Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h +0.057%

Price spread now: Entropy against Phemex−0.064%7-day average 0.000% · you buy dearer than you sell

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

Long on Phemex Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.150%+$15 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.064%, 7d avg 0.000%

Together, before fees+0.215%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 0.064% cheaper against Phemex than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of 0.000%). If the spread goes back, that is −$6 on $10k: about 3.4 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DRAMUSDT	62.220	0	get 0.0000% / 8h	5h 26m	$1.7M	$1.3M	10x
Short	Entropy io:DRAM	62.180	0.0063	get 0.0008% / 1h	26m 46s	$250K	$422K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy 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 EntropybpOrdersPrice spread, now −0.064%Rate

Funding earned: $13.23
Price spread: −0.064% → 0.000%: −$6.39
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$23.16
Costs to cover: 0.300%
Break-even: 19.2 days

Slippage unknown: Phemex: live order book, 1 min ago; Entropy: live order book, 8 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 Phemex live order book, 1 min ago	4.02 bp	59.3 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 8 min ago	2.49 bp	doesn't fit	doesn't fit	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
RISEx DRAM/USDC	0.0000%	1h	62.222	+0.003%	$442K	$506K	20x	as long as short
SunX DRAM-USDT	0.0000%	8h	62.210	−0.016%	$719	$2.8M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	62.210	−0.016%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTlong	0.0000%	8h	62.220	long leg	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0030%	1h	62.193	−0.043%	$1K	$33K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	62.200	−0.032%	$51K	$81K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	62.180	−0.064%	—	—	10x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	62.178	−0.068%	$266K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	62.204	−0.026%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	62.140	−0.129%	$1.1M	$2.1M	10x	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	+0.0055%	1h	62.180	−0.064%	$1.0M	$78K	10x	as long as short
Entropy io:DRAMshort	+0.0063%	1h	62.180	−0.064%	$250K	$422K	25x
edgeX DRAMUSDC	+0.0067%	4h	62.242	+0.035%	$151K	$296K	20x	as long as short
Bitget DRAMUSDT	+0.0069%	8h	62.220	0.000%	$26.2M	$13.2M	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0072%	1h	62.190	−0.048%	$13K	$3K	20x	as long as short
Lighter DRAM	+0.0096%	1h	62.211	−0.014%	$967K	$1.0M	20x	as long as short
Pacifica DRAM	+0.0100%	1h	62.221	+0.001%	$76K	$44K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	62.210	−0.016%	$3.0M	$401K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	62.210	−0.016%	$22K	$185K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	62.220	0.000%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	62.217	−0.005%	$4K	—	10x	as long as short
Paradex DRAM-USD-PERP	+0.0131%	8h	62.204	−0.026%	—	—	5x	as long as short
GRVT DRAM_USDT_Perp	+0.0162%	8h	62.270	+0.080%	$36K	$158K	10x	as long as short
tradeXYZ xyz:DRAM	+0.0169%	1h	62.201	−0.031%	$81.7M	$37.2M	20x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0184%	1h	62.040	−0.289%	$534K	$74K	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0190%	8h	62.220	0.000%	$5.5M	$4.4M	50x	as long as short
Bybit DRAMUSDT	+0.0258%	8h	62.250	+0.048%	$9.7M	$10.1M	100x	as long as short
Aster DRAMUSDT	+0.0391%	8h	62.230	+0.016%	$200K	$36K	20x	as long as short
Variational Omni DRAM	+0.0480%	8h	62.252	+0.052%	$2.4M	$715K	—	as long as short
Binance DRAMUSDT	+0.0511%	8h	62.219	−0.002%	$44.7M	$81.7M	50x	as long as short
Extended DRAM-USD	+0.0512%	1h	62.191	−0.047%	$75K	$669K	10x	as long as short
MEXC DRAM_USDT	+0.0513%	8h	62.210	−0.016%	$9.2M	$5.6M	100x	as long as short
Gate DRAM_USDT	+0.0532%	8h	62.260	+0.064%	$8.1M	$3.6M	75x	as long as short
BloFin DRAM-USDT	+0.0768%	8h	62.210	−0.016%	$301K	$26K	20x	as long as short