Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.016%

Price spread now: Polymarket Perps against Phemex−0.040%46s7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1141.141% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 3 days (all we have)+0.015%+$2 · spread now −0.040%, 7d avg −0.044%

Together, before fees+0.122%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.044%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 46 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	Phemex DRAMUSDT	62.170	0	get 0.0000% / 8h	6h 17m	$1.7M	$1.3M	10x
Short	Polymarket Perps DRAM-USD	62.145	0.0050	get 0.0006% / 1h	17m 27s	$266K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.040%Rate

Funding earned: $10.5
Price spread: −0.040% → −0.044%: $0.4
Slippage, 4 orders: −$94.13
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$103.23
Costs to cover: 1.141%
Break-even: 75.8 days

Slippage from Phemex: live order book, 1 min ago; Polymarket Perps: live order book, 1 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	4.02 bp	46.6 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	2.74 bp	7.8 bp −$8	7.9 bp −$79	8.5 bp −$854	doesn't fit

DRAM on 33 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
SunX DRAM-USDT	0.0000%	8h	62.150	−0.032%	$693	$2.9M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	62.150	−0.032%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTlong	0.0000%	8h	62.170	long leg	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0033%	1h	62.144	−0.041%	$1K	$34K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	62.150	−0.032%	$51K	$81K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	62.130	−0.064%	—	—	10x	as long as short
QFEX DRAM-USD	+0.0046%	1h	62.150	−0.032%	$1.0M	$78K	10x	as long as short
Polymarket Perps DRAM-USDshort	+0.0050%	1h	62.145	−0.040%	$266K	$1.3M	10x
SoDEX DRAM-USD	+0.0050%	1h	62.144	−0.042%	$2K	$15K	20x	as long as short
Entropy io:DRAM	+0.0050%	1h	62.131	−0.063%	$252K	$430K	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps DRAM-USD.P	+0.0050%	1h	62.100	−0.113%	$1.1M	$1.9M	10x	as long as short
edgeX DRAMUSDC	+0.0079%	4h	62.126	−0.070%	$150K	$297K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	62.136	−0.054%	$76K	$44K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	62.140	−0.048%	$3.0M	$404K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	62.170	0.000%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	62.160	−0.016%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	62.169	−0.001%	$4K	—	10x	as long as short
Lighter DRAM	+0.0144%	1h	62.167	−0.005%	$966K	$1.0M	20x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0152%	1h	62.130	−0.064%	$534K	$93K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0166%	8h	62.161	−0.015%	—	—	5x	as long as short
tradeXYZ xyz:DRAM	+0.0214%	1h	62.154	−0.026%	$81.8M	$36.8M	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0222%	8h	62.180	+0.016%	$5.5M	$4.5M	50x	as long as short
Bitget DRAMUSDT	+0.0229%	8h	62.190	+0.032%	$26.0M	$13.0M	20x	as long as short
Bybit DRAMUSDT	+0.0295%	8h	62.199	+0.047%	$9.6M	$10.1M	100x	as long as short
GRVT DRAM_USDT_Perp	+0.0345%	8h	62.153	−0.028%	$36K	$153K	10x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0394%	1h	62.150	−0.032%	$13K	$3K	20x	as long as short
Aster DRAMUSDT	+0.0454%	8h	62.173	+0.006%	$200K	$36K	20x	as long as short
Gate DRAM_USDT	+0.0535%	8h	62.210	+0.064%	$8.2M	$3.5M	75x	as long as short
Variational Omni DRAM	+0.0547%	8h	62.183	+0.022%	$2.4M	$709K	—	as long as short
MEXC DRAM_USDT	+0.0581%	8h	62.160	−0.016%	$9.6M	$5.9M	100x	as long as short
Binance DRAMUSDT	+0.0581%	8h	62.173	+0.005%	$44.6M	$81.8M	50x	as long as short
Extended DRAM-USD	+0.0584%	1h	62.162	−0.013%	$75K	$669K	10x	as long as short
RISEx DRAM/USDC	+0.0835%	1h	62.161	−0.014%	$447K	$504K	20x	as long as short