Funding arb · Price arb /

OPENAI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h —

Price spread now: Bybit against Aevo+2.591%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bybit is 2.591% dearer against Aevo than usual: you sell high and buy low (spread +2.591% now, against zero (this spread has no 7-day history yet)): +$259 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo OPENAI-PERP	1,622.1	0.0104	pay 0.0013% / 1h	36m 02s	—	—	10x
Short	Bybit OPENAIUSDT	1,664.2	0	get 0.0000% / 8h	5h 36m	$763K	$203K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 AevobpFee BybitbpOrdersPrice spread, now +2.591%Rate

Funding earned: −$21.84
Price spread: +2.591% → 0.000%: $259.05
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $210.21
Costs to cover: 0.270%
Break-even: from the start

Slippage unknown: Aevo: no order-book sample; Bybit: live order book, 24 min ago. Net counts fees only.

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 Aevo no order-book sample	—	—	—	—	—
Sell Bybit live order book, 24 min ago	15.71 bp	70.4 bp −$70	533.1 bp −$5,331	doesn't fit	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

OPENAI on 22 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
Coinbase International OPENAI-PERP-INTX	−0.0104%	1h	1,625.2	+0.188%	$225K	$159K	5x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.5	+5.322%	$1.4M	$268K	5x	as long as short
Bybit OPENAIUSDTshort	0.0000%	8h	1,664.2	+2.591%	$763K	$203K	25x
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,653.2	+1.914%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.9	−0.137%	$52.4M	$28.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,624.8	+0.164%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.7	+0.096%	—	$2.4M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.9	+0.047%	$78K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.4	+0.016%	$1.6M	$543K	10x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,622.3	+0.009%	$1.2M	$467K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAI	+0.0032%	1h	1,676.1	+3.326%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,621.8	−0.019%	$135K	$725K	10x	as long as short
BloFin OPENAI-USDT	+0.0050%	8h	1,622.6	+0.027%	$476K	$277K	20x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,628.3	+0.379%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.4	+0.017%	$22.9M	$17.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.8	+0.039%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,623	+0.051%	$374K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.2	+0.005%	$2.6M	$754K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.3	+0.008%	$2K	$139K	10x	as long as short
Aevo OPENAI-PERPlong	+0.0104%	1h	1,622.1	long leg	—	—	10x
Entropy io:OAI	+0.0132%	1h	1,667	+2.765%	$7.4M	$2.1M	6x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0134%	1h	1,624.5	+0.144%	—	$3	5x	as long as short