Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.018%

Price spread now: KuCoin against Lighter−0.040%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$740.739% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 7 days−0.005%$0 · spread now −0.040%, 7d avg −0.015%

Together, before fees−0.104%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and KuCoin is 0.025% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DRAM	62.305	0.0160	pay 0.0020% / 1h	50m 26s	$968K	$1.0M	20x
Short	KuCoin DRAMUSDTM	62.280	0.0100	get 0.0100% / 8h	5h 50m	$3.0M	$404K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. 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 LighterbpFee KuCoinbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$12.6
Price spread: −0.040% → −0.015%: −$2.49
Slippage, 4 orders: −$61.87
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$88.95
Costs to cover: 0.739%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; KuCoin: live order book, 2 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 Lighter live order book, 5 min ago	0.80 bp	0.8 bp −$1	2.4 bp −$24	35.9 bp −$3,586	doesn't fit
Sell KuCoin live order book, 2 min ago	1.61 bp	33.2 bp −$33	doesn't fit	doesn't fit	doesn't fit

DRAM on 33 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	62.300	−0.008%	$442K	$506K	20x	as long as short
SunX DRAM-USDT	0.0000%	8h	62.310	+0.008%	$777	$2.8M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	62.280	−0.040%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	62.330	+0.040%	$1.7M	$1.3M	10x	as long as short
Aftermath Perps DRAMUSD	+0.0032%	1h	62.260	−0.072%	$1K	$33K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	62.290	−0.024%	$51K	$81K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	62.250	−0.088%	—	—	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	62.264	−0.066%	$266K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	62.314	+0.014%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	62.230	−0.120%	$1.2M	$1.9M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX DRAM-USD	+0.0055%	1h	62.280	−0.040%	$1.0M	$78K	10x	as long as short
edgeX DRAMUSDC	+0.0058%	4h	62.298	−0.012%	$151K	$297K	20x	as long as short
Entropy io:DRAM	+0.0099%	1h	62.248	−0.091%	$253K	$421K	25x	as long as short
Pacifica DRAM	+0.0100%	1h	62.325	+0.033%	$76K	$44K	10x	as long as short
KuCoin DRAMUSDTMshort	+0.0100%	8h	62.280	−0.040%	$3.0M	$404K	20x
ApeX Omni DRAMUSDT	+0.0100%	1h	62.320	+0.024%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	62.330	+0.040%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	62.333	+0.045%	$4K	—	10x	as long as short
Bitget DRAMUSDT	+0.0134%	8h	62.290	−0.024%	$26.2M	$13.2M	20x	as long as short
Paradex DRAM-USD-PERP	+0.0148%	8h	62.303	−0.003%	—	—	5x	as long as short
Lighter DRAMlong	+0.0160%	1h	62.305	long leg	$968K	$1.0M	20x
Coinbase International DRAM-PERP-INTX	+0.0184%	1h	62.040	−0.425%	$534K	$76K	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0211%	8h	62.310	+0.008%	$5.5M	$4.5M	50x	as long as short
tradeXYZ xyz:DRAM	+0.0214%	1h	62.263	−0.067%	$82.1M	$36.9M	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0232%	1h	62.300	−0.008%	$13K	$3K	20x	as long as short
GRVT DRAM_USDT_Perp	+0.0238%	8h	62.318	+0.020%	$37K	$155K	10x	as long as short
Bybit DRAMUSDT	+0.0294%	8h	62.359	+0.087%	$9.7M	$10.0M	100x	as long as short
Aster DRAMUSDT	+0.0430%	8h	62.322	+0.027%	$200K	$36K	20x	as long as short
Variational Omni DRAM	+0.0513%	8h	62.303	−0.003%	$2.4M	$710K	—	as long as short
Gate DRAM_USDT	+0.0531%	8h	62.360	+0.088%	$8.2M	$3.5M	75x	as long as short
Binance DRAMUSDT	+0.0551%	8h	62.290	−0.024%	$44.7M	$81.4M	50x	as long as short
Extended DRAM-USD	+0.0552%	1h	62.283	−0.035%	$75K	$669K	10x	as long as short
MEXC DRAM_USDT	+0.0552%	8h	62.290	−0.024%	$9.6M	$5.5M	100x	as long as short