Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against ApeX Omni−0.342%77s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1801.799% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.205%−$20 on $10k

Price spread, last 4 days (all we have)+0.308%+$31 · spread now −0.342%, 7d avg −0.012%

Together, before fees+0.103%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.330% cheaper against ApeX Omni than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.012%). Swap the legs. The two prices were read 77 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	ApeX Omni DRAMUSDT	61.490	0.0100	pay 0.0013% / 1h	56m 03s	$21K	$186K	50x
Short	Phemex DRAMUSDT	61.280	0	get 0.0000% / 8h	1h 56m	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX Omni. 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now −0.342%Rate

Funding earned: −$21
Price spread: −0.342% → −0.012%: −$32.98
Slippage, 4 orders: −$157.94
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$233.92
Costs to cover: 1.799%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 50 min ago; Phemex: live order book, 2 min ago.

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 ApeX Omni live order book, 50 min ago	27.58 bp	39.2 bp −$39	199.0 bp −$1,990	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	5.70 bp	47.1 bp −$47	doesn't fit	doesn't fit	doesn't fit

DRAM on 34 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
Bitget DRAMUSDT	−0.0429%	8h	61.300	−0.309%	$26.0M	$14.5M	20x	as long as short
RISEx DRAM/USDC	0.0000%	1h	61.291	−0.323%	$425K	$506K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	61.330	−0.260%	$8.0M	$3.7M	75x	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	61.460	−0.049%	$36K	$197K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.280	−0.342%	$617	$2.6M	10x	as long as short
Deribit DRAM_USDC-PERPETUAL	0.0000%	1h	61.280	−0.342%	$13K	$3K	20x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.240	−0.407%	$27K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	61.280	−0.342%	$1.7M	$1.3M	10x
Bybit DRAMUSDT	+0.0004%	8h	61.308	−0.296%	$9.4M	$10.3M	100x	as long as short
Aftermath Perps DRAMUSD	+0.0028%	1h	61.346	−0.234%	$1K	$31K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX DRAM-USDT-SWAP	+0.0038%	8h	61.290	−0.325%	$5.4M	$5.7M	50x	as long as short
QFEX DRAM-USD	+0.0039%	1h	61.290	−0.325%	$998K	$84K	10x	as long as short
Arcus DRAM-USD	+0.0040%	1h	61.360	−0.211%	$48K	$69K	10x	as long as short
Aster DRAMUSDT	+0.0045%	8h	61.301	−0.308%	$197K	$35K	20x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.290	−0.325%	—	—	10x	as long as short
edgeX DRAMUSDC	+0.0049%	4h	61.407	−0.136%	$149K	$297K	20x	as long as short
Entropy io:DRAM	+0.0050%	1h	61.321	−0.275%	$169K	$471K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.265	−0.366%	$255K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.285	−0.333%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.370	−0.195%	$1.1M	$3.4M	10x	as long as short
Lighter DRAM	+0.0080%	1h	61.286	−0.332%	$1.1M	$1.1M	20x	as long as short
tradeXYZ xyz:DRAM	+0.0084%	1h	61.257	−0.379%	$79.3M	$36.2M	20x	as long as short
Variational Omni DRAM	+0.0097%	8h	61.464	−0.043%	$2.3M	$669K	—	as long as short
Pacifica DRAM	+0.0100%	1h	61.279	−0.344%	$73K	$46K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.270	−0.358%	$3.0M	$413K	20x	as long as short
ApeX Omni DRAMUSDTlong	+0.0100%	1h	61.490	long leg	$21K	$186K	50x
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.290	−0.325%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.280	−0.342%	$4K	—	10x	as long as short
Paradex DRAM-USD-PERP	+0.0110%	8h	61.292	−0.322%	—	—	5x	as long as short
Binance DRAMUSDT	+0.0149%	8h	61.281	−0.340%	$43.9M	$87.1M	50x	as long as short
MEXC DRAM_USDT	+0.0149%	8h	61.270	−0.358%	$8.0M	$5.6M	100x	as long as short
Extended DRAM-USD	+0.0152%	1h	61.268	−0.362%	$74K	$190K	10x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0160%	1h	61.110	−0.618%	$525K	$75K	20x	as long as short
BloFin DRAM-USDT	+0.0163%	8h	61.400	−0.146%	$299K	$26K	20x	as long as short