Funding you earn now, next payment 21:00 UTC−0.1080%/8h= −118.3% APRpaid last 24h −0.265%
Price spread now: OKX against Coinbase International+1.801%55s7-day average +1.558% · you sell dearer than you buy
Net, funding: paid 7d − costs−$236as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1611.608% of the position
Funding, last 7 days−0.757%−$76 on $10k
+Price spread, last 3 days (all we have)−1.095%−$110 · spread now +1.801%, 7d avg +1.558%
=The price spread pays, funding is against you. OKX is 0.243% dearer against Coinbase International than usual: you sell high and buy low (spread +1.801% now, against its 7-day average of +1.558%): +$24 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.757% in total) that is about 2.2 days. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International OPENAI-PERP-INTX | 1,633.2 | 0.1080 | pay 0.0135% / 1h | 1m 18s | $237K | $106K | 5x |
| Short | OKX OPENAI-USDT-SWAP | 1,662.6 | 0 | get 0.0000% / 8h | 2h 01m | $5.1M | $1.4M | 20x |
Coinbase International OPENAI-PERP-INTX
OKX OPENAI-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$226.8
- Price spread: +1.801% → +1.558%
- $24.3
- Slippage, 4 orders
- −$140.78
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$363.28
- Costs to cover
- 1.608%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 22 min ago; OKX: 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, 22 min ago | 25.21 bp | 41.6 bp −$42 | 66.9 bp −$669 | doesn't fit | doesn't fit |
| Sell OKX live order book, 1 min ago | 2.11 bp | 43.8 bp −$44 | 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 | 1,697.5 | +3.938% | $1.4M | $315K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,674.8 | +2.548% | $761K | $225K | 25x | as long as short |
| OKX OPENAI-USDT-SWAPshort | 0.0000% | 8h | 1,662.6 | +1.801% | $5.1M | $1.4M | 20x | |
| QFEX OPENAI-USD | 0.0000% | 1h | 1,629.6 | −0.220% | $1.2M | $363K | 10x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,625.5 | −0.468% | $52.9M | $48.6M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,630.1 | −0.190% | $5.5M | $5.1M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,631.8 | −0.085% | — | $2.6M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,630.6 | −0.157% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,629.6 | −0.218% | $79K | $212K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,629 | −0.257% | $1.6M | $584K | 10x | as long as short |
Lighter OPENAI
Bybit OPENAIUSDT
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 | 1,666 | +2.010% | $2.6M | $6.3M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,629.8 | −0.207% | $133K | $656K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,632.9 | −0.016% | $213K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,629.4 | −0.232% | $23.2M | $21.2M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,629 | −0.254% | $13.0M | $3.1M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,637.5 | +0.263% | $374K | $65K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,627.8 | −0.332% | $2.6M | $755K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,628.6 | −0.278% | $2K | $153K | 10x | as long as short |
| Entropy io:OAI | +0.0053% | 1h | 1,662.7 | +1.807% | $7.3M | $2.2M | 6x | as long as short |
| BloFin OPENAI-USDT | +0.0063% | 8h | 1,630.7 | −0.152% | $473K | $295K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,628.9 | −0.264% | — | — | 10x | as long as short |
| Coinbase International OPENAI-PERP-INTXlong | +0.1080% | 1h | 1,633.2 | 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
Entropy io:OAI
BloFin OPENAI-USDT
Aevo OPENAI-PERP