Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Bybit−2.490%7-day average −2.919% · you buy dearer than you sell

Net, funding: paid 7d − costs−$213as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$2132.129% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.243%−$24 · spread now −2.490%, 7d avg −2.919%

Together, before fees−0.243%−$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.429% dearer against Bybit than usual: you sell high and buy low, +$43 on $10k if it goes back to its 7-day average of −2.919%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPENAIUSDT	1,660.6	0	get 0.0000% / 8h	1h 35m	$753K	$204K	25x
Short	Bitget OPENAIUSDT	1,619.3	0	get 0.0000% / 8h	1h 35m	$5.4M	$4.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now −2.490%Rate

Funding earned: $0
Price spread: −2.490% → −2.919%: $42.91
Slippage, 4 orders: −$189.89
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$169.97
Costs to cover: 2.129%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Bitget: live order book, 3 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 Bybit live order book, 5 min ago	12.11 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.45 bp	49.1 bp −$49	117.0 bp −$1,170	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	−2.597%	$1.2M	$623K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.7	+3.133%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDTlong	0.0000%	8h	1,660.6	long leg	$753K	$204K	25x
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,649.6	−0.665%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,614.3	−2.789%	$52.3M	$18.1M	50x	as long as short
Bitget OPENAIUSDTshort	0.0000%	8h	1,619.3	−2.490%	$5.4M	$4.6M	20x
SunX OPENAI-USDT	0.0000%	8h	1,617.3	−2.610%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,617.8	−2.582%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,618.2	−2.555%	$79K	$227K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,617.5	−2.598%	$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	+1.157%	$2.7M	$6.0M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	−2.144%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,617.5	−2.598%	$144K	$613K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,621.9	−2.336%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,617.9	−2.575%	$22.8M	$16.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,617.7	−2.588%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.3	−2.431%	$372K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,617.6	−2.594%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,617.5	−2.597%	$2K	$176K	10x	as long as short
BloFin OPENAI-USDT	+0.0078%	8h	1,617.7	−2.585%	$474K	$289K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,617.7	−2.584%	—	—	10x	as long as short
Entropy io:OAI	+0.0139%	1h	1,669.9	+0.558%	$7.7M	$2.3M	6x	as long as short