The league punished Frye on Tuesday for throwing a punch. Granger was penalized for fighting with Frye in the final minute of the third quarter in the Suns' 113-105 victory.
Also, the Pacers' Earl Watson was fined $30,000 for instigating and adding to the escalation of an on-court incident. Indiana's Roy Hibbert and the Suns' Jason Richardson were each fined $25,000 for adding to the escalation of an on-court incident.
Granger sat out Tuesday against Philadelphia. Frye will miss the Suns' game against the Lakers on Friday.