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: Gate against Bybit−2.703%7-day average −3.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1801.796% of the position

Long on Bybit Short on Gate

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)−0.029%−$3 · spread now −2.703%, 7d avg −3.093%

Together, before fees−0.029%−$3 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: Gate is 0.390% dearer against Bybit than usual: you sell high and buy low, +$39 on $10k if it goes back to its 7-day average of −3.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPENAIUSDT	1,665.6	0	get 0.0000% / 8h	6h 25m	$763K	$205K	25x
Short	Gate OPENAI_USDT	1,620.6	0	get 0.0000% / 8h	6h 25m	$52.4M	$31.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −2.703%Rate

Funding earned: $0
Price spread: −2.703% → −3.093%: $38.99
Slippage, 4 orders: −$153.58
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$140.6
Costs to cover: 1.796%
Break-even: never at this rate

Slippage from Bybit: live order book, 39 min ago; Gate: 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, 39 min ago	22.53 bp	68.3 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.70 bp	13.5 bp −$14	doesn't fit	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	1,623.6	−2.526%	$1.2M	$414K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.5	+2.575%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDTlong	0.0000%	8h	1,665.6	long leg	$763K	$205K	25x
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652.1	−0.813%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDTshort	0.0000%	8h	1,620.6	−2.703%	$52.4M	$31.8M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,624.8	−2.451%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.6	−2.464%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,624.3	−2.480%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.4	−2.534%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,623.4	−2.534%	$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	−2.499%	$222K	$158K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,675.8	+0.608%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,623.3	−2.545%	$131K	$722K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,629.2	−2.189%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,623.7	−2.518%	$22.9M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,623.6	−2.522%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.4	−2.475%	$377K	$67K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,623.5	−2.529%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.7	−2.575%	$2K	$138K	10x	as long as short
Entropy io:OAI	+0.0078%	1h	1,667.7	+0.124%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,623	−2.561%	—	—	10x	as long as short