.035% → 0.000%: −$3.48
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: $40.69
Costs to cover: 0.160%
Break-even: 2.3 days

Slippage unknown: Orderly: no order-book sample; Backpack: no order-book sample. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Backpack no order-book sample	—	—	—	—	—

Orderly and Backpack: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.835%	$4K	$143K	12x	as long as short
Paradex GRAM-USD-PERP	+0.0098%	8h	1.4379	+0.060%	$2K	$19	5x	as long as short
Binance GRAMUSDT	+0.0100%	4h	1.4364	−0.040%	$20.3M	$28.8M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4363	−0.049%	$30.3M	$14.2M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4360	−0.070%	$8.6M	$8.8M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4364	−0.042%	$3.6M	$3.4M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4360	−0.070%	$16.1M	$2.7M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4367	−0.021%	$8.9M	$10.4M	50x	as long as short
Bitget GRAMUSDT	+0.0100%	4h	1.4364	−0.042%	$7.1M	$4.2M	50x	as long as short
edgeX GRAMUSDC	+0.0100%	4h	1.4367	−0.020%	$17K	$273K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4360	−0.070%	$14K	$614K	50x	as long as short
Orderly PERP_GRAM_USDC_mythoslong	+0.0100%	4h	1.4370	long leg	$2K	$1K	10x
SunX GRAM-USDT	+0.0100%	4h	1.4407	+0.257%	$6K	$612K	10x	as long as short
HTX GRAM-USDT	+0.0100%	4h	1.4392	+0.153%	$326K	$677K	30x	as long as short
Phemex GRAMUSDT	+0.0100%	4h	1.4360	−0.070%	$1.5M	$1.8M	20x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4364	−0.043%	$168K	$123K	5x	as long as short
Aster GRAMUSDT	+0.0106%	4h	1.4393	+0.159%	$965K	$127K	50x	as long as short
Lighter GRAM	+0.0304%	1h	1.4374	+0.029%	$2.3M	$2.9M	20x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4380	+0.070%	$1.4M	$232K	50x	as long as short
Backpack GRAM_USDC_PERPshort	+0.0387%	1h	1.4365	−0.035%	$53K	$16K	10x
Hyperliquid GRAM	+0.0522%	1h	1.4381	+0.076%	$35.3M	$7.4M	5x	as long as short