Funding you earn now, next payment 23:00 UTC−0.0028%/8h= −3.0% APRpaid last 24h −0.059%
Price spread now: Binance against Entropy−2.602%7-day average −4.170% · you buy dearer than you sell
Net, funding: paid 7d − costs−$158as in the Funding arb table
Net, price: spread back to 7d avg − costs+$50as in the Price arb table
costs, in and out, $10k−$1071.069% of the position
Funding, last 7 days−0.510%−$51 on $10k
+Price spread, last 2 days (all we have)−1.062%−$106 · spread now −2.602%, 7d avg −4.170%
=The price spread pays, funding is against you. Binance is 1.568% dearer against Entropy than usual: you sell high and buy low (spread −2.602% now, against its 7-day average of −4.170%): +$157 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6 months. At the pace of the last 7 days (−0.510% in total) that is about 22 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Entropy io:OAI | 1,660.8 | 0.0078 | pay 0.0010% / 1h | 28m 12s | $7.3M | $2.2M | 6x |
| Short | Binance OPENAIUSDT | 1,617.6 | 0.0050 | get 0.0050% / 8h | 1h 28m | $23.0M | $20.5M | 20x |
Entropy io:OAI
Binance OPENAIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Entropy. 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
- −$5.81
- Price spread: −2.602% → −4.170%
- $156.78
- Slippage, 4 orders
- −$78.91
- Fee Entropy: 9 bp × 2 orders
- −$18
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $44.06
- Costs to cover
- 1.069%
- Break-even
- from the start
Slippage from Entropy: live order book, 9 min ago; Binance: live order book, 13 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 Entropy live order book, 9 min ago | 8.42 bp | 32.8 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 13 min ago | 1.75 bp | 17.7 bp −$18 | 54.6 bp −$546 | 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 | 1,618.8 | −2.530% | $1.2M | $386K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,693.7 | +1.982% | $1.4M | $291K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,666.9 | +0.364% | $759K | $226K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,650.1 | −0.644% | $5.1M | $1.4M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,615.8 | −2.710% | $52.5M | $40.7M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,620.5 | −2.425% | $5.5M | $5.1M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,620.7 | −2.414% | — | $2.6M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,620.3 | −2.437% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,619.1 | −2.514% | $78K | $213K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,617.2 | −2.626% | $1.6M | $578K | 10x | as long as short |
QFEX OPENAI-USD
Lighter OPENAI
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin OPENAI-USDT | +0.0026% | 8h | 1,618.5 | −2.548% | $472K | $294K | 20x | as long as short |
| Lighter RH OPENAI | +0.0032% | 1h | 1,664.8 | +0.241% | $2.6M | $6.3M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,618.5 | −2.550% | $131K | $670K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,624.9 | −2.163% | $212K | $3K | 20x | as long as short |
| Binance OPENAIUSDTshort | +0.0050% | 8h | 1,617.6 | −2.602% | $23.0M | $20.5M | 20x | |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,617.7 | −2.593% | $12.9M | $3.1M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,636.1 | −1.486% | $377K | $64K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,618.6 | −2.541% | $2.6M | $757K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,619.8 | −2.470% | $2K | $152K | 10x | as long as short |
| Entropy io:OAIlong | +0.0078% | 1h | 1,660.8 | long leg | $7.3M | $2.2M | 6x | |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,618.6 | −2.542% | — | — | 10x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.0456% | 1h | 1,620.2 | −2.448% | $235K | $138K | 5x | as long as short |
BloFin OPENAI-USDT
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
Aevo OPENAI-PERP
Coinbase International OPENAI-PERP-INTX