Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0224%/8h= +24.5% APRpaid last 24h −0.005%

Price spread now: Lighter against Bybit−0.011%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$170.174% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.189%+$19 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.011%, 7d avg −0.045%

Together, before fees+0.200%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Lighter is 0.034% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit DRAMUSDT	61.080	0	get 0.0000% / 8h	1h 15m	$9.4M	$10.3M	100x
Short	Lighter DRAM	61.073	0.0224	get 0.0028% / 1h	15m 39s	$1.1M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.011%Rate

Funding earned: $47.04
Price spread: −0.011% → −0.045%: $3.36
Slippage, 4 orders: −$6.36
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $33.03
Costs to cover: 0.174%
Break-even: 2.1 days

Slippage from Bybit: live order book, 2 min ago; Lighter: live order book, 10 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 Bybit live order book, 2 min ago	1.63 bp	7.6 bp −$8	12.3 bp −$123	127.2 bp −$12.7K	doesn't fit
Sell Lighter live order book, 10 min ago	0.49 bp	0.6 bp −$1	1.5 bp −$15	35.6 bp −$3,560	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	−0.0601%	8h	61.070	−0.016%	$26.0M	$14.7M	20x	as long as short
Aster DRAMUSDT	0.0000%	8h	61.079	−0.002%	$196K	$35K	20x	as long as short
Bybit DRAMUSDTlong	0.0000%	8h	61.080	long leg	$9.4M	$10.3M	100x
OKX DRAM-USDT-SWAP	0.0000%	8h	61.060	−0.033%	$5.4M	$5.9M	50x	as long as short
RISEx DRAM/USDC	0.0000%	1h	61.047	−0.054%	$423K	$353K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	61.090	+0.016%	$8.0M	$3.7M	75x	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	61.134	+0.088%	$36K	$203K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.050	−0.049%	$709	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.020	−0.098%	$27K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.050	−0.049%	$1.7M	$1.3M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin DRAM-USDT	+0.0004%	8h	61.140	+0.098%	$298K	$26K	20x	as long as short
Variational Omni DRAM	+0.0011%	8h	61.034	−0.075%	$2.3M	$683K	—	as long as short
Aftermath Perps DRAMUSD	+0.0030%	1h	61.079	−0.002%	$1K	$30K	5x	as long as short
edgeX DRAMUSDC	+0.0031%	4h	61.104	+0.039%	$148K	$299K	20x	as long as short
QFEX DRAM-USD	+0.0039%	1h	61.050	−0.049%	$994K	$84K	10x	as long as short
Arcus DRAM-USD	+0.0040%	1h	61.070	−0.016%	$48K	$68K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.070	−0.016%	—	—	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	61.049	−0.051%	$180K	$481K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.025	−0.090%	$254K	$1.4M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.045	−0.057%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	60.990	−0.147%	$1.1M	$3.5M	10x	as long as short
Binance DRAMUSDT	+0.0068%	8h	61.040	−0.065%	$43.7M	$87.9M	50x	as long as short
MEXC DRAM_USDT	+0.0070%	8h	61.040	−0.065%	$8.0M	$5.7M	100x	as long as short
Extended DRAM-USD	+0.0072%	1h	61.028	−0.086%	$74K	$190K	10x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0078%	1h	61.030	−0.082%	$13K	$3K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0086%	8h	61.045	−0.057%	—	—	5x	as long as short
tradeXYZ xyz:DRAM	+0.0097%	1h	61.029	−0.083%	$79.0M	$35.8M	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.054	−0.043%	$73K	$46K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.040	−0.065%	$3.0M	$418K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.110	+0.049%	$21K	$185K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.050	−0.049%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.052	−0.047%	$4K	—	10x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0160%	1h	61.110	+0.049%	$525K	$75K	20x	as long as short
Lighter DRAMshort	+0.0224%	1h	61.073	−0.011%	$1.1M	$1.2M	20x