GRAM arbitrage explained
Right now Gram (prev. Toncoin) (GRAM) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Hyperliquid perp at $1.42 and the highest bid on Bybit spot at $1.42.
The widest GRAM perpetual spread is between Hyperliquid and Bitget: long GRAM on Hyperliquid at $1.42 and short on Bitget at $1.42 for +0.04% gross, or -0.12% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.196% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best GRAM route is to buy spot on Gate and short the perpetual on Bitget: -0.03% gross, -0.23% net, with +0.030% a day of funding on the short leg.
Spot–spot GRAM arbitrage (buy on Gate, withdraw, deposit and sell on Bybit) shows +0.01% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small GRAM gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: GRAM funding rates · GRAM spread charts · Gram (prev. Toncoin) price · arbitrage scanner for all coins.