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: Phemex against QFEX+0.066%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−$99as in the Price arb table

costs, in and out, $10k−$1051.053% of the position

Long on QFEX Short on Phemex

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)−0.105%−$10 · spread now +0.066%, 7d avg +0.004%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.062% dearer against QFEX than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of +0.004%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX DRAM-USD	60.910	0.0040	pay 0.0005% / 1h	50m 19s	$992K	$84K	10x
Short	Phemex DRAMUSDT	60.950	0	get 0.0000% / 8h	50m 19s	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against QFEX. 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 QFEXbpFee PhemexbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$8.47
Price spread: +0.066% → +0.004%: $6.18
Slippage, 4 orders: −$83.31
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$107.6
Costs to cover: 1.053%
Break-even: never at this rate

Slippage from QFEX: live order book, 30 min ago; Phemex: live order book, 3 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 QFEX live order book, 30 min ago	2.45 bp	7.5 bp −$7	8.8 bp −$88	15.2 bp −$1,519	doesn't fit
Sell Phemex live order book, 3 min ago	0.82 bp	42.5 bp −$42	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
Bitget DRAMUSDT	−0.0759%	8h	60.960	+0.082%	$26.2M	$14.8M	20x	as long as short
Aster DRAMUSDT	0.0000%	8h	60.926	+0.027%	$196K	$35K	20x	as long as short
Bybit DRAMUSDT	0.0000%	8h	60.950	+0.066%	$9.4M	$10.2M	100x	as long as short
OKX DRAM-USDT-SWAP	0.0000%	8h	60.930	+0.033%	$5.4M	$6.0M	50x	as long as short
RISEx DRAM/USDC	0.0000%	1h	60.907	−0.004%	$422K	$344K	20x	as long as short
Gate DRAM_USDT	0.0000%	8h	60.950	+0.066%	$8.0M	$3.7M	75x	as long as short
Variational Omni DRAM	0.0000%	8h	60.903	−0.011%	$2.3M	$582K	—	as long as short
GRVT DRAM_USDT_Perp	0.0000%	8h	60.884	−0.042%	$36K	$205K	10x	as long as short
SunX DRAM-USDT	0.0000%	8h	60.910	0.000%	$831	$2.6M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	60.900	−0.016%	$27K	$3K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex DRAMUSDTshort	0.0000%	8h	60.950	+0.066%	$1.7M	$1.3M	10x
Aftermath Perps DRAMUSD	+0.0031%	1h	60.898	−0.020%	$1K	$30K	5x	as long as short
MEXC DRAM_USDT	+0.0036%	8h	60.910	0.000%	$7.7M	$5.7M	100x	as long as short
Binance DRAMUSDT	+0.0037%	8h	60.920	+0.016%	$43.6M	$88.5M	50x	as long as short
Extended DRAM-USD	+0.0040%	1h	60.914	+0.006%	$74K	$191K	10x	as long as short
Arcus DRAM-USD	+0.0040%	1h	60.880	−0.049%	$47K	$67K	10x	as long as short
QFEX DRAM-USDlong	+0.0040%	1h	60.910	long leg	$992K	$84K	10x
edgeX DRAMUSDC	+0.0044%	4h	60.899	−0.017%	$148K	$298K	20x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	60.900	−0.016%	—	—	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	60.858	−0.085%	$179K	$480K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	60.878	−0.053%	$253K	$1.4M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	60.916	+0.010%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	60.870	−0.066%	$1.1M	$3.5M	10x	as long as short
Paradex DRAM-USD-PERP	+0.0085%	8h	60.896	−0.023%	—	—	5x	as long as short
Pacifica DRAM	+0.0100%	1h	60.922	+0.020%	$73K	$46K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	60.890	−0.033%	$3.0M	$421K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	60.910	0.000%	$21K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	60.920	+0.016%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	60.915	+0.008%	$4K	—	10x	as long as short
BloFin DRAM-USDT	+0.0120%	8h	60.910	0.000%	$298K	$26K	20x	as long as short
tradeXYZ xyz:DRAM	+0.0124%	1h	60.879	−0.051%	$78.8M	$35.9M	20x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0176%	1h	61.110	+0.328%	$525K	$75K	20x	as long as short
Lighter DRAM	+0.0248%	1h	60.945	+0.057%	$1.1M	$1.2M	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0571%	1h	60.930	+0.033%	$13K	$3K	20x	as long as short