Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.241%

Price spread now: Bitget against Coinbase International+0.092%7-day average −0.469% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.812%−$81 on $10k

Price spread, last 4 days (all we have)−1.303%−$130 · spread now +0.092%, 7d avg −0.469%

Together, before fees−2.114%−$211 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.561% dearer against Coinbase International than usual: you sell high and buy low (spread +0.092% now, against its 7-day average of −0.469%): +$56 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 4 months. At the pace of the last 7 days (−0.812% in total) that is about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OPENAI-PERP-INTX	1,615	0.0016	pay 0.0002% / 1h	55m 05s	$225K	$160K	5x
Short	Bitget OPENAIUSDT	1,616.5	0	get 0.0000% / 8h	2h 55m	$5.4M	$5.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now +0.092%Rate

Funding earned: −$3.36
Price spread: +0.092% → −0.469%: $56.05
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $30.69
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Coinbase International: live order book, 58 min ago; Bitget: live order book, 3 min ago. Net counts fees only.

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 Coinbase International live order book, 58 min ago	5.73 bp	30.8 bp −$31	55.8 bp −$558	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.03 bp	doesn't fit	doesn't fit	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	−0.0005%	1h	1,614.5	−0.035%	$1.2M	$594K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,706.2	+5.645%	$1.4M	$260K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,658.5	+2.693%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,646	+1.919%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,611.4	−0.223%	$52.2M	$19.6M	50x	as long as short
Bitget OPENAIUSDTshort	0.0000%	8h	1,616.5	+0.092%	$5.4M	$5.0M	20x
SunX OPENAI-USDT	0.0000%	8h	1,616.7	+0.105%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,614.9	−0.006%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,615.3	+0.018%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,614.7	−0.022%	$1.6M	$531K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTXlong	+0.0016%	1h	1,615	long leg	$225K	$160K	5x
Lighter RH OPENAI	+0.0032%	1h	1,673.8	+3.638%	$2.6M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,614.1	−0.058%	$142K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,617.1	+0.128%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,614.5	−0.030%	$22.8M	$17.5M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,614.5	−0.031%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620	+0.310%	$373K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,614.4	−0.037%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,614.8	−0.016%	$2K	$162K	10x	as long as short
BloFin OPENAI-USDT	+0.0063%	8h	1,614.2	−0.050%	$474K	$286K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,614	−0.061%	—	—	10x	as long as short
Entropy io:OAI	+0.0144%	1h	1,666.5	+3.188%	$7.6M	$2.3M	6x	as long as short