A symmetrical heterodyne grating interferometer with both a short period and high signal-to-noise ratio is proposed. It possesses good immunity to environmental disturbances and can simultaneously achieve high resolution and stability. The experimental results show that the standard deviation of 24.67 nm can be realized for the long range of 10 mm. The measurement resolution of better than 2 nm is achieved with the theoretical resolution of 12 pm. Additionally, system stability at less than ±1.5 nm is obtained in just over 10 min. The measurement errors, including cosine error, nonlinear error and non-common path error, are discussed as well.