Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h −0.052%

Price spread now: Phemex against Lighter+0.014%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$980.980% of the position

Long on Lighter Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.289%−$29 on $10k

Price spread, last 3 days (all we have)−0.011%−$1 · spread now +0.014%, 7d avg +0.005%

Together, before fees−0.301%+ Points / potential airdropLighter: Season 3 · farm board−$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DRAM	62.301	0.0112	pay 0.0014% / 1h	48m 14s	$968K	$1.0M	20x
Short	Phemex DRAMUSDT	62.310	0	get 0.0000% / 8h	6h 48m	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$23.52
Price spread: +0.014% → +0.005%: $0.92
Slippage, 4 orders: −$86.03
Fee Lighter: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$120.63
Costs to cover: 0.980%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Phemex: live order book, 5 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, 2 min ago	0.24 bp	0.8 bp −$1	2.3 bp −$23	53.1 bp −$5,309	doesn't fit
Sell Phemex live order book, 5 min ago	3.21 bp	46.8 bp −$47	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
SunX DRAM-USDT	0.0000%	8h	62.310	+0.014%	$758	$2.9M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	62.340	+0.063%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	62.310	+0.014%	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0034%	1h	62.295	−0.009%	$1K	$34K	5x	as long as short
edgeX DRAMUSDC	+0.0039%	4h	62.341	+0.064%	$151K	$296K	20x	as long as short
Arcus DRAM-USD	+0.0040%	1h	62.330	+0.047%	$51K	$82K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	62.280	−0.034%	—	—	10x	as long as short
QFEX DRAM-USD	+0.0046%	1h	62.290	−0.018%	$1.0M	$78K	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	62.298	−0.005%	$253K	$443K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	62.288	−0.021%	$266K	$1.3M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX DRAM-USD	+0.0050%	1h	62.300	−0.002%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	62.250	−0.082%	$1.2M	$1.8M	10x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0071%	1h	62.290	−0.018%	$13K	$3K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	62.288	−0.020%	$76K	$42K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	62.300	−0.002%	$3.0M	$416K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	62.320	+0.030%	$22K	$185K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	62.350	+0.079%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	62.331	+0.049%	$4K	—	10x	as long as short
Lighter DRAMlong	+0.0112%	1h	62.301	long leg	$968K	$1.0M	20x
Coinbase International DRAM-PERP-INTX	+0.0152%	1h	62.390	+0.143%	$540K	$90K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0205%	8h	62.315	+0.022%	—	—	5x	as long as short
tradeXYZ xyz:DRAM	+0.0233%	1h	62.285	−0.026%	$82.0M	$37.3M	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0235%	8h	62.320	+0.030%	$5.5M	$4.6M	50x	as long as short
Bybit DRAMUSDT	+0.0400%	8h	62.340	+0.063%	$9.7M	$10.2M	100x	as long as short
Aster DRAMUSDT	+0.0493%	8h	62.337	+0.058%	$201K	$36K	20x	as long as short
Bitget DRAMUSDT	+0.0498%	8h	62.290	−0.018%	$26.1M	$12.8M	20x	as long as short
Variational Omni DRAM	+0.0581%	8h	62.365	+0.103%	$2.4M	$756K	—	as long as short
Extended DRAM-USD	+0.0616%	1h	62.286	−0.024%	$76K	$663K	10x	as long as short
Binance DRAMUSDT	+0.0618%	8h	62.304	+0.005%	$44.7M	$82.0M	50x	as long as short
MEXC DRAM_USDT	+0.0619%	8h	62.300	−0.002%	$9.7M	$5.9M	100x	as long as short
Gate DRAM_USDT	+0.0717%	8h	62.340	+0.063%	$8.2M	$3.4M	75x	as long as short
GRVT DRAM_USDT_Perp	+0.0774%	8h	62.370	+0.111%	$37K	$152K	10x	as long as short
RISEx DRAM/USDC	+0.0835%	1h	62.311	+0.017%	$450K	$503K	20x	as long as short
BloFin DRAM-USDT	+0.0951%	8h	62.380	+0.127%	$301K	$26K	20x	as long as short