Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0398%/8h= −43.6% APRpaid last 24h −0.096%

Price spread now: Phemex against Deribit+0.032%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.032% dearer against Deribit than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit DRAM_USDC-PERPETUAL	61.740	0.0398	pay 0.0050% / 1h	25m 26s	$13K	$9K	20x
Short	Phemex DRAMUSDT	61.760	0	get 0.0000% / 8h	1h 25m	$1.8M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Deribit. 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 DeribitbpFee PhemexbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$83.64
Price spread: +0.032% → 0.000%: $3.24
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$99.4
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Phemex: live order book, 3 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	0.81 bp	62.1 bp −$62	doesn't fit	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	61.800	+0.097%	$8.2M	$3.5M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.760	+0.032%	$701	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.760	+0.032%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	61.760	+0.032%	$1.8M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0037%	1h	61.730	−0.016%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.660	−0.130%	—	$797	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	61.669	−0.115%	$254K	$505K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.759	+0.031%	$204K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.760	+0.032%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.700	−0.065%	$1.2M	$1.7M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX DRAM-USD	+0.0052%	1h	61.750	+0.016%	$1.0M	$77K	10x	as long as short
edgeX DRAMUSDC	+0.0055%	4h	61.775	+0.056%	$153K	$288K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.726	−0.023%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.760	+0.032%	$3.0M	$476K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.830	+0.146%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.760	+0.032%	$8K	—	10x	as long as short
Aster DRAMUSDT	+0.0102%	8h	61.740	0.000%	$198K	$36K	20x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.766	+0.042%	$4K	—	10x	as long as short
Bitget DRAMUSDT	+0.0111%	8h	61.780	+0.065%	$26.0M	$12.5M	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0111%	8h	61.780	+0.065%	$5.4M	$4.6M	50x	as long as short
GRVT DRAM_USDT_Perp	+0.0139%	8h	61.790	+0.081%	$36K	$183K	10x	as long as short
Paradex DRAM-USD-PERP	+0.0160%	8h	61.771	+0.050%	—	—	5x	as long as short
Variational Omni DRAM	+0.0187%	8h	61.727	−0.021%	$2.4M	$949K	—	as long as short
Coinbase International DRAM-PERP-INTX	+0.0208%	1h	61.580	−0.259%	$510K	$43K	20x	as long as short
Bybit DRAMUSDT	+0.0229%	8h	61.810	+0.113%	$9.3M	$10.4M	100x	as long as short
Extended DRAM-USD	+0.0232%	1h	61.769	+0.047%	$77K	$765K	10x	as long as short
MEXC DRAM_USDT	+0.0234%	8h	61.780	+0.065%	$11.2M	$6.4M	100x	as long as short
Binance DRAMUSDT	+0.0235%	8h	61.784	+0.072%	$43.8M	$82.6M	50x	as long as short
RISEx DRAM/USDC	+0.0257%	1h	61.782	+0.068%	$455K	$454K	20x	as long as short
Lighter DRAM	+0.0304%	1h	61.785	+0.073%	$992K	$1.2M	20x	as long as short
tradeXYZ xyz:DRAM	+0.0307%	1h	61.774	+0.055%	$79.3M	$39.6M	20x	as long as short
Deribit DRAM_USDC-PERPETUALlong	+0.0398%	1h	61.740	long leg	$13K	$9K	20x
BloFin DRAM-USDT	+0.0439%	8h	61.770	+0.049%	$294K	$27K	20x	as long as short
Arcus DRAM-USD	+0.0649%	1h	61.770	+0.049%	$50K	$91K	10x	as long as short