Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.225%

Price spread now: Coinbase International against Bitget+0.355%7-day average +0.463% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1161.165% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.820%+$82 on $10k

Price spread, last 4 days (all we have)+0.790%+$79 · spread now +0.355%, 7d avg +0.463%

Together, before fees+1.610%+$161 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.108% cheaper against Bitget than usual: you would sell low and buy high (spread +0.355% now, against its 7-day average of +0.463%). If the spread goes back, that is −$11 on $10k: about 9.0 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.820% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPENAIUSDT	1,619.3	0	get 0.0000% / 8h	1h 34m	$5.4M	$4.6M	20x
Short	Coinbase International OPENAI-PERP-INTX	1,625	0.0040	get 0.0005% / 1h	34m 54s	$226K	$162K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now +0.355%Rate

Funding earned: $8.4
Price spread: +0.355% → +0.463%: −$10.79
Slippage, 4 orders: −$94.48
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$118.86
Costs to cover: 1.165%
Break-even: 106.1 days

Slippage from Bitget: live order book, 3 min ago; Coinbase International: live order book, 8 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 Bitget live order book, 3 min ago	1.45 bp	28.5 bp −$28	32.1 bp −$321	doesn't fit	doesn't fit
Sell Coinbase International live order book, 8 min ago	9.61 bp	18.0 bp −$18	42.4 bp −$424	doesn't fit	doesn't fit

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	−0.0002%	1h	1,617.5	−0.109%	$1.2M	$623K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.7	+5.767%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,660.6	+2.554%	$753K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,649.6	+1.872%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,614.3	−0.307%	$52.3M	$18.1M	50x	as long as short
Bitget OPENAIUSDTlong	0.0000%	8h	1,619.3	long leg	$5.4M	$4.6M	20x
SunX OPENAI-USDT	0.0000%	8h	1,617.3	−0.123%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,617.8	−0.094%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,618.2	−0.067%	$79K	$227K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,617.5	−0.111%	$1.6M	$511K	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	1,679.9	+3.741%	$2.7M	$6.0M	5x	as long as short
Coinbase International OPENAI-PERP-INTXshort	+0.0040%	1h	1,625	+0.355%	$226K	$162K	5x
Extended OPENAI-USD	+0.0048%	1h	1,617.5	−0.111%	$144K	$613K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,621.9	+0.158%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,617.9	−0.087%	$22.8M	$16.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,617.7	−0.101%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.3	+0.061%	$372K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,617.6	−0.107%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,617.5	−0.110%	$2K	$176K	10x	as long as short
BloFin OPENAI-USDT	+0.0078%	8h	1,617.7	−0.098%	$474K	$289K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,617.7	−0.097%	—	—	10x	as long as short
Entropy io:OAI	+0.0139%	1h	1,669.9	+3.125%	$7.7M	$2.3M	6x	as long as short