Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Bybit+1.273%7-day average +1.829% · you sell dearer than you buy

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$205as in the Price arb table

costs, in and out, $10k−$1501.495% of the position

Long on Bybit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)+1.719%+$172 · spread now +1.273%, 7d avg +1.829%

Together, before fees+1.786%+ Points / potential airdropLighter RH: Points live · farm board+$179 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.556% cheaper against Bybit than usual: you would sell low and buy high (spread +1.273% now, against its 7-day average of +1.829%). If the spread goes back, that is −$56 on $10k: about 58 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit OPENAIUSDT	1,655.7	0	get 0.0000% / 8h	1h 01m	$738K	$263K	25x
Short	Lighter RH OPENAI	1,676.8	0.0032	get 0.0004% / 1h	1m 06s	$2.6M	$6.2M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +1.273%Rate

Funding earned: $6.72
Price spread: +1.273% → +1.829%: −$55.56
Slippage, 4 orders: −$138.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$198.35
Costs to cover: 1.495%
Break-even: 213.6 days

Slippage from Bybit: live order book, 39 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 Bybit live order book, 39 min ago	12.11 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	3.10 bp	10.1 bp −$10	174.1 bp −$1,741	582.7 bp −$58.3K	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	1,616.8	−2.355%	$1.2M	$625K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,710.3	+3.298%	$1.4M	$267K	5x	as long as short
Bybit OPENAIUSDTlong	0.0000%	8h	1,655.7	long leg	$738K	$263K	25x
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,645.7	−0.606%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,614.8	−2.471%	$44.9M	$18.8M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,618.8	−2.233%	$5.4M	$4.7M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,618	−2.279%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,616.4	−2.378%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,617.1	−2.333%	$79K	$227K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,617.2	−2.328%	$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
Lighter RH OPENAIshort	+0.0032%	1h	1,676.8	+1.273%	$2.6M	$6.2M	5x
BloFin OPENAI-USDT	+0.0034%	8h	1,616.6	−2.366%	$473K	$301K	20x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,618.4	−2.258%	$226K	$165K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,616.4	−2.377%	$141K	$586K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,620	−2.160%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,616.7	−2.357%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,617.4	−2.314%	$6.7M	$5.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.2	−2.147%	$373K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,614.7	−2.481%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,615.9	−2.406%	$2K	$180K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,616.6	−2.361%	—	—	10x	as long as short
Entropy io:OAI	+0.0150%	1h	1,668.8	+0.789%	$7.6M	$2.3M	6x	as long as short