Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0606%/8h= −66.3% APRpaid last 24h −0.063%

Price spread now: QFEX against BloFin−0.065%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.118%−$12 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.065%, 7d avg −0.006%

Together, before fees−0.047%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and QFEX is 0.059% cheaper against BloFin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.118% in total (about -11.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin DRAM-USDT	61.220	0.0662	pay 0.0662% / 8h	5h 27m	$307K	$27K	20x
Short	QFEX DRAM-USD	61.180	0.0057	get 0.0007% / 1h	27m 53s	$999K	$98K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against BloFin. 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 BloFinbpFee QFEXbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$127.24
Price spread: −0.065% → −0.006%: −$5.94
Slippage, 4 orders: −$8.81
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$163.99
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from BloFin: live order book, 12 min ago; QFEX: live order book, 4 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 BloFin live order book, 12 min ago	0.81 bp	7.6 bp −$8	12.2 bp −$122	39.8 bp −$3,978	doesn't fit
Sell QFEX live order book, 4 min ago	2.45 bp	7.5 bp −$7	8.6 bp −$86	12.4 bp −$1,239	doesn't fit

DRAM on 34 exchanges

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
Bybit DRAMUSDT	0.0000%	8h	61.233	+0.021%	$9.5M	$11.2M	100x	as long as short
Bitget DRAMUSDT	0.0000%	8h	61.200	−0.033%	$26.8M	$17.2M	20x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.190	−0.049%	$696	$2.4M	10x	as long as short
Deribit DRAM_USDC-PERPETUAL	0.0000%	1h	61.180	−0.065%	$13K	$3K	20x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.200	−0.033%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.190	−0.049%	$1.7M	$1.3M	10x	as long as short
Aftermath Perps DRAMUSD	+0.0029%	1h	61.175	−0.074%	$1K	$26K	5x	as long as short
edgeX DRAMUSDC	+0.0036%	4h	61.179	−0.066%	$148K	$300K	20x	as long as short
Lighter DRAM	+0.0040%	1h	61.177	−0.070%	$1.1M	$1.4M	20x	as long as short
Arcus DRAM-USD	+0.0040%	1h	61.150	−0.114%	$59K	$81K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest DRAM-USD-PERP	+0.0046%	1h	61.100	−0.196%	—	—	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.175	−0.074%	$255K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.178	−0.069%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.140	−0.131%	$1.1M	$3.6M	10x	as long as short
QFEX DRAM-USDshort	+0.0057%	1h	61.180	−0.065%	$999K	$98K	10x
Gate DRAM_USDT	+0.0092%	8h	61.230	+0.016%	$7.9M	$3.8M	75x	as long as short
Pacifica DRAM	+0.0100%	1h	61.173	−0.077%	$75K	$31K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.180	−0.065%	$3.0M	$416K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.230	+0.016%	$21K	$186K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.200	−0.033%	$8K	—	10x	as long as short
Paradex DRAM-USD-PERP	+0.0102%	8h	61.185	−0.058%	—	—	5x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.192	−0.045%	$4K	—	10x	as long as short
tradeXYZ xyz:DRAM	+0.0112%	1h	61.165	−0.090%	$79.3M	$38.9M	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0162%	8h	61.230	+0.016%	$5.5M	$6.7M	50x	as long as short
Aster DRAMUSDT	+0.0192%	8h	61.213	−0.011%	$195K	$28K	20x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0232%	1h	61.330	+0.180%	$537K	$91K	20x	as long as short
Variational Omni DRAM	+0.0237%	8h	61.191	−0.048%	$2.2M	$696K	—	as long as short
Extended DRAM-USD	+0.0280%	1h	61.180	−0.066%	$98K	$299K	10x	as long as short
Binance DRAMUSDT	+0.0284%	8h	61.201	−0.030%	$44.3M	$98.7M	50x	as long as short
MEXC DRAM_USDT	+0.0285%	8h	61.200	−0.033%	$9.0M	$5.4M	100x	as long as short
GRVT DRAM_USDT_Perp	+0.0489%	8h	61.202	−0.030%	$36K	$225K	10x	as long as short
RISEx DRAM/USDC	+0.0600%	1h	61.191	−0.047%	$460K	$369K	20x	as long as short
BloFin DRAM-USDTlong	+0.0662%	8h	61.220	long leg	$307K	$27K	20x
Entropy io:DRAM	+0.0699%	1h	61.159	−0.100%	$309K	$1.7M	25x	as long as short