Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Lighter against Bybit+1.969%7-day average +3.682% · you sell dearer than you buy

Net, funding: paid 7d − costs−$329as in the Funding arb table

Net, price: spread back to 7d avg − costs−$501as in the Price arb table

costs, in and out, $10k−$3303.297% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+2.738%+$274 · spread now +1.969%, 7d avg +3.682%

Together, before fees+2.740%+ Points / potential airdropLighter: Season 3 · farm board+$274 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: Lighter is 1.713% cheaper against Bybit than usual: you would sell low and buy high, −$171 on $10k if it goes back to its 7-day average of +3.682%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPENAIUSDT	1,675.7	0	get 0.0000% / 8h	23m 07s	$771K	$217K	25x
Short	Lighter OPENAI	1,708.7	0	get 0.0000% / 1h	23m 07s	$1.4M	$287K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +1.969%Rate

Funding earned: $0
Price spread: +1.969% → +3.682%: −$171.26
Slippage, 4 orders: −$318.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$500.93
Costs to cover: 3.297%
Break-even: never at this rate

Slippage from Bybit: live order book, 52 min ago; Lighter: 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, 52 min ago	10.55 bp	69.7 bp −$70	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	1.28 bp	103.5 bp −$103	150.4 bp −$1,504	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
Coinbase International OPENAI-PERP-INTX	−0.0168%	1h	1,628.2	−2.834%	$236K	$147K	5x	as long as short
QFEX OPENAI-USD	−0.0010%	1h	1,628.3	−2.828%	$1.2M	$387K	10x	as long as short
Lighter OPENAIshort	0.0000%	1h	1,708.7	+1.969%	$1.4M	$287K	5x
Bybit OPENAIUSDTlong	0.0000%	8h	1,675.7	long leg	$771K	$217K	25x
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,659	−0.994%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,626	−2.962%	$52.6M	$39.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,629.9	−2.733%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,629.2	−2.772%	—	$2.6M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,629.1	−2.780%	$79K	$213K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,628.4	−2.820%	$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 OPENAI	+0.0032%	1h	1,681.2	+0.334%	$2.6M	$6.3M	5x	as long as short
BloFin OPENAI-USDT	+0.0041%	8h	1,628.6	−2.811%	$474K	$277K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,628.2	−2.834%	$131K	$667K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,633.3	−2.525%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,628.5	−2.816%	$23.2M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,628.7	−2.805%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,630.2	−2.714%	$376K	$63K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,628.4	−2.820%	$2.6M	$751K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,626.8	−2.917%	$2K	$140K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,627.9	−2.853%	—	—	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0161%	1h	1,629.3	−2.767%	—	$3	5x	as long as short
Entropy io:OAI	+0.0258%	1h	1,671.6	−0.242%	$7.4M	$2.2M	6x	as long as short