Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: Phemex against Bitget−0.113%46s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as 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−$1141.136% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.113%, 7d avg −0.012%

Together, before fees−0.001%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.101% cheaper against Bitget than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.012%. The two prices were read 46 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	Bitget DRAMUSDT	61.690	0	get 0.0000% / 8h	2h 56m	$26.0M	$13.8M	20x
Short	Phemex DRAMUSDT	61.620	0	get 0.0000% / 8h	2h 56m	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now −0.113%Rate

Funding earned: $0
Price spread: −0.113% → −0.012%: −$10.1
Slippage, 4 orders: −$89.58
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$123.68
Costs to cover: 1.136%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 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 Bitget live order book, 2 min ago	0.81 bp	8.0 bp −$8	13.4 bp −$134	28.0 bp −$2,798	63.9 bp −$32.0K
Sell Phemex live order book, 2 min ago	2.44 bp	53.2 bp −$53	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
RISEx DRAM/USDC	0.0000%	1h	61.664	−0.041%	$434K	$501K	20x	as long as short
Bitget DRAMUSDTlong	0.0000%	8h	61.690	long leg	$26.0M	$13.8M	20x
GRVT DRAM_USDT_Perp	0.0000%	8h	61.490	−0.324%	$36K	$190K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.620	−0.113%	$954	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.490	−0.324%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	61.620	−0.113%	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0024%	1h	61.520	−0.276%	$1K	$31K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	61.530	−0.259%	$48K	$77K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.620	−0.113%	—	—	10x	as long as short
QFEX DRAM-USD	+0.0050%	1h	61.660	−0.049%	$1.0M	$84K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps DRAM-USD	+0.0050%	1h	61.646	−0.071%	$259K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.560	−0.211%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.610	−0.130%	$1.1M	$2.5M	10x	as long as short
edgeX DRAMUSDC	+0.0056%	4h	61.479	−0.342%	$149K	$299K	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0056%	8h	61.690	0.000%	$5.4M	$4.7M	50x	as long as short
Bybit DRAMUSDT	+0.0065%	8h	61.705	+0.024%	$9.5M	$10.0M	100x	as long as short
Pacifica DRAM	+0.0100%	1h	61.610	−0.130%	$74K	$49K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.600	−0.146%	$3.0M	$400K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.510	−0.292%	$21K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.600	−0.146%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.607	−0.135%	$4K	—	10x	as long as short
Paradex DRAM-USD-PERP	+0.0112%	8h	61.643	−0.077%	—	—	5x	as long as short
Aster DRAMUSDT	+0.0115%	8h	61.657	−0.053%	$198K	$35K	20x	as long as short
Entropy io:DRAM	+0.0162%	1h	61.560	−0.211%	$170K	$466K	25x	as long as short
Variational Omni DRAM	+0.0175%	8h	61.464	−0.366%	$2.4M	$618K	—	as long as short
Coinbase International DRAM-PERP-INTX	+0.0184%	1h	61.510	−0.292%	$528K	$74K	20x	as long as short
BloFin DRAM-USDT	+0.0204%	8h	61.560	−0.211%	$301K	$26K	20x	as long as short
MEXC DRAM_USDT	+0.0228%	8h	61.650	−0.065%	$9.0M	$5.5M	100x	as long as short
Binance DRAMUSDT	+0.0228%	8h	61.684	−0.009%	$44.2M	$83.0M	50x	as long as short
Extended DRAM-USD	+0.0232%	1h	61.648	−0.068%	$74K	$241K	10x	as long as short
Lighter DRAM	+0.0264%	1h	61.654	−0.058%	$1.1M	$1.2M	20x	as long as short
tradeXYZ xyz:DRAM	+0.0271%	1h	61.636	−0.088%	$80.2M	$35.7M	20x	as long as short
Gate DRAM_USDT	+0.0285%	8h	61.690	0.000%	$8.1M	$3.6M	75x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0562%	1h	61.610	−0.130%	$13K	$3K	20x	as long as short