Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.072%

Price spread now: OKX against Entropy−0.824%7-day average −3.369% · you buy dearer than you sell

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs+$136as in the Price arb table

costs, in and out, $10k−$1181.184% of the position

Long on Entropy Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.610%−$61 on $10k

Price spread, last 7 days−3.482%−$348 · spread now −0.824%, 7d avg −3.369%

Together, before fees−4.093%−$409 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 2.545% dearer against Entropy than usual: you sell high and buy low (spread −0.824% now, against its 7-day average of −3.369%): +$254 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3 months. At the pace of the last 7 days (−0.610% in total) that is about 29 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:OAI	1,674.1	0.0088	pay 0.0011% / 1h	31m 22s	$7.4M	$2.2M	6x
Short	OKX OPENAI-USDT-SWAP	1,660.3	0	get 0.0000% / 8h	7h 31m	$5.1M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.824%Rate

Funding earned: −$18.39
Price spread: −0.824% → −3.369%: $254.47
Slippage, 4 orders: −$90.39
Fee Entropy: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: $117.69
Costs to cover: 1.184%
Break-even: from the start

Slippage from Entropy: live order book, 6 min ago; OKX: live order book, 1 min ago.

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, 6 min ago	1.20 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.51 bp	38.3 bp −$38	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	−0.0024%	1h	1,628.4	−2.730%	$228K	$146K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,628.2	−2.742%	$1.2M	$415K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,709.7	+2.125%	$1.4M	$283K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,671.7	−0.145%	$770K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAPshort	0.0000%	8h	1,660.3	−0.824%	$5.1M	$1.3M	20x
Gate OPENAI_USDT	0.0000%	8h	1,626.1	−2.867%	$52.6M	$39.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,629	−2.695%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,628.7	−2.712%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,627.8	−2.763%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,627.7	−2.770%	$79K	$214K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,628.1	−2.746%	$1.6M	$560K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,681.6	+0.450%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,627.9	−2.762%	$133K	$951K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,634.8	−2.345%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,628.5	−2.726%	$23.1M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,629	−2.694%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,637.1	−2.211%	$379K	$65K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,626.9	−2.818%	$2.6M	$753K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,627.6	−2.778%	$2K	$138K	10x	as long as short
BloFin OPENAI-USDT	+0.0063%	8h	1,626.8	−2.823%	$475K	$277K	20x	as long as short
Entropy io:OAIlong	+0.0088%	1h	1,674.1	long leg	$7.4M	$2.2M	6x
Aevo OPENAI-PERP	+0.0104%	1h	1,627.8	−2.768%	—	—	10x	as long as short