Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0280%/8hpaid last 24h +0.060%

Price spread now: Lighter against Phemex+0.016%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1091.094% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.296%+$30 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.016%, 7d avg −0.002%

Together, before fees+0.276%+ Points / potential airdropLighter: Season 3 · farm board+$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DRAMUSDT	61.720	0	get 0.0000% / 8h	4h 22m	$1.8M	$1.2M	10x
Short	Lighter DRAM	61.730	0.0280	get 0.0035% / 1h	22m 03s	$995K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phemex. 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 PhemexbpFee LighterbpOrdersPrice spread, now +0.016%Rate

Funding earned: $58.8
Price spread: +0.016% → −0.002%: $1.82
Slippage, 4 orders: −$97.44
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$48.81
Costs to cover: 1.094%
Break-even: 12.8 days

Slippage from Phemex: live order book, 6 min ago; Lighter: live order book, 8 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 Phemex live order book, 6 min ago	3.24 bp	61.1 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.89 bp	1.0 bp −$1	3.6 bp −$36	43.7 bp −$4,369	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
Aster DRAMUSDT	0.0000%	8h	61.699	−0.034%	$202K	$28K	20x	as long as short
OKX DRAM-USDT-SWAP	0.0000%	8h	61.720	0.000%	$5.4M	$4.8M	50x	as long as short
RISEx DRAM/USDC	0.0000%	1h	61.706	−0.023%	$447K	$426K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	61.740	+0.032%	$8.2M	$3.4M	75x	as long as short
Bitget DRAMUSDT	0.0000%	8h	61.720	0.000%	$25.9M	$11.9M	20x	as long as short
Variational Omni DRAM	0.0000%	8h	61.695	−0.041%	$2.4M	$990K	—	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	61.733	+0.020%	$35K	$184K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.710	−0.016%	$794	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.710	−0.016%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTlong	0.0000%	8h	61.720	long leg	$1.8M	$1.2M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC DRAM_USDT	+0.0002%	8h	61.710	−0.016%	$11.7M	$6.3M	100x	as long as short
Binance DRAMUSDT	+0.0005%	8h	61.720	0.000%	$43.3M	$78.5M	50x	as long as short
Extended DRAM-USD	+0.0008%	1h	61.717	−0.005%	$74K	$712K	10x	as long as short
QFEX DRAM-USD	+0.0038%	1h	61.700	−0.032%	$1.0M	$62K	10x	as long as short
edgeX DRAMUSDC	+0.0045%	4h	61.727	+0.012%	$153K	$289K	20x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.650	−0.113%	—	$797	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.696	−0.039%	$194K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.715	−0.008%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.640	−0.130%	$1.2M	$1.7M	10x	as long as short
Bybit DRAMUSDT	+0.0087%	8h	61.740	+0.032%	$9.1M	$9.7M	100x	as long as short
Pacifica DRAM	+0.0100%	1h	61.709	−0.018%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.710	−0.016%	$3.0M	$460K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.730	+0.016%	$22K	$179K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.730	+0.016%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.715	−0.008%	$4K	—	10x	as long as short
BloFin DRAM-USDT	+0.0120%	8h	61.710	−0.016%	$299K	$26K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0127%	8h	61.702	−0.029%	—	—	5x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0144%	1h	61.370	−0.567%	$508K	$41K	20x	as long as short
Aftermath Perps DRAMUSD	+0.0220%	1h	61.702	−0.030%	$1K	$36K	5x	as long as short
tradeXYZ xyz:DRAM	+0.0227%	1h	61.708	−0.019%	$79.3M	$37.3M	20x	as long as short
Lighter DRAMshort	+0.0280%	1h	61.730	+0.016%	$995K	$1.2M	20x
Entropy io:DRAM	+0.0338%	1h	61.676	−0.071%	$244K	$506K	25x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0399%	1h	61.710	−0.016%	$13K	$9K	20x	as long as short
Arcus DRAM-USD	+0.0404%	1h	61.690	−0.049%	$50K	$99K	10x	as long as short