Funding arb · Price arb /

GRAM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Orderly against Backpack−0.083%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 Orderly

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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.083% cheaper against Backpack than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack GRAM_USDC_PERP	1.4482	0.0100	pay 0.0013% / 1h	33m 48s	$45K	$13K	10x
Short	Orderly PERP_GRAM_USDC_mythos	1.4470	0.0100	get 0.0050% / 4h	1h 33m	$2K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.083%Rate

Funding earned: $0
Price spread: −0.083% → 0.000%: −$8.29
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$24.29
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; Orderly: 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 Backpack no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Backpack and Orderly: 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	−0.0387%	1h	1.4490	+0.055%	$4K	$143K	12x	as long as short
Paradex GRAM-USD-PERP	+0.0099%	8h	1.4479	−0.022%	$2K	$30	5x	as long as short
Binance GRAMUSDT	+0.0100%	4h	1.4489	+0.049%	$20.5M	$26.8M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4477	−0.035%	$30.6M	$14.0M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4470	−0.083%	$8.6M	$8.4M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4486	+0.028%	$3.7M	$3.2M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4480	−0.014%	$15.4M	$2.8M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4480	−0.014%	$8.6M	$10.9M	50x	as long as short
Bitget GRAMUSDT	+0.0100%	4h	1.4483	+0.007%	$7.1M	$3.8M	50x	as long as short
Backpack GRAM_USDC_PERPlong	+0.0100%	1h	1.4482	long leg	$45K	$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	1.4499	+0.115%	$17K	$271K	10x	as long as short
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4520	+0.262%	$13K	$589K	50x	as long as short
Orderly PERP_GRAM_USDC_mythosshort	+0.0100%	4h	1.4470	−0.083%	$2K	$1K	10x
SunX GRAM-USDT	+0.0100%	4h	1.4526	+0.304%	$7K	$590K	10x	as long as short
Phemex GRAMUSDT	+0.0100%	4h	1.4470	−0.083%	$1.6M	$1.7M	20x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4471	−0.075%	$169K	$123K	5x	as long as short
Aster GRAMUSDT	+0.0224%	4h	1.4505	+0.158%	$965K	$98K	50x	as long as short
Hyperliquid GRAM	+0.0280%	1h	1.4499	+0.117%	$35.8M	$6.9M	5x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4500	+0.124%	$1.4M	$210K	50x	as long as short
HTX GRAM-USDT	+0.0544%	4h	1.4552	+0.483%	$337K	$621K	30x	as long as short
Lighter GRAM	+0.0656%	1h	1.4512	+0.211%	$2.7M	$2.3M	20x	as long as short