Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h −0.047%

Price spread now: QFEX against MEXC0.000%7-day average −0.044% · 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−$14as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on MEXC Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.045%−$5 on $10k

Price spread, last 7 days−0.090%−$9 · spread now 0.000%, 7d avg −0.044%

Together, before fees−0.135%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.044% dearer against MEXC than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.044%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 3 days (−0.045% in total) that is about 3.3 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.045% in total (about -4.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC DRAM_USDT	61.750	0.0241	pay 0.0241% / 8h	1h 15m	$11.2M	$6.4M	100x
Short	QFEX DRAM-USD	61.750	0.0052	get 0.0007% / 1h	15m 51s	$1.0M	$80K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against MEXC. 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 MEXCbpFee QFEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$39.61
Price spread: 0.000% → −0.044%: $4.39
Slippage, 4 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$53.21
Costs to cover: 0.180%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; QFEX: live order book, 4 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 MEXC live order book, 2 min ago	0.81 bp	0.8 bp −$1	0.8 bp −$8	5.4 bp −$537	doesn't fit
Sell QFEX live order book, 4 min ago	2.43 bp	7.4 bp −$7	7.4 bp −$74	11.1 bp −$1,109	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	+0.049%	$8.3M	$3.5M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.750	0.000%	$614	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.720	−0.049%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.750	0.000%	$1.8M	$1.3M	10x	as long as short
Aftermath Perps DRAMUSD	+0.0036%	1h	61.733	−0.028%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.740	−0.016%	—	$797	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	61.749	−0.002%	$260K	$509K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.730	−0.032%	$210K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.745	−0.008%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.750	0.000%	$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-USDshort	+0.0052%	1h	61.750	0.000%	$1.0M	$80K	10x
edgeX DRAMUSDC	+0.0062%	4h	61.777	+0.044%	$153K	$289K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.710	−0.065%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.740	−0.016%	$3.0M	$476K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.800	+0.081%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.740	−0.016%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.757	+0.012%	$4K	—	10x	as long as short
Aster DRAMUSDT	+0.0106%	8h	61.740	−0.016%	$198K	$36K	20x	as long as short
Bitget DRAMUSDT	+0.0113%	8h	61.770	+0.032%	$26.0M	$12.5M	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0115%	8h	61.780	+0.049%	$5.4M	$4.6M	50x	as long as short
GRVT DRAM_USDT_Perp	+0.0145%	8h	61.807	+0.093%	$36K	$181K	10x	as long as short
Paradex DRAM-USD-PERP	+0.0156%	8h	61.730	−0.032%	—	—	5x	as long as short
Variational Omni DRAM	+0.0196%	8h	61.777	+0.044%	$2.4M	$949K	—	as long as short
Coinbase International DRAM-PERP-INTX	+0.0208%	1h	61.580	−0.275%	$510K	$43K	20x	as long as short
Bybit DRAMUSDT	+0.0229%	8h	61.795	+0.073%	$9.3M	$10.4M	100x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0236%	1h	61.750	0.000%	$13K	$9K	20x	as long as short
Binance DRAMUSDT	+0.0238%	8h	61.763	+0.021%	$43.8M	$82.7M	50x	as long as short
Extended DRAM-USD	+0.0240%	1h	61.749	−0.002%	$77K	$765K	10x	as long as short
MEXC DRAM_USDTlong	+0.0241%	8h	61.750	long leg	$11.2M	$6.4M	100x
RISEx DRAM/USDC	+0.0257%	1h	61.757	+0.011%	$455K	$475K	20x	as long as short
Lighter DRAM	+0.0272%	1h	61.769	+0.031%	$967K	$1.2M	20x	as long as short
tradeXYZ xyz:DRAM	+0.0294%	1h	61.746	−0.006%	$79.2M	$39.5M	20x	as long as short
BloFin DRAM-USDT	+0.0471%	8h	61.760	+0.016%	$294K	$27K	20x	as long as short
Arcus DRAM-USD	+0.0649%	1h	61.740	−0.016%	$50K	$91K	10x	as long as short