Funding arb · Price arb /

GRAM

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Backpack against Orderly+0.214%46s7-day average — · you sell dearer than you buy

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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.214% dearer against Orderly than usual: you sell high and buy low, +$21 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 46 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	Orderly PERP_GRAM_USDC_mythos	1.4500	0.0100	pay 0.0050% / 4h	52m 17s	$2K	$1K	10x
Short	Backpack GRAM_USDC_PERP	1.4531	0.0100	get 0.0013% / 1h	52m 17s	$44K	$15K	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 +0.214%Rate

Funding earned: $0
Price spread: +0.214% → 0.000%: $21.38
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: $5.38
Costs to cover: 0.160%
Break-even: from the start

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	−0.069%	$4K	$143K	12x	as long as short
Paradex GRAM-USD-PERP	+0.0100%	8h	1.4508	+0.058%	$2K	$30	5x	as long as short
Hyperliquid GRAM	+0.0100%	1h	1.4525	+0.172%	$35.7M	$7.0M	5x	as long as short
Binance GRAMUSDT	+0.0100%	4h	1.4500	+0.003%	$20.5M	$26.9M	50x	as long as short
Bybit GRAMUSDT	+0.0100%	4h	1.4500	0.000%	$30.7M	$13.9M	50x	as long as short
OKX GRAM-USDT-SWAP	+0.0100%	4h	1.4490	−0.069%	$8.6M	$8.5M	50x	as long as short
Gate GRAM_USDT	+0.0100%	4h	1.4515	+0.103%	$3.7M	$3.2M	75x	as long as short
MEXC GRAM_USDT	+0.0100%	4h	1.4500	0.000%	$15.4M	$2.7M	20x	as long as short
KuCoin GRAMUSDTM	+0.0100%	4h	1.4518	+0.124%	$9.0M	$10.9M	50x	as long as short
Bitget GRAMUSDT	+0.0100%	4h	1.4503	+0.021%	$7.1M	$3.9M	50x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack GRAM_USDC_PERPshort	+0.0100%	1h	1.4531	+0.214%	$44K	$15K	10x
edgeX GRAMUSDC	+0.0100%	4h	1.4502	+0.017%	$17K	$271K	10x	as long as short
ApeX Omni GRAMUSDT	+0.0100%	1h	1.4500	0.000%	$13K	$590K	50x	as long as short
Orderly PERP_GRAM_USDC_mythoslong	+0.0100%	4h	1.4500	long leg	$2K	$1K	10x
SunX GRAM-USDT	+0.0100%	4h	1.4526	+0.179%	$7K	$594K	10x	as long as short
Phemex GRAMUSDT	+0.0100%	4h	1.4520	+0.138%	$1.6M	$1.7M	20x	as long as short
Extended GRAM-USD	+0.0104%	1h	1.4499	−0.010%	$169K	$123K	5x	as long as short
Aster GRAMUSDT	+0.0151%	4h	1.4515	+0.102%	$966K	$99K	50x	as long as short
HTX GRAM-USDT	+0.0305%	4h	1.4554	+0.372%	$336K	$628K	30x	as long as short
BloFin GRAM-USDT	+0.0340%	4h	1.4490	−0.069%	$1.4M	$215K	50x	as long as short
Lighter GRAM	+0.0704%	1h	1.4545	+0.310%	$2.7M	$2.3M	20x	as long as short