Charles Spurgeon said, "All you can receive, and all you ever ought to hope for, must be through the covenant of free grace." To understand what God gives every believer, you must understand grace. God has sworn with an oath of promise to give us salvation by grace in Christ (Hebrews 7:21-25). God's free grace is the gift of God. What God's grace gives you is received believing on the Lord Jesus Christ.
Free grace is through the everlasting covenant of Christ (Hebrews 13:20-21). The covenant is summarized in four promises to every believer (Hebrews 8:10-12). First, God will put his laws in your mind and heart. Second, each one will know God in a personal relationship. Third, God will be merciful unto you. Fourth, God will remember your sins no more.
Free grace is in Christ as our covenant surety (Hebrews 7:20-22). God always works through covenant. He tells what he is doing and what he shall do. Covenant is an agreement or contract that includes God's everlasting promises are to every believer, guaranteed through Christ Jesus our covenant surety.
Free grace is through the everlasting gospel of our Lord Jesus Christ (Revelation 14:6). That is God's covenant of grace in Christ. It is based on the merits and righteousness of Christ alone to every believer (2 Corinthians 5:21). It is freely given by grace alone through faith in Christ, because it is the gift of God and not of our works (Ephesians 2:8-9).