Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0149%/8h= −16.3% APRpaid last 24h −0.029%

Price spread now: Aster against Lighter−0.089%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.089%, 7d avg 0.000%

Together, before fees−0.106%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Aster is 0.088% cheaper against Lighter than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of 0.000%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DRAM	61.629	0.0240	pay 0.0030% / 1h	31m 17s	$991K	$1.2M	20x
Short	Aster DRAMUSDT	61.574	0.0091	get 0.0091% / 8h	2h 31m	$201K	$33K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$31.2
Price spread: −0.089% → 0.000%: −$8.85
Slippage, 4 orders: −$11.03
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$59.08
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Aster: live order book, 55 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 Lighter live order book, 5 min ago	0.65 bp	0.7 bp −$1	1.5 bp −$15	23.9 bp −$2,393	doesn't fit
Sell Aster live order book, 55 min ago	2.44 bp	6.4 bp −$6	6.4 bp −$64	173.1 bp −$17.3K	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	61.620	−0.015%	$8.2M	$3.5M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.630	+0.002%	$879	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.580	−0.080%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.600	−0.047%	$1.8M	$1.3M	10x	as long as short
Aftermath Perps DRAMUSD	+0.0037%	1h	61.566	−0.102%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.560	−0.112%	—	$797	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.597	−0.052%	$203K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.616	−0.021%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.520	−0.177%	$1.2M	$1.7M	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0059%	8h	61.630	+0.002%	$5.4M	$4.9M	50x	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	+0.0080%	1h	61.610	−0.031%	$1.0M	$77K	10x	as long as short
Aster DRAMUSDTshort	+0.0091%	8h	61.574	−0.089%	$201K	$33K	20x
edgeX DRAMUSDC	+0.0096%	4h	61.591	−0.062%	$152K	$290K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.551	−0.127%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.560	−0.112%	$3.0M	$483K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.590	−0.063%	$22K	$182K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.610	−0.031%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.615	−0.023%	$4K	—	10x	as long as short
Bitget DRAMUSDT	+0.0107%	8h	61.610	−0.031%	$25.9M	$12.6M	20x	as long as short
Variational Omni DRAM	+0.0160%	8h	61.583	−0.075%	$2.4M	$999K	—	as long as short
Paradex DRAM-USD-PERP	+0.0160%	8h	61.623	−0.009%	—	—	5x	as long as short
Bybit DRAMUSDT	+0.0163%	8h	61.636	+0.011%	$9.1M	$10.2M	100x	as long as short
tradeXYZ xyz:DRAM	+0.0165%	1h	61.598	−0.050%	$79.0M	$39.7M	20x	as long as short
GRVT DRAM_USDT_Perp	+0.0168%	8h	61.590	−0.063%	$36K	$192K	10x	as long as short
Entropy io:DRAM	+0.0187%	1h	61.599	−0.049%	$249K	$503K	25x	as long as short
BloFin DRAM-USDT	+0.0223%	8h	61.590	−0.063%	$295K	$26K	20x	as long as short
Extended DRAM-USD	+0.0224%	1h	61.618	−0.017%	$102K	$741K	10x	as long as short
MEXC DRAM_USDT	+0.0224%	8h	61.620	−0.015%	$11.1M	$6.4M	100x	as long as short
Binance DRAMUSDT	+0.0225%	8h	61.624	−0.008%	$43.7M	$82.6M	50x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0232%	1h	61.510	−0.193%	$510K	$43K	20x	as long as short
Lighter DRAMlong	+0.0240%	1h	61.629	long leg	$991K	$1.2M	20x
RISEx DRAM/USDC	+0.0459%	1h	61.617	−0.019%	$475K	$439K	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0562%	1h	61.630	+0.002%	$13K	$9K	20x	as long as short
Arcus DRAM-USD	+0.0739%	1h	61.620	−0.015%	$50K	$96K	10x	as long as short