Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h −0.218%

Price spread now: MEXC against Coinbase International−0.356%7-day average −0.453% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$420.421% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.712%−$71 on $10k

Price spread, last 4 days (all we have)−0.758%−$76 · spread now −0.356%, 7d avg −0.453%

Together, before fees−1.471%−$147 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and MEXC is 0.097% dearer against Coinbase International than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.453%. Mind the row above: over the last 7 days funding on this pair cost −0.712%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OPENAI-PERP-INTX	1,620.9	0.0016	pay 0.0002% / 1h	26m 58s	$226K	$161K	5x
Short	MEXC OPENAI_USDT	1,615.2	0.0050	get 0.0050% / 8h	2h 26m	$13.0M	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now −0.356%Rate

Funding earned: $7.14
Price spread: −0.356% → −0.453%: $9.67
Slippage, 4 orders: −$32.12
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$25.32
Costs to cover: 0.421%
Break-even: 31.8 days

Slippage from Coinbase International: live order book, 21 min ago; MEXC: live order book, 1 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 Coinbase International live order book, 21 min ago	8.88 bp	18.4 bp −$18	55.5 bp −$555	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.99 bp	1.4 bp −$1	1.9 bp −$19	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	1,614.4	−0.402%	$1.2M	$604K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,707.2	+5.324%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,657.3	+2.244%	$753K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,642.4	+1.325%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,611.8	−0.566%	$52.2M	$19.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,616.8	−0.254%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,616.2	−0.291%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,614.4	−0.403%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,614.9	−0.371%	$79K	$222K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,615	−0.363%	$1.6M	$522K	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	1,620.9	long leg	$226K	$161K	5x
BloFin OPENAI-USDT	+0.0025%	8h	1,615.5	−0.334%	$472K	$287K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,674.1	+3.283%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,614.2	−0.415%	$142K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,618.8	−0.132%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,614.7	−0.387%	$22.8M	$17.3M	20x	as long as short
MEXC OPENAI_USDTshort	+0.0050%	8h	1,615.2	−0.356%	$13.0M	$3.1M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,618.7	−0.134%	$373K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,614.7	−0.383%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,614.7	−0.386%	$2K	$168K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,614.8	−0.378%	—	—	10x	as long as short
Entropy io:OAI	+0.0117%	1h	1,665.1	+2.726%	$7.6M	$2.3M	6x	as long as short