Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.008%

Price spread now: Lighter RH against BloFin+3.160%7-day average +4.723% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$194as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on BloFin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 3 days (all we have)+2.673%+$267 · spread now +3.160%, 7d avg +4.723%

Together, before fees+2.629%+ Points / potential airdropLighter RH: Points live · farm board+$263 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter RH is 1.563% cheaper against BloFin than usual: you would sell low and buy high (−$156 if the spread goes back to its 7-day average of +4.723%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin OPENAI-USDT	1,631.3	0.0054	pay 0.0054% / 8h	16m 50s	$474K	$278K	20x
Short	Lighter RH OPENAI	1,682.8	0.0032	get 0.0004% / 1h	16m 50s	$2.6M	$6.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against BloFin. 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 BloFinbpFee Lighter RHbpOrdersPrice spread, now +3.160%Rate

Funding earned: −$4.67
Price spread: +3.160% → +4.723%: −$156.31
Slippage, 4 orders: −$26.17
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$199.15
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from BloFin: live order book, 59 min ago; Lighter RH: live order book, 2 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 BloFin live order book, 59 min ago	0.37 bp	11.8 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	2.46 bp	4.7 bp −$5	133.1 bp −$1,331	595.4 bp −$59.5K	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
Coinbase International OPENAI-PERP-INTX	−0.0168%	1h	1,632.3	+0.059%	$236K	$149K	5x	as long as short
QFEX OPENAI-USD	−0.0010%	1h	1,631.2	−0.004%	$1.2M	$387K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,710.5	+4.856%	$1.4M	$287K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,675.6	+2.714%	$771K	$211K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,662.4	+1.908%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,629.5	−0.108%	$52.8M	$39.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,633.5	+0.139%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,632.6	+0.081%	—	$2.6M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,630.2	−0.066%	$79K	$214K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,631.3	+0.002%	$1.6M	$558K	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 OPENAIshort	+0.0032%	1h	1,682.8	+3.160%	$2.6M	$6.3M	5x
Extended OPENAI-USD	+0.0048%	1h	1,631.6	+0.019%	$132K	$667K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,637	+0.353%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,631.9	+0.038%	$23.2M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,632	+0.045%	$13.1M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,633.3	+0.125%	$377K	$63K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,629.4	−0.114%	$2.6M	$751K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.1	−0.196%	$2K	$140K	10x	as long as short
BloFin OPENAI-USDTlong	+0.0054%	8h	1,631.3	long leg	$474K	$278K	20x
Aevo OPENAI-PERP	+0.0104%	1h	1,631.3	+0.003%	—	—	10x	as long as short
Entropy io:OAI	+0.0249%	1h	1,672.9	+2.551%	$7.4M	$2.2M	6x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0908%	1h	1,633	+0.103%	—	$3	5x	as long as short