Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.252%

Price spread now: HTX against Entropy−3.006%7-day average −4.358% · you buy dearer than you sell

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

Long on Entropy Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.786%−$79 on $10k

Price spread, last 4 days (all we have)−2.604%−$260 · spread now −3.006%, 7d avg −4.358%

Together, before fees−3.390%−$339 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 1.352% dearer against Entropy than usual: you sell high and buy low (spread −3.006% now, against its 7-day average of −4.358%): +$135 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 32 days. At the pace of the last 7 days (−0.786% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:OAI	1,670.2	0.0139	pay 0.0017% / 1h	54m 34s	$7.7M	$2.3M	6x
Short	HTX OPENAI-USDT	1,620	0	get 0.0000% / 8h	1h 54m	$79K	$226K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −3.006%Rate

Funding earned: −$29.18
Price spread: −3.006% → −4.358%: $135.2
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee HTX: 6 bp × 2 orders: −$12
Net: $76.02
Costs to cover: 0.300%
Break-even: from the start

Slippage unknown: Entropy: live order book, 1 min ago; HTX: live order book, 52 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, 1 min ago	4.19 bp	32.1 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 52 min ago	3.50 bp	19.0 bp −$19	63.6 bp −$636	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	−0.0002%	1h	1,618.9	−3.070%	$1.2M	$611K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.9	+2.554%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,661.5	−0.523%	$754K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,649.5	−1.239%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,615.7	−3.262%	$52.3M	$18.0M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,619.4	−3.043%	$5.4M	$4.7M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,619.7	−3.024%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,619.2	−3.055%	—	$3	5x	as long as short
HTX OPENAI-USDTshort	0.0000%	8h	1,620	−3.006%	$79K	$226K	20x
Phemex OPENAIUSDT	0.0000%	8h	1,619.5	−3.036%	$1.6M	$517K	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	1,679.3	+0.546%	$2.7M	$6.0M	5x	as long as short
BloFin OPENAI-USDT	+0.0037%	8h	1,620	−3.006%	$472K	$290K	20x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	−2.704%	$226K	$163K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,618.9	−3.069%	$141K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,622	−2.885%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,619.4	−3.043%	$22.8M	$17.4M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,619.3	−3.047%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.5	−2.976%	$372K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,619	−3.066%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,619.2	−3.056%	$2K	$173K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,618.6	−3.090%	—	—	10x	as long as short
Entropy io:OAIlong	+0.0139%	1h	1,670.2	long leg	$7.7M	$2.3M	6x