Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0090%/8h= −9.9% APRpaid last 24h −0.045%

Price spread now: QFEX against Variational Omni−0.004%47s7-day average −0.045% · you buy dearer than you sell

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

Long on Variational Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.038%−$4 on $10k

Price spread, last 7 days−0.074%−$7 · spread now −0.004%, 7d avg −0.045%

Together, before fees−0.112%+ Points / potential airdropVariational Omni: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.041% dearer against Variational Omni than usual: you sell high and buy low (spread −0.004% now, against its 7-day average of −0.045%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours. At the pace of the last 3 days (−0.038% in total) that is about 3.5 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni DRAM	61.632	0.0170	pay 0.0170% / 8h	2h 25m	$2.4M	$998K	—
Short	QFEX DRAM-USD	61.630	0.0080	get 0.0010% / 1h	25m 50s	$1.0M	$77K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$18.92
Price spread: −0.004% → −0.045%: $4.11
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$24.82
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; QFEX: live order book, 4 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 Variational Omni RFQ quote, 3 min ago	3.11 bp	doesn't fit	8.4 bp −$84	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.62 bp	6.6 bp −$7	7.7 bp −$77	11.5 bp −$1,155	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	61.630	−0.004%	$8.2M	$3.5M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.630	−0.004%	$674	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.610	−0.036%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.640	+0.013%	$1.8M	$1.3M	10x	as long as short
edgeX DRAMUSDC	+0.0036%	4h	61.628	−0.007%	$152K	$290K	20x	as long as short
Aftermath Perps DRAMUSD	+0.0036%	1h	61.601	−0.050%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.580	−0.085%	—	$797	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.601	−0.051%	$203K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.635	+0.004%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.560	−0.117%	$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
OKX DRAM-USDT-SWAP	+0.0068%	8h	61.630	−0.004%	$5.4M	$4.9M	50x	as long as short
QFEX DRAM-USDshort	+0.0080%	1h	61.630	−0.004%	$1.0M	$77K	10x
Pacifica DRAM	+0.0100%	1h	61.632	0.000%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.580	−0.085%	$3.0M	$483K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.540	−0.150%	$22K	$182K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.630	−0.004%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.643	+0.018%	$4K	—	10x	as long as short
Aster DRAMUSDT	+0.0112%	8h	61.593	−0.063%	$201K	$33K	20x	as long as short
Bitget DRAMUSDT	+0.0112%	8h	61.630	−0.004%	$25.9M	$12.6M	20x	as long as short
Entropy io:DRAM	+0.0157%	1h	61.613	−0.031%	$249K	$503K	25x	as long as short
Paradex DRAM-USD-PERP	+0.0167%	8h	61.617	−0.025%	—	—	5x	as long as short
Variational Omni DRAMlong	+0.0170%	8h	61.632	long leg	$2.4M	$998K	—
Bybit DRAMUSDT	+0.0170%	8h	61.660	+0.045%	$9.1M	$10.2M	100x	as long as short
tradeXYZ xyz:DRAM	+0.0171%	1h	61.612	−0.033%	$79.0M	$39.7M	20x	as long as short
GRVT DRAM_USDT_Perp	+0.0177%	8h	61.621	−0.019%	$36K	$190K	10x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0232%	1h	61.510	−0.198%	$510K	$43K	20x	as long as short
Lighter DRAM	+0.0240%	1h	61.638	+0.009%	$991K	$1.2M	20x	as long as short
MEXC DRAM_USDT	+0.0241%	8h	61.630	−0.004%	$11.1M	$6.4M	100x	as long as short
Binance DRAMUSDT	+0.0246%	8h	61.640	+0.013%	$43.7M	$82.6M	50x	as long as short
Extended DRAM-USD	+0.0248%	1h	61.628	−0.007%	$102K	$741K	10x	as long as short
BloFin DRAM-USDT	+0.0263%	8h	61.640	+0.013%	$295K	$26K	20x	as long as short
RISEx DRAM/USDC	+0.0459%	1h	61.632	0.000%	$475K	$439K	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0562%	1h	61.630	−0.004%	$13K	$9K	20x	as long as short
Arcus DRAM-USD	+0.0739%	1h	61.610	−0.036%	$50K	$95K	10x	as long as short