Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against Ondo Perps+0.144%7-day average +0.111% · you sell dearer than you buy

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

Long on Ondo Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.144%, 7d avg +0.111%

Together, before fees−0.230%+ Points / potential airdropOndo Perps: Active · farm board−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.034% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.144% now, against its 7-day average of +0.111%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps DRAM-USD.P	62.300	0.0050	pay 0.0006% / 1h	10m 33s	$1.1M	$2.1M	10x
Short	Phemex DRAMUSDT	62.390	0	get 0.0000% / 8h	5h 10m	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Ondo Perps. 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 Ondo PerpsbpFee PhemexbpOrdersPrice spread, now +0.144%Rate

Funding earned: −$10.58
Price spread: +0.144% → +0.111%: $3.35
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$24.23
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 3 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	4.01 bp	40.9 bp −$41	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
RISEx DRAM/USDC	0.0000%	1h	62.381	+0.130%	$443K	$501K	20x	as long as short
SunX DRAM-USDT	0.0000%	8h	62.360	+0.096%	$799	$2.7M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	62.360	+0.096%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	62.390	+0.144%	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0028%	1h	62.340	+0.064%	$1K	$33K	5x	as long as short
edgeX DRAMUSDC	+0.0030%	4h	62.388	+0.141%	$151K	$296K	20x	as long as short
Arcus DRAM-USD	+0.0040%	1h	62.350	+0.080%	$51K	$80K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	62.350	+0.080%	—	—	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	62.362	+0.100%	$267K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	62.375	+0.120%	$2K	$15K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps DRAM-USD.Plong	+0.0050%	1h	62.300	long leg	$1.1M	$2.1M	10x
QFEX DRAM-USD	+0.0055%	1h	62.370	+0.112%	$1.0M	$78K	10x	as long as short
Entropy io:DRAM	+0.0087%	1h	62.338	+0.061%	$246K	$414K	25x	as long as short
Bitget DRAMUSDT	+0.0089%	8h	62.400	+0.161%	$26.3M	$13.2M	20x	as long as short
Lighter DRAM	+0.0096%	1h	62.371	+0.114%	$969K	$1.0M	20x	as long as short
Pacifica DRAM	+0.0100%	1h	62.343	+0.068%	$76K	$44K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	62.360	+0.096%	$3.0M	$389K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	62.340	+0.064%	$22K	$185K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	62.400	+0.161%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	62.392	+0.148%	$4K	—	10x	as long as short
Paradex DRAM-USD-PERP	+0.0120%	8h	62.374	+0.120%	—	—	5x	as long as short
GRVT DRAM_USDT_Perp	+0.0142%	8h	62.400	+0.160%	$37K	$162K	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0176%	8h	62.410	+0.177%	$5.5M	$4.4M	50x	as long as short
tradeXYZ xyz:DRAM	+0.0177%	1h	62.372	+0.116%	$81.8M	$36.6M	20x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0184%	1h	62.040	−0.417%	$534K	$74K	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0231%	1h	62.370	+0.112%	$13K	$3K	20x	as long as short
Bybit DRAMUSDT	+0.0246%	8h	62.414	+0.183%	$9.7M	$10.0M	100x	as long as short
Aster DRAMUSDT	+0.0368%	8h	62.411	+0.178%	$201K	$36K	20x	as long as short
Variational Omni DRAM	+0.0449%	8h	62.353	+0.085%	$2.4M	$717K	—	as long as short
Binance DRAMUSDT	+0.0487%	8h	62.384	+0.134%	$44.9M	$81.2M	50x	as long as short
MEXC DRAM_USDT	+0.0487%	8h	62.380	+0.128%	$9.2M	$5.6M	100x	as long as short
Extended DRAM-USD	+0.0488%	1h	62.370	+0.112%	$76K	$637K	10x	as long as short
Gate DRAM_USDT	+0.0559%	8h	62.430	+0.209%	$8.2M	$3.6M	75x	as long as short
BloFin DRAM-USDT	+0.0708%	8h	62.370	+0.112%	$302K	$26K	20x	as long as short