Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.058%

Price spread now: Phemex against Entropy+0.165%7-day average −0.004% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1371.375% of the position

Long on Entropy Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.139%−$14 on $10k

Price spread, last 3 days (all we have)−0.148%−$15 · spread now +0.165%, 7d avg −0.004%

Together, before fees−0.288%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.169% dearer against Entropy than usual: you sell high and buy low (spread +0.165% now, against its 7-day average of −0.004%): +$17 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 11 days. At the pace of the last 4 days (−0.139% in total) that is about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:DRAM	61.668	0.0050	pay 0.0006% / 1h	27m 20s	$254K	$505K	25x
Short	Phemex DRAMUSDT	61.770	0	get 0.0000% / 8h	1h 27m	$1.8M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Entropy. 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 EntropybpFee PhemexbpOrdersPrice spread, now +0.165%Rate

Funding earned: −$10.5
Price spread: +0.165% → −0.004%: $16.94
Slippage, 4 orders: −$107.5
Fee Entropy: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$131.06
Costs to cover: 1.375%
Break-even: never at this rate

Slippage from Entropy: live order book, 48 min ago; Phemex: live order book, 1 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 Entropy live order book, 48 min ago	3.01 bp	14.5 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	0.81 bp	62.1 bp −$62	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
Gate DRAM_USDT	0.0000%	8h	61.780	+0.182%	$8.2M	$3.5M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.770	+0.165%	$757	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.760	+0.149%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	61.770	+0.165%	$1.8M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0037%	1h	61.729	+0.099%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.650	−0.029%	—	$797	10x	as long as short
Entropy io:DRAMlong	+0.0050%	1h	61.668	long leg	$254K	$505K	25x
Polymarket Perps DRAM-USD	+0.0050%	1h	61.735	+0.109%	$204K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.760	+0.149%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.720	+0.084%	$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	61.740	+0.117%	$1.0M	$77K	10x	as long as short
edgeX DRAMUSDC	+0.0055%	4h	61.775	+0.173%	$153K	$288K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.705	+0.059%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.760	+0.149%	$3.0M	$476K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.830	+0.263%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.760	+0.149%	$8K	—	10x	as long as short
Aster DRAMUSDT	+0.0102%	8h	61.740	+0.117%	$198K	$36K	20x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.774	+0.171%	$4K	—	10x	as long as short
Bitget DRAMUSDT	+0.0110%	8h	61.760	+0.149%	$26.0M	$12.5M	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0111%	8h	61.770	+0.165%	$5.4M	$4.6M	50x	as long as short
GRVT DRAM_USDT_Perp	+0.0139%	8h	61.790	+0.198%	$36K	$183K	10x	as long as short
Paradex DRAM-USD-PERP	+0.0162%	8h	61.756	+0.143%	—	—	5x	as long as short
Variational Omni DRAM	+0.0187%	8h	61.727	+0.096%	$2.4M	$949K	—	as long as short
Coinbase International DRAM-PERP-INTX	+0.0208%	1h	61.580	−0.143%	$510K	$43K	20x	as long as short
Bybit DRAMUSDT	+0.0227%	8h	61.810	+0.230%	$9.3M	$10.4M	100x	as long as short
Extended DRAM-USD	+0.0232%	1h	61.749	+0.131%	$77K	$765K	10x	as long as short
MEXC DRAM_USDT	+0.0234%	8h	61.760	+0.149%	$11.2M	$6.4M	100x	as long as short
Binance DRAMUSDT	+0.0235%	8h	61.760	+0.149%	$43.8M	$82.6M	50x	as long as short
RISEx DRAM/USDC	+0.0257%	1h	61.773	+0.169%	$455K	$454K	20x	as long as short
Lighter DRAM	+0.0312%	1h	61.775	+0.174%	$992K	$1.2M	20x	as long as short
tradeXYZ xyz:DRAM	+0.0313%	1h	61.747	+0.128%	$79.3M	$39.6M	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0398%	1h	61.760	+0.149%	$13K	$9K	20x	as long as short
BloFin DRAM-USDT	+0.0432%	8h	61.770	+0.165%	$294K	$27K	20x	as long as short
Arcus DRAM-USD	+0.0649%	1h	61.750	+0.133%	$50K	$92K	10x	as long as short