Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Coinbase International against Lighter−0.626%7-day average −0.159% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 3 days (all we have)+0.705%+$71 · spread now −0.626%, 7d avg −0.159%

Together, before fees+0.777%+ Points / potential airdropLighter: Season 3 · farm board+$78 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.467% cheaper against Lighter than usual: you would sell low and buy high, −$47 on $10k if it goes back to its 7-day average of −0.159%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DRAM	61.968	0.0192	pay 0.0024% / 1h	47m 14s	$978K	$1.2M	20x
Short	Coinbase International DRAM-PERP-INTX	61.580	0.0192	get 0.0024% / 1h	47m 14s	$510K	$43K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.626%Rate

Funding earned: $0
Price spread: −0.626% → −0.159%: −$46.68
Slippage, 4 orders: −$12.03
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$68.71
Costs to cover: 0.220%
Break-even: 70588074941299584.0 days

Slippage from Lighter: live order book, 4 min ago; Coinbase International: live order book, 31 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, 4 min ago	0.65 bp	0.8 bp −$1	1.5 bp −$15	41.7 bp −$4,172	doesn't fit
Sell Coinbase International live order book, 31 min ago	3.24 bp	8.2 bp −$8	12.6 bp −$126	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	61.980	+0.019%	$8.3M	$3.4M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.960	−0.013%	$656	$3.2M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.910	−0.094%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.870	−0.158%	$1.8M	$1.3M	10x	as long as short
Aftermath Perps DRAMUSD	+0.0035%	1h	61.920	−0.078%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.860	−0.174%	—	$797	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.934	−0.055%	$211K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.970	+0.003%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.900	−0.110%	$1.2M	$1.8M	10x	as long as short
edgeX DRAMUSDC	+0.0066%	4h	61.944	−0.039%	$153K	$290K	20x	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	+0.0079%	1h	61.900	−0.110%	$1.0M	$80K	10x	as long as short
Pacifica DRAM	+0.0100%	1h	61.978	+0.016%	$76K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.900	−0.110%	$3.0M	$475K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.940	−0.045%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.950	−0.029%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.963	−0.008%	$4K	—	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0136%	8h	61.970	+0.003%	$5.4M	$4.6M	50x	as long as short
Bitget DRAMUSDT	+0.0139%	8h	61.960	−0.013%	$26.0M	$12.7M	20x	as long as short
Aster DRAMUSDT	+0.0158%	8h	61.965	−0.006%	$199K	$36K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0167%	8h	61.942	−0.042%	—	—	5x	as long as short
GRVT DRAM_USDT_Perp	+0.0176%	8h	61.941	−0.044%	$36K	$178K	10x	as long as short
Lighter DRAMlong	+0.0192%	1h	61.968	long leg	$978K	$1.2M	20x
Coinbase International DRAM-PERP-INTXshort	+0.0192%	1h	61.580	−0.626%	$510K	$43K	20x
Entropy io:DRAM	+0.0225%	1h	61.897	−0.115%	$260K	$502K	25x	as long as short
Variational Omni DRAM	+0.0237%	8h	61.947	−0.033%	$2.4M	$948K	—	as long as short
Bybit DRAMUSDT	+0.0270%	8h	62.004	+0.058%	$9.3M	$10.4M	100x	as long as short
tradeXYZ xyz:DRAM	+0.0286%	1h	61.950	−0.029%	$80.4M	$39.8M	20x	as long as short
MEXC DRAM_USDT	+0.0286%	8h	61.950	−0.029%	$11.2M	$6.5M	100x	as long as short
Extended DRAM-USD	+0.0288%	1h	61.947	−0.034%	$77K	$766K	10x	as long as short
Binance DRAMUSDT	+0.0292%	8h	61.951	−0.027%	$43.9M	$82.5M	50x	as long as short
RISEx DRAM/USDC	+0.0295%	1h	61.957	−0.018%	$457K	$475K	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0396%	1h	61.960	−0.013%	$13K	$9K	20x	as long as short
BloFin DRAM-USDT	+0.0543%	8h	61.950	−0.029%	$295K	$27K	20x	as long as short
Arcus DRAM-USD	+0.0680%	1h	61.940	−0.045%	$50K	$89K	10x	as long as short