Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0835%/8h= −91.4% APRpaid last 24h −0.077%

Price spread now: Phemex against RISEx−0.015%7-day average −0.001% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$930.932% of the position

Long on RISEx Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.117%−$12 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now −0.015%, 7d avg −0.001%

Together, before fees−0.134%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$25 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.117% in total (about -12.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx DRAM/USDC	62.209	0.0835	pay 0.0104% / 1h	34m 37s	$448K	$504K	20x
Short	Phemex DRAMUSDT	62.200	0	get 0.0000% / 8h	6h 34m	$1.7M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against RISEx. 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 RISExbpFee PhemexbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$175.34
Price spread: −0.015% → −0.001%: −$1.38
Slippage, 4 orders: −$75.22
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$269.94
Costs to cover: 0.932%
Break-even: never at this rate

Slippage from RISEx: live order book, 34 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 RISEx live order book, 34 min ago	1.36 bp	4.4 bp −$4	5.6 bp −$56	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	7.24 bp	44.9 bp −$45	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
SunX DRAM-USDT	0.0000%	8h	62.190	−0.031%	$707	$2.9M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	62.160	−0.080%	$28K	$3K	20x	as long as short
Phemex DRAMUSDTshort	0.0000%	8h	62.200	−0.015%	$1.7M	$1.3M	10x
edgeX DRAMUSDC	+0.0021%	4h	62.152	−0.092%	$150K	$296K	20x	as long as short
Aftermath Perps DRAMUSD	+0.0034%	1h	62.166	−0.070%	$1K	$34K	5x	as long as short
Arcus DRAM-USD	+0.0040%	1h	62.170	−0.063%	$50K	$81K	10x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	62.130	−0.128%	—	—	10x	as long as short
QFEX DRAM-USD	+0.0046%	1h	62.170	−0.063%	$1.0M	$78K	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	62.143	−0.107%	$252K	$434K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	62.164	−0.073%	$266K	$1.3M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX DRAM-USD	+0.0050%	1h	62.184	−0.041%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	62.150	−0.096%	$1.1M	$1.8M	10x	as long as short
Pacifica DRAM	+0.0100%	1h	62.155	−0.087%	$76K	$43K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	62.180	−0.047%	$3.0M	$406K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	62.190	−0.031%	$22K	$185K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	62.220	+0.017%	$9K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	62.214	+0.007%	$4K	—	10x	as long as short
Lighter DRAM	+0.0152%	1h	62.202	−0.012%	$966K	$1.0M	20x	as long as short
Coinbase International DRAM-PERP-INTX	+0.0152%	1h	62.130	−0.128%	$534K	$93K	20x	as long as short
Paradex DRAM-USD-PERP	+0.0187%	8h	62.198	−0.019%	—	—	5x	as long as short
OKX DRAM-USDT-SWAP	+0.0226%	8h	62.230	+0.033%	$5.5M	$4.7M	50x	as long as short
tradeXYZ xyz:DRAM	+0.0236%	1h	62.191	−0.030%	$81.9M	$36.9M	20x	as long as short
Bitget DRAMUSDT	+0.0335%	8h	62.220	+0.017%	$26.0M	$12.9M	20x	as long as short
Bybit DRAMUSDT	+0.0377%	8h	62.250	+0.065%	$9.6M	$10.1M	100x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0394%	1h	62.180	−0.047%	$13K	$3K	20x	as long as short
Aster DRAMUSDT	+0.0474%	8h	62.213	+0.006%	$200K	$36K	20x	as long as short
GRVT DRAM_USDT_Perp	+0.0518%	8h	62.189	−0.034%	$37K	$152K	10x	as long as short
Variational Omni DRAM	+0.0564%	8h	62.175	−0.055%	$2.4M	$758K	—	as long as short
Gate DRAM_USDT	+0.0583%	8h	62.230	+0.033%	$8.2M	$3.4M	75x	as long as short
Extended DRAM-USD	+0.0600%	1h	62.201	−0.013%	$75K	$663K	10x	as long as short
MEXC DRAM_USDT	+0.0601%	8h	62.210	+0.001%	$9.7M	$5.9M	100x	as long as short
Binance DRAMUSDT	+0.0602%	8h	62.218	+0.013%	$44.7M	$82.2M	50x	as long as short
RISEx DRAM/USDClong	+0.0835%	1h	62.209	long leg	$448K	$504K	20x
BloFin DRAM-USDT	+0.0951%	8h	62.380	+0.274%	$301K	$26K	20x	as long as short