Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0176%/8h= +19.3% APRpaid last 24h +0.045%

Price spread now: Coinbase International against Phemex+0.131%7-day average −0.161% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$1181.176% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.354%+$35 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.131%, 7d avg −0.161%

Together, before fees+0.301%+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.293% dearer against Phemex than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.161%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DRAMUSDT	60.860	0	get 0.0000% / 8h	4m 30s	$1.7M	$1.3M	10x
Short	Coinbase International DRAM-PERP-INTX	60.940	0.0176	get 0.0022% / 1h	4m 30s	$523K	$75K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phemex. 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 PhemexbpFee Coinbase InternationalbpOrdersPrice spread, now +0.131%Rate

Funding earned: $36.96
Price spread: +0.131% → −0.161%: $29.29
Slippage, 4 orders: −$95.57
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$51.32
Costs to cover: 1.176%
Break-even: 16.7 days

Slippage from Phemex: live order book, 4 min ago; Coinbase International: live order book, 34 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 Phemex live order book, 4 min ago	0.82 bp	51.7 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 34 min ago	4.92 bp	13.1 bp −$13	16.9 bp −$169	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
Bitget DRAMUSDT	−0.0764%	8h	60.910	+0.082%	$26.6M	$15.1M	20x	as long as short
Aster DRAMUSDT	0.0000%	8h	60.873	+0.021%	$195K	$38K	20x	as long as short
RISEx DRAM/USDC	0.0000%	1h	60.856	−0.007%	$421K	$339K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	60.910	+0.082%	$8.0M	$3.8M	75x	as long as short
Variational Omni DRAM	0.0000%	8h	60.867	+0.011%	$2.3M	$589K	—	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	60.888	+0.047%	$36K	$209K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	60.870	+0.016%	$796	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	60.840	−0.033%	$27K	$3K	20x	as long as short
Phemex DRAMUSDTlong	0.0000%	8h	60.860	long leg	$1.7M	$1.3M	10x
OKX DRAM-USDT-SWAP	+0.0010%	8h	60.870	+0.016%	$5.4M	$6.0M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DRAMUSDT	+0.0011%	8h	60.866	+0.009%	$43.8M	$89.0M	50x	as long as short
MEXC DRAM_USDT	+0.0012%	8h	60.860	0.000%	$8.4M	$5.7M	100x	as long as short
Extended DRAM-USD	+0.0016%	1h	60.853	−0.012%	$74K	$198K	10x	as long as short
Bybit DRAMUSDT	+0.0021%	8h	60.890	+0.049%	$9.6M	$10.4M	100x	as long as short
Aftermath Perps DRAMUSD	+0.0038%	1h	60.864	+0.007%	$1K	$29K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	60.840	−0.033%	$47K	$67K	10x	as long as short
QFEX DRAM-USD	+0.0040%	1h	60.850	−0.016%	$991K	$84K	10x	as long as short
BloFin DRAM-USDT	+0.0043%	8h	60.890	+0.049%	$298K	$26K	20x	as long as short
edgeX DRAMUSDC	+0.0045%	4h	60.863	+0.006%	$148K	$299K	20x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	60.840	−0.033%	—	—	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	60.828	−0.053%	$179K	$479K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	60.848	−0.020%	$253K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	60.861	+0.002%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	60.820	−0.066%	$1.1M	$3.5M	10x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0079%	1h	60.840	−0.033%	$13K	$3K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0091%	8h	60.852	−0.014%	—	—	5x	as long as short
Pacifica DRAM	+0.0100%	1h	60.870	+0.017%	$73K	$34K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	60.850	−0.016%	$3.0M	$420K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	60.890	+0.049%	$21K	$183K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	60.870	+0.016%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	60.859	−0.001%	$4K	—	10x	as long as short
Coinbase International DRAM-PERP-INTXshort	+0.0176%	1h	60.940	+0.131%	$523K	$75K	20x
tradeXYZ xyz:DRAM	+0.0180%	1h	60.834	−0.043%	$78.7M	$35.7M	20x	as long as short
Lighter DRAM	+0.0344%	1h	60.870	+0.016%	$1.1M	$1.2M	20x	as long as short