Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.016%

Price spread now: QFEX against Phemex+0.263%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$1101.096% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.224%−$22 · spread now +0.263%, 7d avg −0.004%

Together, before fees−0.200%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.267% dearer against Phemex than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DRAMUSDT	60.830	0	get 0.0000% / 8h	7h 59m	$1.7M	$1.3M	10x
Short	QFEX DRAM-USD	60.990	0.0040	get 0.0005% / 1h	59m 28s	$994K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.263%Rate

Funding earned: $8.47
Price spread: +0.263% → −0.004%: $26.69
Slippage, 4 orders: −$87.59
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$74.43
Costs to cover: 1.096%
Break-even: 68.5 days

Slippage from Phemex: live order book, 4 min ago; QFEX: live order book, 16 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	1.64 bp	51.2 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 16 min ago	3.29 bp	8.3 bp −$8	8.3 bp −$83	14.2 bp −$1,424	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	−0.0766%	8h	60.790	−0.066%	$26.5M	$15.2M	20x	as long as short
Aster DRAMUSDT	0.0000%	8h	60.862	+0.053%	$195K	$39K	20x	as long as short
Bybit DRAMUSDT	0.0000%	8h	60.850	+0.033%	$9.6M	$10.4M	100x	as long as short
RISEx DRAM/USDC	0.0000%	1h	60.824	−0.010%	$421K	$339K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	60.830	0.000%	$7.9M	$3.6M	75x	as long as short
Variational Omni DRAM	0.0000%	8h	60.847	+0.028%	$2.3M	$589K	—	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	60.872	+0.069%	$36K	$209K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	60.830	0.000%	$878	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	60.800	−0.049%	$27K	$3K	20x	as long as short
Phemex DRAMUSDTlong	0.0000%	8h	60.830	long leg	$1.7M	$1.3M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended DRAM-USD	+0.0008%	1h	60.823	−0.011%	$74K	$198K	10x	as long as short
MEXC DRAM_USDT	+0.0010%	8h	60.810	−0.033%	$8.4M	$5.4M	100x	as long as short
Binance DRAMUSDT	+0.0012%	8h	60.810	−0.033%	$43.7M	$89.2M	50x	as long as short
OKX DRAM-USDT-SWAP	+0.0015%	8h	60.830	0.000%	$5.4M	$6.0M	50x	as long as short
Aftermath Perps DRAMUSD	+0.0039%	1h	60.810	−0.033%	$1K	$29K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	60.800	−0.049%	$47K	$67K	10x	as long as short
QFEX DRAM-USDshort	+0.0040%	1h	60.990	+0.263%	$994K	$84K	10x
Vest DRAM-USD-PERP	+0.0046%	1h	60.950	+0.197%	—	—	10x	as long as short
tradeXYZ xyz:DRAM	+0.0050%	1h	60.790	−0.066%	$78.8M	$35.8M	20x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	60.793	−0.061%	$253K	$1.3M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	60.824	−0.010%	$2K	$15K	20x	as long as short
BloFin DRAM-USDT	+0.0050%	8h	60.880	+0.082%	$298K	$26K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	60.800	−0.049%	$1.1M	$3.5M	10x	as long as short
edgeX DRAMUSDC	+0.0067%	4h	60.866	+0.060%	$148K	$299K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0099%	8h	60.840	+0.016%	—	—	5x	as long as short
Pacifica DRAM	+0.0100%	1h	60.858	+0.046%	$73K	$34K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	60.910	+0.132%	$3.0M	$419K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	60.890	+0.099%	$21K	$183K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	60.820	−0.016%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	60.808	−0.036%	$4K	—	10x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0176%	1h	60.940	+0.181%	$523K	$75K	20x	as long as short
Lighter DRAM	+0.0344%	1h	60.826	−0.007%	$1.1M	$1.2M	20x	as long as short
Entropy io:DRAM	+0.0522%	1h	60.803	−0.044%	$179K	$480K	25x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0573%	1h	60.800	−0.049%	$13K	$3K	20x	as long as short