Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0304%/8h= −33.3% APRpaid last 24h −0.052%

Price spread now: Ondo Perps against Variational Omni−0.054%7-day average −0.098% · you buy dearer than you sell

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.028%−$3 on $10k

Price spread, last 7 days+0.089%+$9 · spread now −0.054%, 7d avg −0.098%

Together, before fees+0.061%+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm board+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.045% dearer against Variational Omni than usual: you sell high and buy low (spread −0.054% now, against its 7-day average of −0.098%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 3 days (−0.028% in total) that is about 5.5 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.028% in total (about -3.0% 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	Variational Omni DRAM	62.443	0.0355	pay 0.0355% / 8h	4h 26m	$2.4M	$747K	—
Short	Ondo Perps DRAM-USD.P	62.410	0.0050	get 0.0006% / 1h	26m 02s	$1.1M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Variational Omni. 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 Variational OmnibpFee Ondo PerpsbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$63.91
Price spread: −0.054% → −0.098%: $4.46
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$64.45
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Ondo Perps: no order-book sample. 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 Variational Omni RFQ quote, 3 min ago	3.08 bp	doesn't fit	6.8 bp −$68	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

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	62.447	+0.006%	$442K	$501K	20x	as long as short
SunX DRAM-USDT	0.0000%	8h	62.440	−0.006%	$759	$2.7M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	62.400	−0.070%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	62.450	+0.010%	$1.7M	$1.3M	10x	as long as short
Aftermath Perps DRAMUSD	+0.0022%	1h	62.421	−0.036%	$1K	$32K	5x	as long as short
edgeX DRAMUSDC	+0.0026%	4h	62.434	−0.016%	$151K	$299K	20x	as long as short
Lighter DRAM	+0.0032%	1h	62.442	−0.002%	$970K	$1.0M	20x	as long as short
Arcus DRAM-USD	+0.0040%	1h	62.430	−0.022%	$49K	$78K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	62.420	−0.038%	—	—	10x	as long as short
GRVT DRAM_USDT_Perp	+0.0048%	8h	62.450	+0.010%	$37K	$171K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps DRAM-USD	+0.0050%	1h	62.416	−0.044%	$267K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	62.443	−0.001%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.Pshort	+0.0050%	1h	62.410	−0.054%	$1.1M	$2.2M	10x
QFEX DRAM-USD	+0.0052%	1h	62.420	−0.038%	$1.0M	$78K	10x	as long as short
tradeXYZ xyz:DRAM	+0.0065%	1h	62.432	−0.018%	$81.8M	$35.4M	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0070%	1h	62.440	−0.006%	$13K	$3K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0084%	8h	62.440	−0.005%	—	—	5x	as long as short
Bitget DRAMUSDT	+0.0095%	8h	62.460	+0.027%	$26.3M	$13.2M	20x	as long as short
Pacifica DRAM	+0.0100%	1h	62.455	+0.018%	$76K	$44K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	62.440	−0.006%	$3.0M	$393K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	62.450	+0.010%	$22K	$186K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	62.470	+0.043%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	62.457	+0.022%	$4K	—	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0116%	8h	62.470	+0.043%	$5.5M	$4.5M	50x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0152%	1h	62.330	−0.182%	$535K	$75K	20x	as long as short
Bybit DRAMUSDT	+0.0168%	8h	62.480	+0.059%	$9.7M	$9.7M	100x	as long as short
Entropy io:DRAM	+0.0169%	1h	62.432	−0.018%	$183K	$446K	25x	as long as short
Aster DRAMUSDT	+0.0281%	8h	62.451	+0.011%	$201K	$35K	20x	as long as short
Variational Omni DRAMlong	+0.0355%	8h	62.443	long leg	$2.4M	$747K	—
Binance DRAMUSDT	+0.0398%	8h	62.460	+0.026%	$45.0M	$80.0M	50x	as long as short
Extended DRAM-USD	+0.0400%	1h	62.436	−0.012%	$76K	$622K	10x	as long as short
MEXC DRAM_USDT	+0.0400%	8h	62.440	−0.006%	$9.2M	$5.4M	100x	as long as short
BloFin DRAM-USDT	+0.0479%	8h	62.480	+0.059%	$302K	$26K	20x	as long as short
Gate DRAM_USDT	+0.0632%	8h	62.480	+0.059%	$8.2M	$3.5M	75x	as long as short