Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.070%

Price spread now: Entropy against Bitget+2.611%55s7-day average +5.359% · you sell dearer than you buy

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

Long on Bitget Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.607%+$61 on $10k

Price spread, last 7 days+3.849%+$385 · spread now +2.611%, 7d avg +5.359%

Together, before fees+4.457%+$446 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 2.748% cheaper against Bitget than usual: you would sell low and buy high (spread +2.611% now, against its 7-day average of +5.359%). If the spread goes back, that is −$275 on $10k: about 4 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.607% in total) that is about 32 days. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPENAIUSDT	1,625.3	0	get 0.0000% / 8h	6h 25m	$5.5M	$5.1M	20x
Short	Entropy io:OAI	1,667.7	0.0076	get 0.0009% / 1h	25m 49s	$7.4M	$2.2M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy 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 EntropybpOrdersPrice spread, now +2.611%Rate

Funding earned: $15.87
Price spread: +2.611% → +5.359%: −$274.8
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$288.93
Costs to cover: 0.300%
Break-even: 134.4 days

Slippage unknown: Bitget: live order book, 2 min ago; Entropy: live order book, 1 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 Bitget live order book, 2 min ago	1.63 bp	22.3 bp −$22	31.7 bp −$317	doesn't fit	doesn't fit
Sell Entropy live order book, 1 min ago	3.60 bp	23.4 bp −$23	24.5 bp −$245	doesn't fit	doesn't fit

OPENAI on 21 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	−0.0004%	1h	1,623.5	−0.107%	$1.2M	$414K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.5	+5.122%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,665.6	+2.485%	$763K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652.1	+1.651%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,620.8	−0.272%	$52.4M	$31.8M	50x	as long as short
Bitget OPENAIUSDTlong	0.0000%	8h	1,625.3	long leg	$5.5M	$5.1M	20x
SunX OPENAI-USDT	0.0000%	8h	1,624.6	−0.041%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,624.3	−0.057%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.4	−0.112%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,623.4	−0.112%	$1.6M	$560K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0024%	1h	1,624	−0.077%	$222K	$158K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,675.8	+3.111%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,623.1	−0.135%	$131K	$722K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,629.4	+0.252%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,623.7	−0.096%	$22.9M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,623.9	−0.086%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.4	−0.052%	$377K	$67K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,623.5	−0.107%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.7	−0.159%	$2K	$138K	10x	as long as short
Entropy io:OAIshort	+0.0076%	1h	1,667.7	+2.611%	$7.4M	$2.2M	6x
Aevo OPENAI-PERP	+0.0104%	1h	1,623	−0.140%	—	—	10x	as long as short