Funding arb · Price arb /

OPENAI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0114%/8h= −12.5% APRnext payment −$0.14 per $10,000 · paid last 24h —

Price spread now: QFEX against Aevo+0.037%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 QFEX

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. QFEX is 0.037% dearer against Aevo than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo OPENAI-PERP	1,627.7	0.0104	pay 0.0013% / 1h	24m 36s	—	—	10x
Short	QFEX OPENAI-USD	1,628.3	−0.0010	pay 0.0001% / 1h	24m 36s	$1.2M	$387K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Aevo. 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 AevobpFee QFEXbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$24.01
Price spread: +0.037% → 0.000%: $3.73
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$46.28
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; QFEX: live order book, 2 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 QFEX live order book, 2 min ago	2.83 bp	9.0 bp −$9	doesn't fit	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	−0.0168%	1h	1,628.2	+0.031%	$236K	$146K	5x	as long as short
QFEX OPENAI-USDshort	−0.0010%	1h	1,628.3	+0.037%	$1.2M	$387K	10x
Lighter OPENAI	0.0000%	1h	1,708.4	+4.957%	$1.4M	$287K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,675.1	+2.912%	$770K	$217K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,659.5	+1.956%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,625.4	−0.140%	$52.6M	$39.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,630	+0.141%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,629.5	+0.113%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,627.9	+0.013%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,627	−0.041%	$79K	$213K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,627.8	+0.011%	$1.6M	$558K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,680.6	+3.250%	$2.6M	$6.3M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,627.8	+0.010%	$131K	$667K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,633	+0.330%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,628.2	+0.031%	$23.1M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,628.3	+0.042%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,630.2	+0.154%	$376K	$64K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,628.4	+0.045%	$2.6M	$751K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,626.8	−0.055%	$2K	$140K	10x	as long as short
BloFin OPENAI-USDT	+0.0071%	8h	1,628.6	+0.054%	$474K	$277K	20x	as long as short
Aevo OPENAI-PERPlong	+0.0104%	1h	1,627.7	long leg	—	—	10x
Entropy io:OAI	+0.0259%	1h	1,671.4	+2.687%	$7.4M	$2.2M	6x	as long as short