Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.052%

Price spread now: Phemex against Entropy+0.084%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1391.393% of the position

Long on Entropy Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.153%−$15 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.084%, 7d avg +0.002%

Together, before fees−0.220%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.082% dearer against Entropy than usual: you sell high and buy low (spread +0.084% now, against its 7-day average of +0.002%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.5 days. At the pace of the last 5 days (−0.153% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:DRAM	61.758	0.0050	pay 0.0006% / 1h	15m 38s	$172K	$461K	25x
Short	Phemex DRAMUSDT	61.810	0	get 0.0000% / 8h	3h 15m	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Entropy. 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 EntropybpFee PhemexbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$10.5
Price spread: +0.084% → +0.002%: $8.22
Slippage, 4 orders: −$109.33
Fee Entropy: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$141.61
Costs to cover: 1.393%
Break-even: never at this rate

Slippage from Entropy: live order book, 69 min ago; Phemex: live order book, 3 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 Entropy live order book, 69 min ago	2.16 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	1.62 bp	56.2 bp −$56	doesn't fit	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
RISEx DRAM/USDC	0.0000%	1h	61.816	+0.094%	$435K	$500K	20x	as long as short
Bitget DRAMUSDT	0.0000%	8h	61.840	+0.133%	$26.0M	$13.7M	20x	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	61.779	+0.034%	$36K	$188K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.830	+0.117%	$762	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.800	+0.068%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	61.810	+0.084%	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0024%	1h	61.800	+0.068%	$1K	$31K	5x	as long as short
QFEX DRAM-USD	+0.0036%	1h	61.810	+0.084%	$1.0M	$84K	10x	as long as short
Arcus DRAM-USD	+0.0040%	1h	61.780	+0.036%	$48K	$77K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.790	+0.052%	—	—	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Entropy io:DRAMlong	+0.0050%	1h	61.758	long leg	$172K	$461K	25x
Polymarket Perps DRAM-USD	+0.0050%	1h	61.800	+0.068%	$259K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.805	+0.076%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.730	−0.045%	$1.1M	$2.4M	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0056%	8h	61.840	+0.133%	$5.4M	$4.6M	50x	as long as short
Bybit DRAMUSDT	+0.0075%	8h	61.850	+0.149%	$9.6M	$9.9M	100x	as long as short
edgeX DRAMUSDC	+0.0083%	4h	61.763	+0.008%	$150K	$299K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.770	+0.020%	$74K	$47K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.770	+0.019%	$3.0M	$398K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.800	+0.068%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.820	+0.100%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.806	+0.078%	$4K	—	10x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0104%	1h	61.720	−0.062%	$530K	$74K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0110%	8h	61.793	+0.057%	—	—	5x	as long as short
tradeXYZ xyz:DRAM	+0.0132%	1h	61.775	+0.028%	$80.4M	$35.6M	20x	as long as short
Aster DRAMUSDT	+0.0141%	8h	61.793	+0.057%	$199K	$35K	20x	as long as short
Variational Omni DRAM	+0.0197%	8h	61.824	+0.107%	$2.4M	$739K	—	as long as short
Lighter DRAM	+0.0200%	1h	61.806	+0.078%	$1.1M	$1.2M	20x	as long as short
BloFin DRAM-USDT	+0.0225%	8h	61.760	+0.003%	$300K	$26K	20x	as long as short
MEXC DRAM_USDT	+0.0255%	8h	61.820	+0.100%	$8.2M	$5.6M	100x	as long as short
Binance DRAMUSDT	+0.0256%	8h	61.823	+0.106%	$44.3M	$81.7M	50x	as long as short
Extended DRAM-USD	+0.0256%	1h	61.799	+0.067%	$75K	$239K	10x	as long as short
Gate DRAM_USDT	+0.0396%	8h	61.840	+0.133%	$8.1M	$3.6M	75x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0398%	1h	61.810	+0.084%	$13K	$3K	20x	as long as short