Funding arb · Price arb /

OPENAI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h —

Price spread now: Gate against Deribit−0.229%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 14 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.229% cheaper against Deribit than usual: you would sell low and buy high, −$23 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit OPENAI_USDC-PERPETUAL	1,628.9	0	get 0.0000% / 1h	8m 15s	—	$3	5x
Short	Gate OPENAI_USDT	1,625.2	0	get 0.0000% / 8h	7h 08m	$52.6M	$39.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now −0.229%Rate

Funding earned: $0
Price spread: −0.229% → 0.000%: −$22.9
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$44.9
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Gate: live order book, 6 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 Deribit no order-book sample	—	—	—	—	—
Sell Gate live order book, 6 min ago	2.64 bp	17.5 bp −$18	350.1 bp −$3,501	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,628.8	−0.006%	$225K	$150K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,628.6	−0.019%	$1.2M	$415K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,713.8	+5.211%	$1.4M	$288K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,669.3	+2.481%	$768K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,659.1	+1.854%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDTshort	0.0000%	8h	1,625.2	−0.229%	$52.6M	$39.2M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,629.4	+0.031%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,628.7	−0.012%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUALlong	0.0000%	1h	1,628.9	long leg	—	$3	5x
HTX OPENAI-USDT	0.0000%	8h	1,629.5	+0.034%	$79K	$214K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,628.2	−0.046%	$1.6M	$564K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,681.4	+3.222%	$2.7M	$6.3M	5x	as long as short
BloFin OPENAI-USDT	+0.0033%	8h	1,629.2	+0.021%	$475K	$279K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,628.1	−0.046%	$132K	$716K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,636.4	+0.458%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,628.5	−0.024%	$23.1M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,628.5	−0.026%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,630.6	+0.106%	$378K	$67K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,628.5	−0.027%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.9	0.000%	$2K	$138K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,628.7	−0.015%	—	—	10x	as long as short
Entropy io:OAI	+0.0106%	1h	1,673.6	+2.744%	$7.4M	$2.2M	6x	as long as short