Funding you earn now, next payment 21:00 UTC−0.1045%/8h= −114.5% APRnext payment −$1.31 per $10,000 · paid last 24h −0.189%
Price spread now: Entropy against Coinbase International+1.731%7-day average +4.067% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.137%−$14 on $10k
+Price spread, last 3 days (all we have)+2.613%+$261 · spread now +1.731%, 7d avg +4.067%
=Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Entropy is 2.336% cheaper against Coinbase International than usual: you would sell low and buy high (−$234 if the spread goes back to its 7-day average of +4.067%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.137% in total (about -7.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.31 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International OPENAI-PERP-INTX | 1,633.9 | 0.1080 | pay 0.0135% / 1h | 10m 54s | $237K | $106K | 5x |
| Short | Entropy io:OAI | 1,662.2 | 0.0035 | get 0.0004% / 1h | 10m 54s | $7.3M | $2.2M | 6x |
Coinbase International OPENAI-PERP-INTX
Entropy io:OAIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Entropy against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$219.54
- Price spread: +1.731% → +4.067%
- −$233.58
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Entropy: 9 bp × 2 orders
- −$18
- Net
- −$481.12
- Costs to cover
- 0.280%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: live order book, 12 min ago; Entropy: live order book, 4 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, 12 min ago | 25.21 bp | 41.6 bp −$42 | 66.9 bp −$669 | doesn't fit | doesn't fit |
| Sell Entropy live order book, 4 min ago | 6.93 bp | 31.2 bp −$31 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter OPENAI | 0.0000% | 1h | 1,700.4 | +4.067% | $1.4M | $315K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,674.5 | +2.482% | $761K | $225K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,660.6 | +1.633% | $5.1M | $1.4M | 20x | as long as short |
| QFEX OPENAI-USD | 0.0000% | 1h | 1,627.9 | −0.371% | $1.2M | $361K | 10x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,624.4 | −0.580% | $52.8M | $48.6M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,629.7 | −0.261% | $5.5M | $5.0M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,628.9 | −0.307% | — | $2.6M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,628.1 | −0.357% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,628.9 | −0.305% | $79K | $212K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,627 | −0.421% | $1.6M | $584K | 10x | as long as short |
Lighter OPENAI
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
QFEX OPENAI-USD
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDT
Phemex OPENAIUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAI | +0.0032% | 1h | 1,664.5 | +1.870% | $2.6M | $6.3M | 5x | as long as short |
| Entropy io:OAIshort | +0.0035% | 1h | 1,662.2 | +1.731% | $7.3M | $2.2M | 6x | |
| Extended OPENAI-USD | +0.0048% | 1h | 1,627.8 | −0.373% | $133K | $656K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,632.7 | −0.076% | $213K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,627.9 | −0.366% | $23.2M | $21.2M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,627.4 | −0.401% | $13.0M | $3.1M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,640.2 | +0.387% | $375K | $65K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,624.5 | −0.574% | $2.6M | $755K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,625.7 | −0.502% | $2K | $154K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0065% | 8h | 1,628.4 | −0.335% | $476K | $295K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,627.7 | −0.382% | — | — | 10x | as long as short |
| Coinbase International OPENAI-PERP-INTXlong | +0.1080% | 1h | 1,633.9 | long leg | $237K | $106K | 5x |
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
BloFin OPENAI-USDT
Aevo OPENAI-PERP