Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h −0.011%

Price spread now: Bybit against Lighter+0.089%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$160.159% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

Price spread, last 7 days−0.099%−$10 · spread now +0.089%, 7d avg +0.042%

Together, before fees−0.311%+ Points / potential airdropLighter: Season 3 · farm board−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.046% dearer against Lighter than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.042%. Mind the row above: over the last 7 days funding on this pair cost −0.212%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DRAM	61.985	0.0192	pay 0.0024% / 1h	45m 50s	$978K	$1.2M	20x
Short	Bybit DRAMUSDT	62.040	0.0274	get 0.0274% / 8h	45m 50s	$9.3M	$10.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now +0.089%Rate

Funding earned: $17.19
Price spread: +0.089% → +0.042%: $4.63
Slippage, 4 orders: −$4.87
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $5.95
Costs to cover: 0.159%
Break-even: 4.6 days

Slippage from Lighter: live order book, 5 min ago; Bybit: live order book, 2 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 Lighter live order book, 5 min ago	0.65 bp	0.8 bp −$1	1.5 bp −$15	41.7 bp −$4,172	doesn't fit
Sell Bybit live order book, 2 min ago	0.81 bp	6.9 bp −$7	12.1 bp −$121	104.8 bp −$10.5K	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
Gate DRAM_USDT	0.0000%	8h	62.010	+0.040%	$8.3M	$3.4M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.990	+0.008%	$486	$3.2M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.910	−0.121%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.880	−0.169%	$1.8M	$1.3M	10x	as long as short
Aftermath Perps DRAMUSD	+0.0035%	1h	61.921	−0.103%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.870	−0.186%	—	$797	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.958	−0.044%	$211K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.983	−0.003%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.900	−0.137%	$1.2M	$1.8M	10x	as long as short
edgeX DRAMUSDC	+0.0066%	4h	61.944	−0.067%	$153K	$290K	20x	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	+0.0079%	1h	61.930	−0.089%	$1.0M	$80K	10x	as long as short
Pacifica DRAM	+0.0100%	1h	61.994	+0.015%	$76K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.910	−0.121%	$3.0M	$475K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.940	−0.073%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.980	−0.008%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.987	+0.003%	$4K	—	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0138%	8h	61.990	+0.008%	$5.4M	$4.6M	50x	as long as short
Bitget DRAMUSDT	+0.0141%	8h	61.990	+0.008%	$26.0M	$12.7M	20x	as long as short
Aster DRAMUSDT	+0.0158%	8h	61.999	+0.022%	$199K	$36K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0169%	8h	61.972	−0.020%	—	—	5x	as long as short
GRVT DRAM_USDT_Perp	+0.0176%	8h	61.941	−0.072%	$36K	$178K	10x	as long as short
Lighter DRAMlong	+0.0192%	1h	61.985	long leg	$978K	$1.2M	20x
Coinbase International DRAM-PERP-INTX	+0.0192%	1h	61.580	−0.653%	$510K	$43K	20x	as long as short
Variational Omni DRAM	+0.0237%	8h	61.947	−0.061%	$2.4M	$948K	—	as long as short
Entropy io:DRAM	+0.0247%	1h	61.896	−0.144%	$260K	$502K	25x	as long as short
Bybit DRAMUSDTshort	+0.0274%	8h	62.040	+0.089%	$9.3M	$10.4M	100x
MEXC DRAM_USDT	+0.0291%	8h	61.980	−0.008%	$11.2M	$6.5M	100x	as long as short
Binance DRAMUSDT	+0.0294%	8h	61.980	−0.008%	$43.9M	$82.5M	50x	as long as short
RISEx DRAM/USDC	+0.0295%	1h	61.990	+0.008%	$457K	$475K	20x	as long as short
Extended DRAM-USD	+0.0296%	1h	61.969	−0.026%	$77K	$766K	10x	as long as short
tradeXYZ xyz:DRAM	+0.0302%	1h	61.987	+0.003%	$80.4M	$39.8M	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0396%	1h	61.980	−0.008%	$13K	$9K	20x	as long as short
BloFin DRAM-USDT	+0.0543%	8h	61.950	−0.056%	$295K	$27K	20x	as long as short
Arcus DRAM-USD	+0.0680%	1h	61.970	−0.024%	$50K	$89K	10x	as long as short