OPENAI

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.1043%/8h= +114.2% APRnext payment +$1.30 per $10,000 · paid last 24h +0.189%

Price spread now: Coinbase International against Entropy−1.701%7-day average −4.067% · you buy dearer than you sell

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

Long on Entropy Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 3 days (all we have)−2.643%−$264 · spread now −1.701%, 7d avg −4.067%

Together, before fees−2.506%−$251 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Coinbase International is 2.365% dearer against Entropy than usual: you sell high and buy low: +$237 more if the spread goes back to its 7-day average of −4.067%.

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 +$1.30 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	Entropy io:OAI	1,662.2	0.0037	pay 0.0005% / 1h	9m 54s	$7.3M	$2.2M	6x
Short	Coinbase International OPENAI-PERP-INTX	1,633.9	0.1080	get 0.0135% / 1h	9m 54s	$237K	$106K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Entropy. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 EntropybpFee Coinbase InternationalbpOrdersPrice spread, now −1.701%Rate

Funding earned: $219.05
Price spread: −1.701% → −4.067%: $236.52
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $427.58
Costs to cover: 0.280%
Break-even: from the start

Slippage unknown: Entropy: live order book, 5 min ago; Coinbase International: live order book, 13 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 Entropy live order book, 5 min ago	6.93 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 13 min ago	25.21 bp	39.0 bp −$39	60.4 bp −$604	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	1,699.7	+2.258%	$1.4M	$315K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,676.3	+0.848%	$762K	$225K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,661.7	−0.030%	$5.1M	$1.4M	20x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,627.2	−2.103%	$1.2M	$361K	10x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,626.2	−2.165%	$52.9M	$48.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,631.8	−1.830%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,629.6	−1.961%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,628.6	−2.019%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,628.9	−2.002%	$79K	$212K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,628.6	−2.024%	$1.6M	$584K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAI	+0.0032%	1h	1,664.9	+0.163%	$2.6M	$6.3M	5x	as long as short
Entropy io:OAIlong	+0.0037%	1h	1,662.2	long leg	$7.3M	$2.2M	6x
Extended OPENAI-USD	+0.0048%	1h	1,629	−1.998%	$133K	$656K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,632.7	−1.776%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,629.2	−1.987%	$23.2M	$21.2M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,629.5	−1.970%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,640.2	−1.321%	$375K	$65K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,627.4	−2.091%	$2.6M	$755K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,625.7	−2.195%	$2K	$154K	10x	as long as short
BloFin OPENAI-USDT	+0.0065%	8h	1,628.4	−2.031%	$476K	$295K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,627.2	−2.106%	—	—	10x	as long as short
Coinbase International OPENAI-PERP-INTXshort	+0.1080%	1h	1,633.9	−1.701%	$237K	$106K	5x