Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0176%/8h= −19.3% APRpaid last 24h −0.045%

Price spread now: Phemex against Coinbase International+0.115%7-day average +0.161% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1291.291% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.354%−$35 on $10k

Price spread, last 4 days (all we have)−0.193%−$19 · spread now +0.115%, 7d avg +0.161%

Together, before fees−0.547%−$55 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phemex is 0.047% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.161%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International DRAM-PERP-INTX	60.910	0.0176	pay 0.0022% / 1h	38m 44s	$523K	$75K	20x
Short	Phemex DRAMUSDT	60.980	0	get 0.0000% / 8h	38m 44s	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. 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 Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$36.96
Price spread: +0.115% → +0.161%: −$4.65
Slippage, 4 orders: −$107.1
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$170.71
Costs to cover: 1.291%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 64 min ago; Phemex: 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 Coinbase International live order book, 64 min ago	4.91 bp	11.3 bp −$11	14.0 bp −$140	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.64 bp	53.7 bp −$54	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	−0.0747%	8h	61.030	+0.197%	$26.4M	$15.0M	20x	as long as short
Aster DRAMUSDT	0.0000%	8h	60.995	+0.140%	$196K	$35K	20x	as long as short
Bybit DRAMUSDT	0.0000%	8h	61.030	+0.197%	$9.5M	$10.3M	100x	as long as short
RISEx DRAM/USDC	0.0000%	1h	60.970	+0.099%	$422K	$344K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	61.050	+0.230%	$8.0M	$3.7M	75x	as long as short
Variational Omni DRAM	0.0000%	8h	61.033	+0.202%	$2.3M	$582K	—	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	61.030	+0.197%	$36K	$205K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	60.980	+0.115%	$642	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	60.990	+0.131%	$27K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	60.980	+0.115%	$1.7M	$1.3M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX DRAM-USDT-SWAP	+0.0007%	8h	61.000	+0.148%	$5.4M	$6.0M	50x	as long as short
edgeX DRAMUSDC	+0.0009%	4h	61.029	+0.196%	$148K	$298K	20x	as long as short
BloFin DRAM-USDT	+0.0032%	8h	61.000	+0.148%	$297K	$26K	20x	as long as short
Aftermath Perps DRAMUSD	+0.0034%	1h	60.972	+0.102%	$1K	$30K	5x	as long as short
Binance DRAMUSDT	+0.0034%	8h	60.990	+0.131%	$43.7M	$88.7M	50x	as long as short
MEXC DRAM_USDT	+0.0036%	8h	60.980	+0.115%	$7.7M	$5.7M	100x	as long as short
Extended DRAM-USD	+0.0040%	1h	60.974	+0.105%	$77K	$196K	10x	as long as short
Arcus DRAM-USD	+0.0040%	1h	60.960	+0.082%	$47K	$67K	10x	as long as short
QFEX DRAM-USD	+0.0040%	1h	60.980	+0.115%	$993K	$84K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	60.960	+0.082%	—	—	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	60.947	+0.061%	$179K	$480K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	60.955	+0.074%	$253K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	60.980	+0.115%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	60.960	+0.082%	$1.1M	$3.5M	10x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0078%	1h	60.960	+0.082%	$13K	$3K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	60.999	+0.146%	$73K	$38K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	60.970	+0.099%	$3.0M	$422K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.040	+0.213%	$21K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	60.980	+0.115%	$8K	—	10x	as long as short
Paradex DRAM-USD-PERP	+0.0101%	8h	60.986	+0.125%	—	—	5x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	60.970	+0.098%	$4K	—	10x	as long as short
Coinbase International DRAM-PERP-INTXlong	+0.0176%	1h	60.910	long leg	$523K	$75K	20x
tradeXYZ xyz:DRAM	+0.0194%	1h	60.980	+0.115%	$78.9M	$35.9M	20x	as long as short
Lighter DRAM	+0.0352%	1h	61.007	+0.159%	$1.1M	$1.2M	20x	as long as short