Funding arb · Price arb /

GRAM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.149%

Price spread now: Hyperliquid against Bitget+0.129%7-day average +0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.222%+$22 on $10k

Price spread, last 7 days−0.056%−$6 · spread now +0.129%, 7d avg +0.086%

Together, before fees+0.166%+ Points / potential airdropHyperliquid: Season 2 · farm board+$17 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: Hyperliquid is 0.044% dearer against Bitget than usual: you sell high and buy low, +$4 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	Bitget GRAMUSDT	1.4517	0.0100	pay 0.0050% / 4h	2h 47m	$7.2M	$3.7M	50x
Short	Hyperliquid GRAM	1.4536	0.0100	get 0.0013% / 1h	47m 36s	$35.9M	$6.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.129%Rate

Funding earned: $0
Price spread: +0.129% → +0.086%: $4.36
Slippage, 4 orders: −$21.15
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$37.79
Costs to cover: 0.422%
Break-even: never at this rate

Slippage from Bitget: live order book, 6 min ago; Hyperliquid: live order book, 6 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 Bitget live order book, 6 min ago	2.76 bp	12.1 bp −$12	24.6 bp −$246	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.34 bp	8.5 bp −$8	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
Paradex GRAM-USD-PERP	+0.0100%	8h	1.4517	−0.001%	$2K	$30	5x	as long as short
Hyperliquid GRAMshort	+0.0100%	1h	1.4536	+0.129%	$35.9M	$6.8M	5x
Binance GRAMUSDT	+0.0100%	4h	1.4514	−0.021%	$20.8M	$25.7M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4520	+0.021%	$30.6M	$13.9M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4510	−0.048%	$8.6M	$8.3M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4520	+0.021%	$3.7M	$3.2M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4520	+0.021%	$15.3M	$2.8M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4512	−0.034%	$8.7M	$10.9M	50x	as long as short
Bitget GRAMUSDTlong	+0.0100%	4h	1.4517	long leg	$7.2M	$3.7M	50x
Backpack GRAM_USDC_PERP	+0.0100%	1h	1.4523	+0.041%	$44K	$12K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX GRAMUSDC	+0.0100%	4h	1.4512	−0.037%	$17K	$270K	10x	as long as short
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4510	−0.048%	$13K	$586K	50x	as long as short
Orderly PERP_GRAM_USDC_mythos	+0.0100%	4h	1.4520	+0.021%	$2K	$1K	10x	as long as short
SunX GRAM-USDT	+0.0100%	4h	1.4526	+0.062%	$7K	$571K	10x	as long as short
Phemex GRAMUSDT	+0.0100%	4h	1.4520	+0.021%	$1.6M	$1.7M	20x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4513	−0.030%	$150K	$103K	5x	as long as short
Injective GRAM/USDC PERP	+0.0132%	1h	1.4540	+0.158%	$4K	$121K	12x	as long as short
Aster GRAMUSDT	+0.0235%	4h	1.4540	+0.158%	$967K	$99K	50x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4500	−0.117%	$1.4M	$210K	50x	as long as short
Lighter GRAM	+0.0720%	1h	1.4553	+0.250%	$2.7M	$2.5M	20x	as long as short
HTX GRAM-USDT	+0.1341%	4h	1.4591	+0.510%	$338K	$628K	30x	as long as short