Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0091%/8h= −9.9% APRpaid last 24h −0.052%

Price spread now: KuCoin against Entropy−2.629%7-day average −4.406% · you buy dearer than you sell

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

Long on Entropy Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.501%−$50 on $10k

Price spread, last 4 days (all we have)−2.875%−$288 · spread now −2.629%, 7d avg −4.406%

Together, before fees−3.376%−$338 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 1.777% dearer against Entropy than usual: you sell high and buy low (spread −2.629% now, against its 7-day average of −4.406%): +$178 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−0.501% in total) that is about 25 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:OAI	1,667.1	0.0141	pay 0.0018% / 1h	30m 19s	$7.4M	$2.1M	6x
Short	KuCoin OPENAIUSDTM	1,623.3	0.0050	get 0.0050% / 8h	5h 30m	$374K	$71K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 KuCoinbpOrdersPrice spread, now −2.629%Rate

Funding earned: −$19.03
Price spread: −2.629% → −4.406%: $177.7
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $128.67
Costs to cover: 0.300%
Break-even: from the start

Slippage unknown: Entropy: live order book, 5 min ago; KuCoin: live order book, 67 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	1.20 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 67 min ago	13.85 bp	442.7 bp −$443	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
Coinbase International OPENAI-PERP-INTX	−0.0104%	1h	1,622.5	−2.676%	$225K	$159K	5x	as long as short
Lighter OPENAI	0.0000%	1h	1,709	+2.512%	$1.4M	$269K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,664.1	−0.182%	$761K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.9	−0.972%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.6	−2.850%	$52.4M	$28.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.9	−2.590%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.5	−2.555%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,623.9	−2.594%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.2	−2.693%	$78K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.9	−2.709%	$1.6M	$543K	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	1,623.6	−2.609%	$1.2M	$471K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,676.1	+0.538%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,623.4	−2.621%	$135K	$725K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,629.3	−2.265%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,623.9	−2.594%	$22.9M	$17.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.9	−2.654%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTMshort	+0.0050%	8h	1,623.3	−2.629%	$374K	$71K	20x
Variational Omni OPENAI	+0.0050%	8h	1,624	−2.587%	$2.6M	$754K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.3	−2.690%	$2K	$139K	10x	as long as short
BloFin OPENAI-USDT	+0.0069%	8h	1,623.3	−2.626%	$476K	$277K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,623.2	−2.631%	—	—	10x	as long as short
Entropy io:OAIlong	+0.0141%	1h	1,667.1	long leg	$7.4M	$2.1M	6x