Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.012%

Price spread now: Variational Omni against Lighter−0.005%7-day average +0.024% · you buy dearer than you sell

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 7 days−0.031%−$3 · spread now −0.005%, 7d avg +0.024%

Together, before fees−0.060%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.029% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DRAM	61.646	0.0240	pay 0.0030% / 1h	24m 24s	$991K	$1.2M	20x
Short	Variational Omni DRAM	61.643	0.0188	get 0.0188% / 8h	2h 24m	$2.4M	$980K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.005%Rate

Funding earned: −$10.97
Price spread: −0.005% → +0.024%: −$2.87
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$13.84
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 2 min ago; Variational Omni: RFQ quote, 5 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 Lighter live order book, 2 min ago	1.30 bp	1.4 bp −$1	2.6 bp −$26	45.0 bp −$4,499	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	3.11 bp	doesn't fit	8.6 bp −$86	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	61.650	+0.006%	$8.2M	$3.5M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.640	−0.010%	$570	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.610	−0.058%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.640	−0.010%	$1.8M	$1.3M	10x	as long as short
Aftermath Perps DRAMUSD	+0.0036%	1h	61.596	−0.081%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.600	−0.075%	—	$797	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.619	−0.044%	$203K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.618	−0.045%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.560	−0.140%	$1.2M	$1.7M	10x	as long as short
edgeX DRAMUSDC	+0.0066%	4h	61.628	−0.029%	$152K	$288K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX DRAM-USDT-SWAP	+0.0068%	8h	61.630	−0.026%	$5.4M	$4.9M	50x	as long as short
QFEX DRAM-USD	+0.0080%	1h	61.630	−0.026%	$1.0M	$77K	10x	as long as short
Pacifica DRAM	+0.0100%	1h	61.638	−0.013%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.610	−0.058%	$3.0M	$483K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.570	−0.123%	$22K	$182K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.640	−0.010%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.645	−0.002%	$4K	—	10x	as long as short
Bitget DRAMUSDT	+0.0113%	8h	61.630	−0.026%	$25.9M	$12.6M	20x	as long as short
Aster DRAMUSDT	+0.0115%	8h	61.649	+0.005%	$201K	$33K	20x	as long as short
Entropy io:DRAM	+0.0142%	1h	61.630	−0.026%	$249K	$503K	25x	as long as short
tradeXYZ xyz:DRAM	+0.0167%	1h	61.615	−0.050%	$79.0M	$39.6M	20x	as long as short
Paradex DRAM-USD-PERP	+0.0167%	8h	61.646	0.000%	—	—	5x	as long as short
Bybit DRAMUSDT	+0.0170%	8h	61.660	+0.023%	$9.1M	$10.2M	100x	as long as short
Variational Omni DRAMshort	+0.0188%	8h	61.643	−0.005%	$2.4M	$980K	—
GRVT DRAM_USDT_Perp	+0.0193%	8h	61.630	−0.026%	$36K	$190K	10x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0232%	1h	61.510	−0.221%	$510K	$43K	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0237%	1h	61.650	+0.006%	$13K	$9K	20x	as long as short
Lighter DRAMlong	+0.0240%	1h	61.646	long leg	$991K	$1.2M	20x
MEXC DRAM_USDT	+0.0246%	8h	61.640	−0.010%	$11.1M	$6.4M	100x	as long as short
Extended DRAM-USD	+0.0248%	1h	61.634	−0.020%	$102K	$741K	10x	as long as short
Binance DRAMUSDT	+0.0249%	8h	61.640	−0.010%	$43.7M	$82.6M	50x	as long as short
BloFin DRAM-USDT	+0.0263%	8h	61.650	+0.006%	$295K	$26K	20x	as long as short
RISEx DRAM/USDC	+0.0459%	1h	61.647	+0.001%	$475K	$439K	20x	as long as short
Arcus DRAM-USD	+0.0739%	1h	61.640	−0.010%	$50K	$95K	10x	as long as short