Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0248%/8h= +27.2% APRpaid last 24h +0.046%

Price spread now: Coinbase International against Phemex−0.017%7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1221.218% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.354%+$35 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now −0.017%, 7d avg −0.156%

Together, before fees+0.370%+$37 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 Coinbase International is 0.140% dearer against Phemex than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.156%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DRAMUSDT	60.600	0	get 0.0000% / 8h	7h 44m	$1.7M	$1.3M	10x
Short	Coinbase International DRAM-PERP-INTX	60.590	0.0248	get 0.0031% / 1h	44m 54s	$532K	$86K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.017%Rate

Funding earned: $52.08
Price spread: −0.017% → −0.156%: $13.99
Slippage, 4 orders: −$99.78
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$55.71
Costs to cover: 1.218%
Break-even: 14.5 days

Slippage from Phemex: live order book, 3 min ago; Coinbase International: live order book, 53 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, 3 min ago	3.30 bp	50.1 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 53 min ago	4.92 bp	13.1 bp −$13	16.9 bp −$169	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
Bitget DRAMUSDT	−0.0698%	8h	60.610	+0.017%	$26.4M	$15.1M	20x	as long as short
Aster DRAMUSDT	0.0000%	8h	60.625	+0.041%	$194K	$39K	20x	as long as short
Extended DRAM-USD	0.0000%	1h	60.595	−0.009%	$76K	$222K	10x	as long as short
Binance DRAMUSDT	0.0000%	8h	60.620	+0.033%	$43.5M	$89.7M	50x	as long as short
Bybit DRAMUSDT	0.0000%	8h	60.635	+0.058%	$9.6M	$10.4M	100x	as long as short
RISEx DRAM/USDC	0.0000%	1h	60.593	−0.011%	$418K	$339K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	60.640	+0.066%	$7.9M	$3.6M	75x	as long as short
MEXC DRAM_USDT	0.0000%	8h	60.620	+0.033%	$8.4M	$5.4M	100x	as long as short
Variational Omni DRAM	0.0000%	8h	60.545	−0.091%	$2.3M	$581K	—	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	60.640	+0.066%	$35K	$209K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX DRAM-USDT	0.0000%	8h	60.590	−0.017%	$714	$2.5M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	60.560	−0.066%	$27K	$3K	20x	as long as short
Phemex DRAMUSDTlong	0.0000%	8h	60.600	long leg	$1.7M	$1.3M	10x
OKX DRAM-USDT-SWAP	+0.0004%	8h	60.640	+0.066%	$5.4M	$6.1M	50x	as long as short
BloFin DRAM-USDT	+0.0011%	8h	60.610	+0.017%	$300K	$25K	20x	as long as short
Aftermath Perps DRAMUSD	+0.0038%	1h	60.587	−0.021%	$1K	$29K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	60.590	−0.017%	$47K	$66K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	60.540	−0.099%	—	—	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	60.566	−0.056%	$177K	$472K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	60.600	0.000%	$252K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	60.585	−0.025%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	60.540	−0.099%	$1.0M	$3.5M	10x	as long as short
QFEX DRAM-USD	+0.0053%	1h	60.590	−0.017%	$987K	$84K	10x	as long as short
edgeX DRAMUSDC	+0.0065%	4h	60.608	+0.014%	$147K	$299K	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0080%	1h	60.580	−0.033%	$12K	$3K	20x	as long as short
tradeXYZ xyz:DRAM	+0.0087%	1h	60.600	0.000%	$78.3M	$35.1M	20x	as long as short
Paradex DRAM-USD-PERP	+0.0095%	8h	60.591	−0.014%	—	—	5x	as long as short
Pacifica DRAM	+0.0100%	1h	60.549	−0.085%	$73K	$34K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	60.800	+0.330%	$3.0M	$403K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	60.570	−0.050%	$21K	$183K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	60.600	0.000%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	60.578	−0.036%	$4K	—	10x	as long as short
Lighter DRAM	+0.0232%	1h	60.595	−0.008%	$1.1M	$1.2M	20x	as long as short
Coinbase International DRAM-PERP-INTXshort	+0.0248%	1h	60.590	−0.017%	$532K	$86K	20x