Funding arb · Price arb /

GRAM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.069%

Price spread now: BloFin against Backpack−0.082%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on BloFin

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. BloFin is 0.082% cheaper against Backpack than usual: you would sell low and buy high (spread −0.082% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 27 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack GRAM_USDC_PERP	1.4562	0.0100	pay 0.0013% / 1h	22m 31s	$46K	$13K	10x
Short	BloFin GRAM-USDT	1.4550	0.0340	get 0.0170% / 4h	2h 22m	$1.4M	$210K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Backpack. 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 BackpackbpFee BloFinbpOrdersPrice spread, now −0.082%Rate

Funding earned: $50.4
Price spread: −0.082% → 0.000%: −$8.24
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $20.16
Costs to cover: 0.220%
Break-even: 4.2 days

Slippage unknown: Backpack: no order-book sample; BloFin: live order book, 5 min ago. 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 Backpack no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	3.44 bp	37.0 bp −$37	51.2 bp −$512	182.2 bp −$18.2K	doesn't fit

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
Paradex GRAM-USD-PERP	+0.0097%	8h	1.4561	−0.004%	$2K	$30	5x	as long as short
Hyperliquid GRAM	+0.0100%	1h	1.4582	+0.137%	$35.9M	$6.9M	5x	as long as short
Binance GRAMUSDT	+0.0100%	4h	1.4566	+0.027%	$20.6M	$26.6M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4567	+0.034%	$30.8M	$14.0M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4550	−0.082%	$8.7M	$8.5M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4566	+0.027%	$3.7M	$3.3M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4560	−0.014%	$15.5M	$2.8M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4563	+0.007%	$8.6M	$11.0M	50x	as long as short
Bitget GRAMUSDT	+0.0100%	4h	1.4566	+0.027%	$7.2M	$3.9M	50x	as long as short
Backpack GRAM_USDC_PERPlong	+0.0100%	1h	1.4562	long leg	$46K	$13K	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX GRAMUSDC	+0.0100%	4h	1.4498	−0.437%	$17K	$269K	10x	as long as short
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4520	−0.288%	$13K	$590K	50x	as long as short
Orderly PERP_GRAM_USDC_mythos	+0.0100%	4h	1.4550	−0.082%	$2K	$1K	10x	as long as short
SunX GRAM-USDT	+0.0100%	4h	1.4576	+0.096%	$6K	$588K	10x	as long as short
Phemex GRAMUSDT	+0.0100%	4h	1.4550	−0.082%	$1.6M	$1.7M	20x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4561	−0.005%	$150K	$103K	5x	as long as short
Injective GRAM/USDC PERP	+0.0132%	1h	1.4490	−0.494%	$4K	$143K	12x	as long as short
Aster GRAMUSDT	+0.0253%	4h	1.4582	+0.140%	$970K	$101K	50x	as long as short
BloFin GRAM-USDTshort	+0.0340%	4h	1.4550	−0.082%	$1.4M	$210K	50x
Lighter GRAM	+0.0824%	1h	1.4595	+0.225%	$2.8M	$2.5M	20x	as long as short
HTX GRAM-USDT	+0.1224%	4h	1.4601	+0.268%	$338K	$628K	30x	as long as short