Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h +0.052%

Price spread now: Lighter against Phemex−0.034%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$900.899% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.289%+$29 on $10k

Price spread, last 3 days (all we have)+0.030%+$3 · spread now −0.034%, 7d avg −0.005%

Together, before fees+0.320%+ Points / potential airdropLighter: Season 3 · farm board+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.028% cheaper against Phemex than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of −0.005%). If the spread goes back, that is −$3 on $10k: about 17 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DRAMUSDT	62.300	0	get 0.0000% / 8h	6h 46m	$1.7M	$1.3M	10x
Short	Lighter DRAM	62.279	0.0136	get 0.0017% / 1h	46m 20s	$967K	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.034%Rate

Funding earned: $28.56
Price spread: −0.034% → −0.005%: −$2.85
Slippage, 4 orders: −$77.94
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$64.23
Costs to cover: 0.899%
Break-even: 22.7 days

Slippage from Phemex: live order book, 2 min ago; Lighter: 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 Phemex live order book, 2 min ago	3.21 bp	44.7 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.24 bp	0.4 bp $0	4.4 bp −$44	61.6 bp −$6,159	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
SunX DRAM-USDT	0.0000%	8h	62.320	+0.032%	$681	$2.9M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	62.320	+0.032%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTlong	0.0000%	8h	62.300	long leg	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0034%	1h	62.273	−0.044%	$1K	$34K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	62.290	−0.016%	$50K	$82K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	62.240	−0.096%	—	—	10x	as long as short
QFEX DRAM-USD	+0.0046%	1h	62.270	−0.048%	$1.0M	$78K	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	62.272	−0.045%	$253K	$444K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	62.243	−0.091%	$266K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	62.278	−0.035%	$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.P	+0.0050%	1h	62.250	−0.080%	$1.1M	$1.8M	10x	as long as short
edgeX DRAMUSDC	+0.0082%	4h	62.337	+0.059%	$151K	$297K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	62.262	−0.061%	$76K	$42K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	62.260	−0.064%	$3.0M	$412K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	62.330	+0.048%	$22K	$185K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	62.310	+0.016%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	62.303	+0.005%	$4K	—	10x	as long as short
Lighter DRAMshort	+0.0136%	1h	62.279	−0.034%	$967K	$1.0M	20x
Coinbase International DRAM-PERP-INTX	+0.0152%	1h	62.390	+0.144%	$540K	$90K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0200%	8h	62.282	−0.029%	—	—	5x	as long as short
tradeXYZ xyz:DRAM	+0.0226%	1h	62.251	−0.079%	$82.0M	$37.3M	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0230%	8h	62.280	−0.032%	$5.5M	$4.7M	50x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0232%	1h	62.250	−0.080%	$13K	$3K	20x	as long as short
Bybit DRAMUSDT	+0.0379%	8h	62.290	−0.016%	$9.7M	$10.2M	100x	as long as short
Bitget DRAMUSDT	+0.0479%	8h	62.280	−0.032%	$26.1M	$12.7M	20x	as long as short
Aster DRAMUSDT	+0.0487%	8h	62.294	−0.010%	$200K	$36K	20x	as long as short
Variational Omni DRAM	+0.0573%	8h	62.275	−0.040%	$2.4M	$757K	—	as long as short
Binance DRAMUSDT	+0.0613%	8h	62.280	−0.032%	$44.7M	$81.9M	50x	as long as short
MEXC DRAM_USDT	+0.0613%	8h	62.270	−0.048%	$9.7M	$5.9M	100x	as long as short
Extended DRAM-USD	+0.0616%	1h	62.274	−0.042%	$76K	$663K	10x	as long as short
Gate DRAM_USDT	+0.0685%	8h	62.290	−0.016%	$8.2M	$3.4M	75x	as long as short
GRVT DRAM_USDT_Perp	+0.0699%	8h	62.329	+0.047%	$37K	$152K	10x	as long as short
RISEx DRAM/USDC	+0.0835%	1h	62.281	−0.030%	$450K	$503K	20x	as long as short
BloFin DRAM-USDT	+0.0951%	8h	62.380	+0.128%	$301K	$26K	20x	as long as short