Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.016%

Price spread now: Phemex against QFEX+0.049%7-day average +0.004% · 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−$105as in the Price arb table

costs, in and out, $10k−$1101.098% of the position

Long on QFEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.088%−$9 · spread now +0.049%, 7d avg +0.004%

Together, before fees−0.113%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.045% dearer against QFEX than usual: you sell high and buy low (spread +0.049% now, against its 7-day average of +0.004%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX DRAM-USD	60.870	0.0040	pay 0.0005% / 1h	8m 55s	$991K	$84K	10x
Short	Phemex DRAMUSDT	60.900	0	get 0.0000% / 8h	8m 55s	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against QFEX. 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 QFEXbpFee PhemexbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$8.47
Price spread: +0.049% → +0.004%: $4.54
Slippage, 4 orders: −$87.85
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$113.77
Costs to cover: 1.098%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 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 QFEX live order book, 6 min ago	3.29 bp	8.3 bp −$8	8.3 bp −$83	16.6 bp −$1,665	doesn't fit
Sell Phemex live order book, 4 min ago	2.46 bp	44.4 bp −$44	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
Bitget DRAMUSDT	−0.0765%	8h	60.930	+0.099%	$26.6M	$15.1M	20x	as long as short
Aster DRAMUSDT	0.0000%	8h	60.893	+0.037%	$195K	$38K	20x	as long as short
RISEx DRAM/USDC	0.0000%	1h	60.869	−0.001%	$421K	$340K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	60.930	+0.099%	$8.0M	$3.8M	75x	as long as short
Variational Omni DRAM	0.0000%	8h	60.847	−0.037%	$2.3M	$589K	—	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	60.880	+0.016%	$36K	$209K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	60.880	+0.016%	$720	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	60.880	+0.016%	$27K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	60.900	+0.049%	$1.7M	$1.3M	10x
OKX DRAM-USDT-SWAP	+0.0012%	8h	60.890	+0.033%	$5.4M	$6.0M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended DRAM-USD	+0.0016%	1h	60.866	−0.007%	$74K	$198K	10x	as long as short
Binance DRAMUSDT	+0.0018%	8h	60.880	+0.016%	$43.8M	$89.1M	50x	as long as short
MEXC DRAM_USDT	+0.0018%	8h	60.870	0.000%	$8.4M	$5.7M	100x	as long as short
Bybit DRAMUSDT	+0.0024%	8h	60.906	+0.059%	$9.6M	$10.4M	100x	as long as short
Aftermath Perps DRAMUSD	+0.0038%	1h	60.859	−0.018%	$1K	$29K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	60.840	−0.049%	$47K	$67K	10x	as long as short
QFEX DRAM-USDlong	+0.0040%	1h	60.870	long leg	$991K	$84K	10x
Vest DRAM-USD-PERP	+0.0046%	1h	60.860	−0.016%	—	—	10x	as long as short
BloFin DRAM-USDT	+0.0047%	8h	60.890	+0.033%	$297K	$26K	20x	as long as short
Entropy io:DRAM	+0.0050%	1h	60.837	−0.054%	$179K	$479K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	60.849	−0.034%	$253K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	60.885	+0.025%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	60.830	−0.066%	$1.1M	$3.5M	10x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0079%	1h	60.870	0.000%	$13K	$3K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0096%	8h	60.876	+0.010%	—	—	5x	as long as short
edgeX DRAMUSDC	+0.0100%	4h	60.849	−0.035%	$147K	$298K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	60.887	+0.028%	$73K	$34K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	60.860	−0.016%	$3.0M	$421K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	60.870	0.000%	$21K	$183K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	60.880	+0.016%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	60.874	+0.007%	$4K	—	10x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0176%	1h	60.940	+0.115%	$523K	$75K	20x	as long as short
tradeXYZ xyz:DRAM	+0.0181%	1h	60.836	−0.056%	$78.7M	$35.7M	20x	as long as short
Lighter DRAM	+0.0360%	1h	60.903	+0.054%	$1.1M	$1.2M	20x	as long as short