Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0208%/8h= −22.8% APRpaid last 24h −0.044%

Price spread now: Phemex against Lighter+0.010%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1141.138% of the position

Long on Lighter Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.287%−$29 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.010%, 7d avg +0.008%

Together, before fees−0.294%+ Points / potential airdropLighter: Season 3 · farm board−$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DRAM	61.774	0.0208	pay 0.0026% / 1h	14m 03s	$1.1M	$1.2M	20x
Short	Phemex DRAMUSDT	61.780	0	get 0.0000% / 8h	3h 14m	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$43.68
Price spread: +0.010% → +0.008%: $0.18
Slippage, 4 orders: −$101.78
Fee Lighter: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$157.28
Costs to cover: 1.138%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Phemex: 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 Lighter live order book, 2 min ago	0.57 bp	0.6 bp −$1	2.2 bp −$22	39.9 bp −$3,993	doesn't fit
Sell Phemex live order book, 4 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	61.764	−0.016%	$435K	$500K	20x	as long as short
Bitget DRAMUSDT	0.0000%	8h	61.780	+0.010%	$26.0M	$13.7M	20x	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	61.779	+0.008%	$36K	$188K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.770	−0.006%	$823	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.800	+0.042%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	61.780	+0.010%	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0024%	1h	61.760	−0.023%	$1K	$32K	5x	as long as short
QFEX DRAM-USD	+0.0036%	1h	61.760	−0.023%	$1.0M	$84K	10x	as long as short
Arcus DRAM-USD	+0.0040%	1h	61.770	−0.006%	$48K	$77K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.730	−0.071%	—	—	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:DRAM	+0.0050%	1h	61.746	−0.045%	$172K	$461K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.740	−0.055%	$259K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.765	−0.015%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.720	−0.087%	$1.1M	$2.4M	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0056%	8h	61.780	+0.010%	$5.4M	$4.6M	50x	as long as short
Bybit DRAMUSDT	+0.0071%	8h	61.780	+0.010%	$9.6M	$9.9M	100x	as long as short
edgeX DRAMUSDC	+0.0083%	4h	61.763	−0.018%	$150K	$299K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.745	−0.048%	$74K	$47K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.740	−0.055%	$3.0M	$398K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.760	−0.023%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.780	+0.010%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.767	−0.012%	$4K	—	10x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0104%	1h	61.720	−0.087%	$530K	$74K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0109%	8h	61.760	−0.023%	—	—	5x	as long as short
tradeXYZ xyz:DRAM	+0.0131%	1h	61.740	−0.055%	$80.3M	$35.6M	20x	as long as short
Aster DRAMUSDT	+0.0140%	8h	61.758	−0.026%	$199K	$35K	20x	as long as short
Variational Omni DRAM	+0.0197%	8h	61.824	+0.081%	$2.4M	$739K	—	as long as short
Lighter DRAMlong	+0.0208%	1h	61.774	long leg	$1.1M	$1.2M	20x
BloFin DRAM-USDT	+0.0226%	8h	61.830	+0.091%	$300K	$26K	20x	as long as short
Binance DRAMUSDT	+0.0255%	8h	61.761	−0.022%	$44.2M	$81.7M	50x	as long as short
MEXC DRAM_USDT	+0.0255%	8h	61.760	−0.023%	$8.2M	$5.6M	100x	as long as short
Extended DRAM-USD	+0.0256%	1h	61.747	−0.044%	$75K	$239K	10x	as long as short
Gate DRAM_USDT	+0.0389%	8h	61.790	+0.026%	$8.1M	$3.6M	75x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0398%	1h	61.750	−0.039%	$13K	$3K	20x	as long as short