DRAM

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0218%/8h= +23.9% APRnext payment +$2.18 per $10,000 · paid last 24h +0.050%

Price spread now: Bybit against Phemex+0.086%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1141.141% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 3 days (all we have)−0.052%−$5 · spread now +0.086%, 7d avg +0.016%

Together, before fees+0.025%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Bybit is 0.070% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.016%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.078% in total (about 4.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.18 per $10,000. 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	Phemex DRAMUSDT	61.740	0	get 0.0000% / 8h	1h 30m	$1.8M	$1.3M	10x
Short	Bybit DRAMUSDT	61.793	0.0218	get 0.0218% / 8h	1h 30m	$9.3M	$10.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. 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 PhemexbpFee BybitbpOrdersPrice spread, now +0.086%Rate

Funding earned: $45.85
Price spread: +0.086% → +0.016%: $7.01
Slippage, 4 orders: −$91.12
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$61.26
Costs to cover: 1.141%
Break-even: 16.4 days

Slippage from Phemex: live order book, 2 min ago; Bybit: live order book, 2 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 Phemex live order book, 2 min ago	2.43 bp	50.1 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.81 bp	7.5 bp −$7	13.3 bp −$133	108.3 bp −$10.8K	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	61.770	+0.049%	$8.2M	$3.5M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.730	−0.016%	$823	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.700	−0.065%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTlong	0.0000%	8h	61.740	long leg	$1.8M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0037%	1h	61.705	−0.057%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.630	−0.178%	—	$797	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	61.679	−0.099%	$253K	$503K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.706	−0.055%	$204K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.735	−0.008%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.650	−0.146%	$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-USD	+0.0052%	1h	61.720	−0.032%	$1.0M	$77K	10x	as long as short
edgeX DRAMUSDC	+0.0061%	4h	61.737	−0.006%	$153K	$290K	20x	as long as short
Aster DRAMUSDT	+0.0099%	8h	61.740	0.000%	$198K	$36K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.687	−0.086%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.730	−0.016%	$3.0M	$476K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.690	−0.081%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.740	0.000%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.740	+0.001%	$4K	—	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0106%	8h	61.770	+0.049%	$5.4M	$4.6M	50x	as long as short
Bitget DRAMUSDT	+0.0107%	8h	61.740	0.000%	$26.0M	$12.5M	20x	as long as short
GRVT DRAM_USDT_Perp	+0.0139%	8h	61.730	−0.016%	$36K	$185K	10x	as long as short
Paradex DRAM-USD-PERP	+0.0162%	8h	61.732	−0.013%	—	—	5x	as long as short
Variational Omni DRAM	+0.0186%	8h	61.708	−0.052%	$2.4M	$949K	—	as long as short
Coinbase International DRAM-PERP-INTX	+0.0208%	1h	61.580	−0.259%	$510K	$44K	20x	as long as short
Bybit DRAMUSDTshort	+0.0218%	8h	61.793	+0.086%	$9.3M	$10.3M	100x
MEXC DRAM_USDT	+0.0231%	8h	61.740	0.000%	$11.2M	$6.4M	100x	as long as short
Binance DRAMUSDT	+0.0232%	8h	61.745	+0.007%	$43.8M	$82.6M	50x	as long as short
Extended DRAM-USD	+0.0232%	1h	61.733	−0.012%	$102K	$741K	10x	as long as short
RISEx DRAM/USDC	+0.0257%	1h	61.738	−0.003%	$480K	$442K	20x	as long as short
Lighter DRAM	+0.0312%	1h	61.739	−0.002%	$992K	$1.2M	20x	as long as short
tradeXYZ xyz:DRAM	+0.0322%	1h	61.727	−0.021%	$79.3M	$39.5M	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0398%	1h	61.730	−0.016%	$13K	$9K	20x	as long as short
BloFin DRAM-USDT	+0.0425%	8h	61.720	−0.032%	$294K	$27K	20x	as long as short
Arcus DRAM-USD	+0.0649%	1h	61.720	−0.032%	$50K	$92K	10x	as long as short