Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8hnext payment −$1.00 per $10,000 · paid last 24h −0.030%

Price spread now: Phemex against Orderly−0.032%53s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Phemex

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—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.032% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_DRAM_USDC_mythos	61.670	0.0100	pay 0.0100% / 8h	4h 04m	$8K	—	10x
Short	Phemex DRAMUSDT	61.650	0	get 0.0000% / 8h	4h 04m	$1.8M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Orderly. 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 OrderlybpFee PhemexbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$21
Price spread: −0.032% → 0.000%: −$3.24
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$42.24
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 3 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	1.62 bp	49.9 bp −$50	doesn't fit	doesn't fit	doesn't fit

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
Aster DRAMUSDT	0.0000%	8h	61.648	−0.036%	$202K	$33K	20x	as long as short
OKX DRAM-USDT-SWAP	0.0000%	8h	61.670	0.000%	$5.4M	$4.8M	50x	as long as short
RISEx DRAM/USDC	0.0000%	1h	61.630	−0.065%	$446K	$426K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	61.660	−0.016%	$8.2M	$3.4M	75x	as long as short
Bitget DRAMUSDT	0.0000%	8h	61.650	−0.032%	$25.9M	$12.4M	20x	as long as short
Variational Omni DRAM	0.0000%	8h	61.655	−0.025%	$2.4M	$995K	—	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	61.694	+0.039%	$36K	$188K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.630	−0.065%	$748	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.650	−0.032%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	61.650	−0.032%	$1.8M	$1.3M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC DRAM_USDT	+0.0029%	8h	61.640	−0.049%	$11.2M	$6.3M	100x	as long as short
Binance DRAMUSDT	+0.0032%	8h	61.662	−0.014%	$43.6M	$80.7M	50x	as long as short
Extended DRAM-USD	+0.0032%	1h	61.626	−0.071%	$74K	$712K	10x	as long as short
QFEX DRAM-USD	+0.0038%	1h	61.630	−0.065%	$1.0M	$68K	10x	as long as short
edgeX DRAMUSDC	+0.0044%	4h	61.728	+0.093%	$153K	$289K	20x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.600	−0.114%	—	$797	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.626	−0.071%	$193K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.630	−0.065%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.560	−0.178%	$1.2M	$1.7M	10x	as long as short
Pacifica DRAM	+0.0100%	1h	61.633	−0.060%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.640	−0.049%	$3.0M	$467K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.700	+0.049%	$22K	$181K	50x	as long as short
Orderly PERP_DRAM_USDC_mythoslong	+0.0100%	8h	61.670	long leg	$8K	—	10x
Aevo DRAM-PERP	+0.0104%	1h	61.634	−0.058%	$4K	—	10x	as long as short
Bybit DRAMUSDT	+0.0118%	8h	61.680	+0.016%	$9.2M	$10.0M	100x	as long as short
BloFin DRAM-USDT	+0.0120%	8h	61.610	−0.097%	$297K	$26K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0135%	8h	61.654	−0.025%	—	—	5x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0144%	1h	61.370	−0.486%	$508K	$41K	20x	as long as short
tradeXYZ xyz:DRAM	+0.0233%	1h	61.651	−0.031%	$78.7M	$39.4M	20x	as long as short
Aftermath Perps DRAMUSD	+0.0234%	1h	61.645	−0.041%	$1K	$36K	5x	as long as short
Lighter DRAM	+0.0280%	1h	61.616	−0.088%	$993K	$1.2M	20x	as long as short
Entropy io:DRAM	+0.0343%	1h	61.641	−0.047%	$243K	$492K	25x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0400%	1h	61.620	−0.081%	$13K	$9K	20x	as long as short
Arcus DRAM-USD	+0.0404%	1h	61.620	−0.081%	$50K	$100K	10x	as long as short