Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0140%/8h= −15.3% APRpaid last 24h −0.013%

Price spread now: Orderly against Lighter−0.085%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.085% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DRAM	61.462	0.0240	pay 0.0030% / 1h	3m 11s	$1.1M	$1.2M	20x
Short	Orderly PERP_DRAM_USDC_mythos	61.410	0.0100	get 0.0100% / 8h	2h 03m	$8K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.085%Rate

Funding earned: −$29.4
Price spread: −0.085% → 0.000%: −$8.46
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$43.86
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 3 min ago; Orderly: no order-book sample. Net counts fees only.

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, 3 min ago	1.38 bp	1.5 bp −$1	3.1 bp −$31	45.3 bp −$4,533	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0465%	8h	61.430	−0.052%	$26.1M	$14.5M	20x	as long as short
RISEx DRAM/USDC	0.0000%	1h	61.419	−0.070%	$425K	$506K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	61.500	+0.062%	$8.0M	$3.7M	75x	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	61.462	0.000%	$36K	$196K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.420	−0.068%	$906	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.370	−0.150%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.440	−0.036%	$1.7M	$1.3M	10x	as long as short
Bybit DRAMUSDT	+0.0012%	8h	61.460	−0.003%	$9.4M	$10.2M	100x	as long as short
Aftermath Perps DRAMUSD	+0.0028%	1h	61.364	−0.160%	$1K	$31K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	61.390	−0.117%	$48K	$69K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest DRAM-USD-PERP	+0.0046%	1h	61.390	−0.117%	—	—	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0046%	8h	61.450	−0.020%	$5.5M	$5.7M	50x	as long as short
QFEX DRAM-USD	+0.0050%	1h	61.400	−0.101%	$1.0M	$84K	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.392	−0.114%	$255K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.427	−0.057%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.380	−0.133%	$1.1M	$3.4M	10x	as long as short
Aster DRAMUSDT	+0.0058%	8h	61.451	−0.018%	$198K	$35K	20x	as long as short
Entropy io:DRAM	+0.0071%	1h	61.367	−0.155%	$170K	$470K	25x	as long as short
edgeX DRAMUSDC	+0.0073%	4h	61.428	−0.055%	$149K	$298K	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0076%	1h	61.410	−0.085%	$13K	$3K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.366	−0.156%	$74K	$49K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.410	−0.085%	$3.0M	$411K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.440	−0.036%	$21K	$185K	50x	as long as short
Orderly PERP_DRAM_USDC_mythosshort	+0.0100%	8h	61.410	−0.085%	$8K	—	10x
Aevo DRAM-PERP	+0.0104%	1h	61.421	−0.067%	$4K	—	10x	as long as short
Variational Omni DRAM	+0.0106%	8h	61.444	−0.029%	$2.3M	$669K	—	as long as short
Paradex DRAM-USD-PERP	+0.0119%	8h	61.411	−0.083%	—	—	5x	as long as short
tradeXYZ xyz:DRAM	+0.0147%	1h	61.426	−0.059%	$79.6M	$36.1M	20x	as long as short
Extended DRAM-USD	+0.0160%	1h	61.401	−0.099%	$76K	$188K	10x	as long as short
Binance DRAMUSDT	+0.0163%	8h	61.435	−0.044%	$44.0M	$87.0M	50x	as long as short
MEXC DRAM_USDT	+0.0165%	8h	61.430	−0.052%	$8.1M	$5.7M	100x	as long as short
BloFin DRAM-USDT	+0.0183%	8h	61.430	−0.052%	$298K	$26K	20x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0184%	1h	61.110	−0.573%	$525K	$75K	20x	as long as short
Lighter DRAMlong	+0.0240%	1h	61.462	long leg	$1.1M	$1.2M	20x