Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against Polymarket Perps+0.021%46s7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as 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−$1041.037% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.021%, 7d avg +0.045%

Together, before fees−0.105%−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.023% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.045%). Swap the legs. 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	Polymarket Perps DRAM-USD	61.257	0.0050	pay 0.0006% / 1h	2m 29s	$255K	$1.3M	10x
Short	Phemex DRAMUSDT	61.270	0	get 0.0000% / 8h	5h 02m	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$10.5
Price spread: +0.021% → +0.045%: −$2.33
Slippage, 4 orders: −$83.71
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$116.54
Costs to cover: 1.037%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Phemex: 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 Polymarket Perps live order book, 4 min ago	1.06 bp	7.4 bp −$7	8.0 bp −$80	9.4 bp −$940	doesn't fit
Sell Phemex live order book, 4 min ago	1.63 bp	46.4 bp −$46	doesn't fit	doesn't fit	doesn't fit

DRAM on 34 exchanges

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
Bybit DRAMUSDT	0.0000%	8h	61.301	+0.072%	$9.6M	$11.2M	100x	as long as short
Bitget DRAMUSDT	0.0000%	8h	61.280	+0.038%	$26.8M	$17.2M	20x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.250	−0.011%	$820	$2.4M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.280	+0.038%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	61.270	+0.021%	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0028%	1h	61.253	−0.007%	$1K	$26K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	61.240	−0.028%	$59K	$80K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.200	−0.093%	—	—	10x	as long as short
Polymarket Perps DRAM-USDlong	+0.0050%	1h	61.257	long leg	$255K	$1.3M	10x
SoDEX DRAM-USD	+0.0050%	1h	61.262	+0.008%	$2K	$15K	20x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.230	−0.044%	$1.1M	$3.7M	10x	as long as short
Lighter DRAM	+0.0056%	1h	61.271	+0.023%	$1.1M	$1.4M	20x	as long as short
QFEX DRAM-USD	+0.0057%	1h	61.240	−0.028%	$1.0M	$98K	10x	as long as short
Gate DRAM_USDT	+0.0068%	8h	61.300	+0.070%	$8.0M	$3.8M	75x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0077%	1h	61.250	−0.011%	$13K	$3K	20x	as long as short
edgeX DRAMUSDC	+0.0081%	4h	61.282	+0.041%	$149K	$299K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.235	−0.036%	$75K	$31K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.280	+0.038%	$3.0M	$412K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.300	+0.070%	$21K	$186K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.270	+0.021%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.265	+0.013%	$4K	—	10x	as long as short
Paradex DRAM-USD-PERP	+0.0108%	8h	61.259	+0.003%	—	—	5x	as long as short
tradeXYZ xyz:DRAM	+0.0117%	1h	61.256	−0.002%	$79.4M	$38.8M	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0168%	8h	61.290	+0.054%	$5.5M	$6.6M	50x	as long as short
Aster DRAMUSDT	+0.0185%	8h	61.268	+0.019%	$196K	$28K	20x	as long as short
Variational Omni DRAM	+0.0224%	8h	61.299	+0.068%	$2.2M	$698K	—	as long as short
Coinbase International DRAM-PERP-INTX	+0.0232%	1h	61.140	−0.191%	$536K	$91K	20x	as long as short
Binance DRAMUSDT	+0.0278%	8h	61.275	+0.029%	$44.3M	$98.9M	50x	as long as short
MEXC DRAM_USDT	+0.0279%	8h	61.270	+0.021%	$9.0M	$5.4M	100x	as long as short
Extended DRAM-USD	+0.0280%	1h	61.254	−0.005%	$98K	$293K	10x	as long as short
GRVT DRAM_USDT_Perp	+0.0344%	8h	61.300	+0.070%	$36K	$228K	10x	as long as short
Entropy io:DRAM	+0.0387%	1h	61.242	−0.024%	$303K	$1.7M	25x	as long as short
RISEx DRAM/USDC	+0.0600%	1h	61.276	+0.032%	$461K	$367K	20x	as long as short
BloFin DRAM-USDT	+0.0672%	8h	61.270	+0.021%	$306K	$27K	20x	as long as short