Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0027%/8h= −3.0% APRpaid last 24h −0.013%

Price spread now: QFEX against BloFin−0.074%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.059%−$6 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.074%, 7d avg −0.014%

Together, before fees−0.043%−$4 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 QFEX is 0.060% cheaper against BloFin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin OPENAI-USDT	1,619.2	0.0025	pay 0.0025% / 8h	1h 50m	$472K	$290K	20x
Short	QFEX OPENAI-USD	1,618	−0.0002	pay 0.0000% / 1h	50m 15s	$1.2M	$612K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$5.76
Price spread: −0.074% → −0.014%: −$5.98
Slippage, 4 orders: −$19.6
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$53.34
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from BloFin: live order book, 36 min ago; QFEX: live order book, 1 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, 36 min ago	0.99 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 1 min ago	3.74 bp	8.7 bp −$9	12.9 bp −$129	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-USDshort	−0.0002%	1h	1,618	−0.074%	$1.2M	$612K	10x
Lighter OPENAI	0.0000%	1h	1,712.6	+5.770%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,659.6	+2.498%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,646.3	+1.677%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,615.2	−0.241%	$52.3M	$18.0M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,619.8	+0.037%	$5.4M	$4.7M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,619.2	+0.003%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,619	−0.011%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,618.7	−0.029%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.9	−0.016%	$1.6M	$514K	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-USDTlong	+0.0025%	8h	1,619.2	long leg	$472K	$290K	20x
Lighter RH OPENAI	+0.0032%	1h	1,679.6	+3.732%	$2.7M	$6.0M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	+0.364%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,617.7	−0.090%	$141K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,621.2	+0.124%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,618.1	−0.063%	$22.8M	$17.2M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,618.5	−0.040%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.5	+0.083%	$372K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,618	−0.069%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,619.3	+0.006%	$2K	$175K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,617.9	−0.078%	—	—	10x	as long as short
Entropy io:OAI	+0.0141%	1h	1,670.3	+3.159%	$7.7M	$2.3M	6x	as long as short