Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0134%/8h= −14.7% APRpaid last 24h −0.067%

Price spread now: Gate against Entropy−2.828%7-day average −5.433% · you buy dearer than you sell

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

Long on Entropy Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.606%−$61 on $10k

Price spread, last 7 days−3.776%−$378 · spread now −2.828%, 7d avg −5.433%

Together, before fees−4.382%−$438 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 2.605% dearer against Entropy than usual: you sell high and buy low (spread −2.828% now, against its 7-day average of −5.433%): +$261 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−0.606% in total) that is about 30 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:OAI	1,667	0.0134	pay 0.0017% / 1h	35m 03s	$7.4M	$2.1M	6x
Short	Gate OPENAI_USDT	1,619.9	0	get 0.0000% / 8h	5h 35m	$52.4M	$28.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −2.828%Rate

Funding earned: −$28.16
Price spread: −2.828% → −5.433%: $260.5
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $199.34
Costs to cover: 0.330%
Break-even: from the start

Slippage unknown: Entropy: live order book, 12 min ago; Gate: live order book, 4 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, 12 min ago	3.00 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.98 bp	11.0 bp −$11	1537.8 bp −$15.4K	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
Coinbase International OPENAI-PERP-INTX	−0.0104%	1h	1,625.2	−2.507%	$225K	$159K	5x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.8	+2.506%	$1.4M	$269K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,664.4	−0.158%	$763K	$203K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,653.2	−0.828%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDTshort	0.0000%	8h	1,619.9	−2.828%	$52.4M	$28.7M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,624.4	−2.553%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,622.3	−2.681%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,624.7	−2.540%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.8	−2.589%	$78K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.5	−2.669%	$1.6M	$542K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX OPENAI-USD	0.0000%	1h	1,623.1	−2.632%	$1.2M	$469K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,676.1	+0.547%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0041%	8h	1,622.9	−2.648%	$476K	$277K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622.7	−2.660%	$135K	$725K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,628.8	−2.289%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,623.1	−2.632%	$22.9M	$17.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,623.2	−2.630%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,623.3	−2.623%	$374K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.2	−2.686%	$2.6M	$754K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.2	−2.686%	$2K	$139K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.9	−2.648%	—	—	10x	as long as short
Entropy io:OAIlong	+0.0134%	1h	1,667	long leg	$7.4M	$2.1M	6x