Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h +0.044%

Price spread now: Lighter against Phemex−0.005%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

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

costs, in and out, $10k−$880.885% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.287%+$29 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.005%, 7d avg −0.008%

Together, before fees+0.289%+ Points / potential airdropLighter: Season 3 · farm board+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DRAMUSDT	61.570	0	get 0.0000% / 8h	3h 07m	$1.7M	$1.3M	10x
Short	Lighter DRAM	61.567	0.0208	get 0.0026% / 1h	7m 01s	$1.1M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.005%Rate

Funding earned: $43.68
Price spread: −0.005% → −0.008%: $0.3
Slippage, 4 orders: −$76.5
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$44.51
Costs to cover: 0.885%
Break-even: 14.1 days

Slippage from Phemex: live order book, 1 min ago; Lighter: live order book, 4 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, 1 min ago	3.25 bp	39.0 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.81 bp	0.8 bp −$1	2.5 bp −$25	57.4 bp −$5,739	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	61.574	+0.006%	$433K	$501K	20x	as long as short
Bitget DRAMUSDT	0.0000%	8h	61.570	0.000%	$26.0M	$13.7M	20x	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	61.527	−0.069%	$37K	$189K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.550	−0.032%	$785	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.680	+0.179%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTlong	0.0000%	8h	61.570	long leg	$1.7M	$1.3M	10x
edgeX DRAMUSDC	+0.0015%	4h	61.519	−0.082%	$149K	$298K	20x	as long as short
Aftermath Perps DRAMUSD	+0.0025%	1h	61.581	+0.017%	$1K	$31K	5x	as long as short
QFEX DRAM-USD	+0.0036%	1h	61.570	0.000%	$1.0M	$84K	10x	as long as short
Arcus DRAM-USD	+0.0040%	1h	61.550	−0.032%	$48K	$77K	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	61.530	−0.065%	—	—	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	61.558	−0.019%	$170K	$464K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.550	−0.032%	$258K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.538	−0.052%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.490	−0.130%	$1.1M	$2.4M	10x	as long as short
OKX DRAM-USDT-SWAP	+0.0053%	8h	61.610	+0.065%	$5.4M	$4.6M	50x	as long as short
Bybit DRAMUSDT	+0.0065%	8h	61.621	+0.083%	$9.5M	$9.9M	100x	as long as short
Pacifica DRAM	+0.0100%	1h	61.554	−0.026%	$74K	$49K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.540	−0.049%	$3.0M	$399K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.550	−0.032%	$21K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.560	−0.016%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.562	−0.012%	$4K	—	10x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0104%	1h	61.510	−0.097%	$528K	$74K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0109%	8h	61.560	−0.016%	—	—	5x	as long as short
Aster DRAMUSDT	+0.0131%	8h	61.576	+0.009%	$198K	$35K	20x	as long as short
tradeXYZ xyz:DRAM	+0.0138%	1h	61.561	−0.015%	$80.1M	$35.6M	20x	as long as short
Variational Omni DRAM	+0.0190%	8h	61.564	−0.010%	$2.4M	$740K	—	as long as short
Lighter DRAMshort	+0.0208%	1h	61.567	−0.005%	$1.1M	$1.2M	20x
BloFin DRAM-USDT	+0.0210%	8h	61.570	0.000%	$299K	$26K	20x	as long as short
Binance DRAMUSDT	+0.0245%	8h	61.576	+0.010%	$44.0M	$82.3M	50x	as long as short
MEXC DRAM_USDT	+0.0246%	8h	61.560	−0.016%	$9.0M	$5.7M	100x	as long as short
Extended DRAM-USD	+0.0248%	1h	61.544	−0.042%	$75K	$239K	10x	as long as short
Gate DRAM_USDT	+0.0345%	8h	61.610	+0.065%	$8.1M	$3.6M	75x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0400%	1h	61.550	−0.032%	$13K	$3K	20x	as long as short