Funding arb · Price arb /

OPENAI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h —

Price spread now: Aevo against Bitget−0.111%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Aevo

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

Funding pays, the price is against you. Aevo is 0.111% cheaper against Bitget than usual: you would sell low and buy high (spread −0.111% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPENAIUSDT	1,623.5	0	get 0.0000% / 8h	3h 56m	$5.5M	$5.0M	20x
Short	Aevo OPENAI-PERP	1,621.7	0.0104	get 0.0013% / 1h	56m 19s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bitget. 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 BitgetbpFee AevobpOrdersPrice spread, now −0.111%Rate

Funding earned: $21.84
Price spread: −0.111% → 0.000%: −$11.12
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$17.28
Costs to cover: 0.280%
Break-even: 12.5 days

Slippage unknown: Bitget: live order book, 2 min ago; Aevo: no order-book sample. 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 Bitget live order book, 2 min ago	0.86 bp	30.2 bp −$30	33.5 bp −$335	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

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
QFEX OPENAI-USD	−0.0001%	1h	1,621.4	−0.128%	$1.2M	$554K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.4	+5.477%	$1.4M	$265K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,664	+2.496%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652.4	+1.782%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,618.2	−0.325%	$52.4M	$25.3M	50x	as long as short
Bitget OPENAIUSDTlong	0.0000%	8h	1,623.5	long leg	$5.5M	$5.0M	20x
SunX OPENAI-USDT	0.0000%	8h	1,623.4	−0.004%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,622.1	−0.085%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622	−0.088%	$79K	$220K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.3	−0.134%	$1.6M	$544K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPENAI-USDT	+0.0029%	8h	1,622.7	−0.045%	$475K	$286K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,680.2	+3.496%	$2.7M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,621.2	−0.143%	$141K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,628.3	+0.299%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,621.5	−0.121%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,621.5	−0.124%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	+0.115%	$375K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.4	−0.064%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.2	−0.080%	$2K	$153K	10x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0056%	1h	1,622.7	−0.045%	$226K	$161K	5x	as long as short
Aevo OPENAI-PERPshort	+0.0104%	1h	1,621.7	−0.111%	—	—	10x
Entropy io:OAI	+0.0153%	1h	1,674.3	+3.131%	$7.7M	$2.3M	6x	as long as short