Funding you earn now, next payment 08:00 UTC−0.0203%/8h= −22.2% APRnext payment −$2.03 per $10,000 · paid last 24h −0.050%
Price spread now: Phemex against Bybit−0.054%7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$100as in the Funding arb table
Net, price: spread back to 7d avg − costs−$94as in the Price arb table
costs, in and out, $10k−$900.900% of the position
Funding, last 7 days−0.100%−$10 on $10k
+Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.054%, 7d avg −0.015%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Phemex is 0.039% cheaper against Bybit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.015%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.100% in total (about -5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.03 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit DRAMUSDT | 62.494 | 0.0203 | pay 0.0203% / 8h | 4h 40m | $9.7M | $9.8M | 100x |
| Short | Phemex DRAMUSDT | 62.460 | 0 | get 0.0000% / 8h | 4h 40m | $1.7M | $1.3M | 10x |
Bybit DRAMUSDT
Phemex DRAMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$42.59
- Price spread: −0.054% → −0.015%
- −$3.9
- Slippage, 4 orders
- −$67.03
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$136.52
- Costs to cover
- 0.900%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; Phemex: live order book, 3 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 Bybit live order book, 3 min ago | 0.80 bp | 7.3 bp −$7 | 13.4 bp −$134 | 118.9 bp −$11.9K | doesn't fit |
| Sell Phemex live order book, 3 min ago | 1.60 bp | 35.9 bp −$36 | 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 | 62.454 | −0.063% | $442K | $501K | 20x | as long as short |
| SunX DRAM-USDT | 0.0000% | 8h | 62.460 | −0.054% | $635 | $2.7M | 10x | as long as short |
| HTX DRAM-USDT | 0.0000% | 8h | 62.390 | −0.166% | $28K | $3K | 20x | as long as short |
| Phemex DRAMUSDTshort | 0.0000% | 8h | 62.460 | −0.054% | $1.7M | $1.3M | 10x | |
| Aftermath Perps DRAMUSD | +0.0024% | 1h | 62.390 | −0.167% | $1K | $32K | 5x | as long as short |
| Lighter DRAM | +0.0032% | 1h | 62.448 | −0.074% | $970K | $1.0M | 20x | as long as short |
| edgeX DRAMUSDC | +0.0040% | 4h | 62.437 | −0.092% | $151K | $296K | 20x | as long as short |
| Arcus DRAM-USD | +0.0040% | 1h | 62.360 | −0.214% | $51K | $79K | 10x | as long as short |
| Vest DRAM-USD-PERP | +0.0046% | 1h | 62.410 | −0.134% | — | — | 10x | as long as short |
| Polymarket Perps DRAM-USD | +0.0050% | 1h | 62.416 | −0.125% | $267K | $1.3M | 10x | as long as short |
RISEx DRAM/USDC
SunX DRAM-USDT
HTX DRAM-USDT
Aftermath Perps DRAMUSD
Lighter DRAM
edgeX DRAMUSDC
Arcus DRAM-USD
Vest DRAM-USD-PERP
Polymarket Perps DRAM-USDShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX DRAM-USD | +0.0050% | 1h | 62.456 | −0.061% | $2K | $15K | 20x | as long as short |
| Ondo Perps DRAM-USD.P | +0.0050% | 1h | 62.400 | −0.150% | $1.1M | $2.2M | 10x | as long as short |
| QFEX DRAM-USD | +0.0052% | 1h | 62.440 | −0.086% | $1.0M | $78K | 10x | as long as short |
| GRVT DRAM_USDT_Perp | +0.0081% | 8h | 62.402 | −0.147% | $37K | $167K | 10x | as long as short |
| Paradex DRAM-USD-PERP | +0.0097% | 8h | 62.451 | −0.069% | — | — | 5x | as long as short |
| Pacifica DRAM | +0.0100% | 1h | 62.463 | −0.049% | $76K | $44K | 10x | as long as short |
| KuCoin DRAMUSDTM | +0.0100% | 8h | 62.430 | −0.102% | $3.0M | $393K | 20x | as long as short |
| ApeX Omni DRAMUSDT | +0.0100% | 1h | 62.390 | −0.166% | $22K | $186K | 50x | as long as short |
| Orderly PERP_DRAM_USDC_mythos | +0.0100% | 8h | 62.470 | −0.038% | $9K | — | 10x | as long as short |
| Aevo DRAM-PERP | +0.0104% | 1h | 62.467 | −0.044% | $4K | — | 10x | as long as short |
| tradeXYZ xyz:DRAM | +0.0107% | 1h | 62.430 | −0.102% | $81.8M | $35.6M | 20x | as long as short |
| Bitget DRAMUSDT | +0.0107% | 8h | 62.460 | −0.054% | $26.3M | $13.2M | 20x | as long as short |
| OKX DRAM-USDT-SWAP | +0.0142% | 8h | 62.470 | −0.038% | $5.5M | $4.5M | 50x | as long as short |
| Coinbase International DRAM-PERP-INTX | +0.0152% | 1h | 62.330 | −0.262% | $535K | $75K | 20x | as long as short |
| Entropy io:DRAM | +0.0167% | 1h | 62.410 | −0.134% | $215K | $428K | 25x | as long as short |
| Bybit DRAMUSDTlong | +0.0203% | 8h | 62.494 | long leg | $9.7M | $9.8M | 100x | |
| Deribit DRAM_USDC-PERPETUAL | +0.0231% | 1h | 62.440 | −0.086% | $13K | $3K | 20x | as long as short |
| Aster DRAMUSDT | +0.0313% | 8h | 62.473 | −0.034% | $201K | $35K | 20x | as long as short |
| Variational Omni DRAM | +0.0393% | 8h | 62.463 | −0.049% | $2.4M | $753K | — | as long as short |
| Binance DRAMUSDT | +0.0430% | 8h | 62.460 | −0.054% | $45.0M | $80.4M | 50x | as long as short |
| MEXC DRAM_USDT | +0.0431% | 8h | 62.450 | −0.070% | $9.2M | $5.4M | 100x | as long as short |
| Extended DRAM-USD | +0.0432% | 1h | 62.444 | −0.080% | $75K | $636K | 10x | as long as short |
| BloFin DRAM-USDT | +0.0575% | 8h | 62.450 | −0.070% | $302K | $26K | 20x | as long as short |
| Gate DRAM_USDT | +0.0613% | 8h | 62.490 | −0.006% | $8.2M | $3.5M | 75x | as long as short |
SoDEX DRAM-USD
Ondo Perps DRAM-USD.P
QFEX DRAM-USD
GRVT DRAM_USDT_Perp
Paradex DRAM-USD-PERP
Pacifica DRAM
KuCoin DRAMUSDTM
ApeX Omni DRAMUSDT
Orderly PERP_DRAM_USDC_mythos
Aevo DRAM-PERP
tradeXYZ xyz:DRAM
Bitget DRAMUSDT
OKX DRAM-USDT-SWAP
Coinbase International DRAM-PERP-INTX
Entropy io:DRAM
Deribit DRAM_USDC-PERPETUAL
Aster DRAMUSDT
Variational Omni DRAM
Binance DRAMUSDT
MEXC DRAM_USDT
Extended DRAM-USD
BloFin DRAM-USDT
Gate DRAM_USDT