Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0229%/8h= +25.0% APRpaid last 24h +0.031%

Price spread now: Lighter against Aster−0.037%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.037%, 7d avg 0.000%

Together, before fees+0.216%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.037% cheaper against Aster than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of 0.000%). If the spread goes back, that is −$4 on $10k: about 13 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.178% in total) that is about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster DRAMUSDT	61.740	0.0099	pay 0.0099% / 8h	1h 36m	$198K	$36K	20x
Short	Lighter DRAM	61.717	0.0328	get 0.0041% / 1h	36m 23s	$991K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.037%Rate

Funding earned: $48.01
Price spread: −0.037% → 0.000%: −$3.75
Slippage, 4 orders: −$17.93
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $18.33
Costs to cover: 0.259%
Break-even: 4.3 days

Slippage from Aster: live order book, 45 min ago; Lighter: live order book, 5 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 Aster live order book, 45 min ago	4.06 bp	14.8 bp −$15	33.9 bp −$339	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.73 bp	0.7 bp −$1	1.5 bp −$15	39.8 bp −$3,976	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
Gate DRAM_USDT	0.0000%	8h	61.720	−0.032%	$8.2M	$3.5M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.740	0.000%	$762	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.720	−0.032%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.730	−0.016%	$1.8M	$1.3M	10x	as long as short
edgeX DRAMUSDC	+0.0022%	4h	61.745	+0.008%	$153K	$289K	20x	as long as short
Aftermath Perps DRAMUSD	+0.0037%	1h	61.712	−0.045%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.610	−0.211%	—	$797	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	61.684	−0.091%	$254K	$503K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.686	−0.087%	$204K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.728	−0.019%	$2K	$15K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.670	−0.113%	$1.2M	$1.7M	10x	as long as short
QFEX DRAM-USD	+0.0052%	1h	61.680	−0.097%	$1.0M	$77K	10x	as long as short
Aster DRAMUSDTlong	+0.0099%	8h	61.740	long leg	$198K	$36K	20x
Pacifica DRAM	+0.0100%	1h	61.725	−0.025%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.730	−0.016%	$3.0M	$476K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.690	−0.081%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.710	−0.049%	$8K	—	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0103%	8h	61.720	−0.032%	$5.4M	$4.6M	50x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.753	+0.021%	$4K	—	10x	as long as short
Bitget DRAMUSDT	+0.0105%	8h	61.710	−0.049%	$26.0M	$12.5M	20x	as long as short
GRVT DRAM_USDT_Perp	+0.0141%	8h	61.760	+0.032%	$36K	$185K	10x	as long as short
Paradex DRAM-USD-PERP	+0.0166%	8h	61.701	−0.063%	—	—	5x	as long as short
Variational Omni DRAM	+0.0180%	8h	61.728	−0.020%	$2.4M	$949K	—	as long as short
Bybit DRAMUSDT	+0.0206%	8h	61.760	+0.032%	$9.3M	$10.3M	100x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0208%	1h	61.580	−0.259%	$510K	$44K	20x	as long as short
MEXC DRAM_USDT	+0.0231%	8h	61.700	−0.065%	$11.1M	$6.4M	100x	as long as short
Binance DRAMUSDT	+0.0232%	8h	61.710	−0.049%	$43.7M	$82.6M	50x	as long as short
Extended DRAM-USD	+0.0232%	1h	61.709	−0.049%	$102K	$741K	10x	as long as short
RISEx DRAM/USDC	+0.0257%	1h	61.719	−0.034%	$480K	$442K	20x	as long as short
Lighter DRAMshort	+0.0328%	1h	61.717	−0.037%	$991K	$1.2M	20x
tradeXYZ xyz:DRAM	+0.0336%	1h	61.688	−0.084%	$79.2M	$39.5M	20x	as long as short
BloFin DRAM-USDT	+0.0408%	8h	61.750	+0.016%	$294K	$27K	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0561%	1h	61.720	−0.032%	$13K	$9K	20x	as long as short
Arcus DRAM-USD	+0.0649%	1h	61.700	−0.065%	$50K	$92K	10x	as long as short