Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0311%/8h= +34.1% APRpaid last 24h −0.011%

Price spread now: Bybit against Entropy+0.072%7-day average +0.020% · 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−$46as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on Entropy Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.062%−$6 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now +0.072%, 7d avg +0.020%

Together, before fees−0.037%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bybit is 0.053% dearer against Entropy than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.020%. Mind the row above: over the last 4 days funding on this pair cost −0.062%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.062% in total (about -5.1% a year). A funding rate is set anew for every payment. 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	Entropy io:DRAM	62.179	0.0050	pay 0.0006% / 1h	42m 29s	$253K	$444K	25x
Short	Bybit DRAMUSDT	62.224	0.0361	get 0.0361% / 8h	6h 42m	$9.6M	$10.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Entropy. 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 EntropybpFee BybitbpOrdersPrice spread, now +0.072%Rate

Funding earned: $65.35
Price spread: +0.072% → +0.020%: $5.26
Slippage, 4 orders: −$22.24
Fee Entropy: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $19.37
Costs to cover: 0.512%
Break-even: 4.9 days

Slippage from Entropy: live order book, 3 min ago; Bybit: live order book, 6 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 Entropy live order book, 3 min ago	3.21 bp	17.7 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	0.80 bp	8.6 bp −$9	12.2 bp −$122	122.4 bp −$12.2K	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
SunX DRAM-USDT	0.0000%	8h	62.200	+0.034%	$675	$2.9M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	62.200	+0.034%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	62.180	+0.002%	$1.7M	$1.3M	10x	as long as short
Aftermath Perps DRAMUSD	+0.0034%	1h	62.228	+0.079%	$1K	$34K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	62.210	+0.050%	$50K	$82K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	62.130	−0.079%	—	—	10x	as long as short
QFEX DRAM-USD	+0.0046%	1h	62.170	−0.014%	$1.0M	$78K	10x	as long as short
Entropy io:DRAMlong	+0.0050%	1h	62.179	long leg	$253K	$444K	25x
Polymarket Perps DRAM-USD	+0.0050%	1h	62.174	−0.008%	$266K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	62.175	−0.006%	$2K	$15K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps DRAM-USD.P	+0.0050%	1h	62.180	+0.002%	$1.1M	$1.8M	10x	as long as short
edgeX DRAMUSDC	+0.0096%	4h	62.271	+0.148%	$151K	$297K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	62.150	−0.047%	$76K	$42K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	62.150	−0.047%	$3.0M	$407K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	62.240	+0.098%	$22K	$185K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	62.210	+0.050%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	62.199	+0.032%	$4K	—	10x	as long as short
Lighter DRAM	+0.0112%	1h	62.180	+0.002%	$966K	$1.0M	20x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0152%	1h	62.390	+0.339%	$540K	$90K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0189%	8h	62.166	−0.020%	—	—	5x	as long as short
tradeXYZ xyz:DRAM	+0.0216%	1h	62.154	−0.040%	$81.9M	$37.4M	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0226%	8h	62.190	+0.018%	$5.5M	$4.7M	50x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0233%	1h	62.150	−0.047%	$13K	$3K	20x	as long as short
Bybit DRAMUSDTshort	+0.0361%	8h	62.224	+0.072%	$9.6M	$10.2M	100x
Bitget DRAMUSDT	+0.0431%	8h	62.190	+0.018%	$26.0M	$12.8M	20x	as long as short
Aster DRAMUSDT	+0.0479%	8h	62.181	+0.003%	$200K	$36K	20x	as long as short
Variational Omni DRAM	+0.0573%	8h	62.275	+0.155%	$2.4M	$757K	—	as long as short
Binance DRAMUSDT	+0.0607%	8h	62.183	+0.006%	$44.6M	$82.0M	50x	as long as short
Extended DRAM-USD	+0.0608%	1h	62.169	−0.016%	$75K	$663K	10x	as long as short
MEXC DRAM_USDT	+0.0608%	8h	62.170	−0.014%	$9.7M	$5.9M	100x	as long as short
GRVT DRAM_USDT_Perp	+0.0608%	8h	62.242	+0.101%	$37K	$152K	10x	as long as short
Gate DRAM_USDT	+0.0641%	8h	62.200	+0.034%	$8.2M	$3.4M	75x	as long as short
RISEx DRAM/USDC	+0.0835%	1h	62.183	+0.006%	$449K	$503K	20x	as long as short
BloFin DRAM-USDT	+0.0951%	8h	62.380	+0.323%	$301K	$26K	20x	as long as short