DRAM

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0268%/8h= −29.3% APRnext payment −$2.68 per $10,000 · paid last 24h −0.050%

Price spread now: Phemex against Bybit+0.016%53s7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1161.159% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now +0.016%, 7d avg −0.015%

Together, before fees−0.117%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.031% dearer against Bybit than usual: you sell high and buy low (spread +0.016% now, against its 7-day average of −0.015%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.100% in total) that is about 2.2 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.100% in total (about -5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.68 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit DRAMUSDT	62.250	0.0268	pay 0.0268% / 8h	5h 28m	$9.7M	$10.1M	100x
Short	Phemex DRAMUSDT	62.260	0	get 0.0000% / 8h	5h 28m	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$56.2
Price spread: +0.016% → −0.015%: $3.12
Slippage, 4 orders: −$92.9
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$168.98
Costs to cover: 1.159%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Phemex: live order book, 5 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, 5 min ago	0.80 bp	7.4 bp −$7	14.8 bp −$148	117.8 bp −$11.8K	doesn't fit
Sell Phemex live order book, 5 min ago	2.41 bp	49.9 bp −$50	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	62.214	−0.058%	$441K	$506K	20x	as long as short
SunX DRAM-USDT	0.0000%	8h	62.210	−0.064%	$958	$2.8M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	62.240	−0.016%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	62.260	+0.016%	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0030%	1h	62.203	−0.076%	$1K	$33K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	62.220	−0.048%	$51K	$81K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	62.190	−0.096%	—	—	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	62.205	−0.072%	$266K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	62.216	−0.055%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	62.130	−0.193%	$1.2M	$2.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX DRAM-USD	+0.0055%	1h	62.200	−0.080%	$1.0M	$78K	10x	as long as short
Entropy io:DRAM	+0.0063%	1h	62.182	−0.109%	$251K	$422K	25x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0072%	1h	62.200	−0.080%	$13K	$3K	20x	as long as short
edgeX DRAMUSDC	+0.0073%	4h	62.261	+0.018%	$151K	$298K	20x	as long as short
Bitget DRAMUSDT	+0.0078%	8h	62.220	−0.048%	$26.2M	$13.2M	20x	as long as short
Pacifica DRAM	+0.0100%	1h	62.210	−0.065%	$76K	$44K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	62.220	−0.048%	$3.0M	$401K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	62.210	−0.064%	$22K	$185K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	62.240	−0.016%	$9K	—	10x	as long as short
Lighter DRAM	+0.0104%	1h	62.192	−0.093%	$967K	$1.0M	20x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	62.239	−0.018%	$4K	—	10x	as long as short
Paradex DRAM-USD-PERP	+0.0134%	8h	62.198	−0.083%	—	—	5x	as long as short
GRVT DRAM_USDT_Perp	+0.0166%	8h	62.270	+0.032%	$37K	$157K	10x	as long as short
tradeXYZ xyz:DRAM	+0.0178%	1h	62.202	−0.077%	$81.7M	$37.2M	20x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0184%	1h	62.040	−0.337%	$534K	$76K	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0192%	8h	62.230	−0.032%	$5.5M	$4.4M	50x	as long as short
Bybit DRAMUSDTlong	+0.0268%	8h	62.250	long leg	$9.7M	$10.1M	100x
Aster DRAMUSDT	+0.0394%	8h	62.240	−0.016%	$200K	$36K	20x	as long as short
Variational Omni DRAM	+0.0480%	8h	62.252	+0.004%	$2.4M	$715K	—	as long as short
Extended DRAM-USD	+0.0512%	1h	62.203	−0.076%	$75K	$669K	10x	as long as short
MEXC DRAM_USDT	+0.0515%	8h	62.220	−0.048%	$9.2M	$5.6M	100x	as long as short
Binance DRAMUSDT	+0.0515%	8h	62.220	−0.048%	$44.7M	$81.7M	50x	as long as short
Gate DRAM_USDT	+0.0540%	8h	62.270	+0.032%	$8.1M	$3.5M	75x	as long as short
BloFin DRAM-USDT	+0.0774%	8h	62.250	0.000%	$301K	$26K	20x	as long as short