Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.049%

Price spread now: GRVT against Entropy−3.099%7-day average −4.382% · you buy dearer than you sell

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

Long on Entropy Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.493%−$49 on $10k

Price spread, last 4 days (all we have)−2.474%−$247 · spread now −3.099%, 7d avg −4.382%

Together, before fees−2.967%+ Points / potential airdropGRVT: Active · farm board−$297 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 1.283% dearer against Entropy than usual: you sell high and buy low (spread −3.099% now, against its 7-day average of −4.382%): +$128 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 44 days. At the pace of the last 7 days (−0.493% in total) that is about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:OAI	1,666.4	0.0148	pay 0.0018% / 1h	53m 05s	$7.6M	$2.3M	6x
Short	GRVT OPENAI_USDT_Perp	1,614.8	0.0050	get 0.0050% / 8h	2h 53m	$2K	$162K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −3.099%Rate

Funding earned: −$20.56
Price spread: −3.099% → −4.382%: $128.28
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $80.72
Costs to cover: 0.270%
Break-even: from the start

Slippage unknown: Entropy: live order book, 4 min ago; GRVT: live order book, 55 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, 4 min ago	0.30 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 55 min ago	1.51 bp	doesn't fit	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
QFEX OPENAI-USD	−0.0005%	1h	1,614.1	−3.142%	$1.2M	$595K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,706.2	+2.391%	$1.4M	$260K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,658.5	−0.474%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,646.5	−1.194%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,611.3	−3.310%	$52.2M	$19.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,616.7	−2.982%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,616.7	−2.982%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,614.6	−3.107%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,614.5	−3.115%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,613.9	−3.148%	$1.6M	$530K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0016%	1h	1,615.4	−3.060%	$225K	$160K	5x	as long as short
BloFin OPENAI-USDT	+0.0023%	8h	1,614.3	−3.124%	$473K	$286K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,673.7	+0.438%	$2.6M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,613.8	−3.157%	$142K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,617	−2.967%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,614.1	−3.136%	$22.8M	$17.4M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,614.5	−3.113%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620	−2.784%	$373K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,614.4	−3.120%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perpshort	+0.0050%	8h	1,614.8	−3.099%	$2K	$162K	10x
Aevo OPENAI-PERP	+0.0104%	1h	1,613.8	−3.157%	—	—	10x	as long as short
Entropy io:OAIlong	+0.0148%	1h	1,666.4	long leg	$7.6M	$2.3M	6x