Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.014%

Price spread now: Bybit against Extended+2.844%7-day average +2.963% · you sell dearer than you buy

Net, funding: paid 7d − costs−$228as in the Funding arb table

Net, price: spread back to 7d avg − costs−$230as in the Price arb table

costs, in and out, $10k−$2182.177% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)−0.185%−$19 · spread now +2.844%, 7d avg +2.963%

Together, before fees−0.286%+ Points / potential airdropExtended: Active · farm board−$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.119% cheaper against Extended than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +2.963%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended OPENAI-USD	1,622.7	0.0048	pay 0.0006% / 1h	48m 49s	$131K	$667K	10x
Short	Bybit OPENAIUSDT	1,668.8	0	get 0.0000% / 8h	48m 49s	$764K	$223K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now +2.844%Rate

Funding earned: −$10.08
Price spread: +2.844% → +2.963%: −$11.9
Slippage, 4 orders: −$201.7
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$239.69
Costs to cover: 2.177%
Break-even: never at this rate

Slippage from Extended: live order book, 29 min ago; Bybit: live order book, 26 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 Extended live order book, 29 min ago	3.40 bp	40.5 bp −$41	270.8 bp −$2,708	doesn't fit	doesn't fit
Sell Bybit live order book, 26 min ago	10.55 bp	65.5 bp −$66	377.9 bp −$3,779	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	−0.0168%	1h	1,625.4	+0.165%	$236K	$143K	5x	as long as short
QFEX OPENAI-USD	−0.0010%	1h	1,622.8	+0.006%	$1.2M	$387K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,701.2	+4.839%	$1.4M	$286K	5x	as long as short
Bybit OPENAIUSDTshort	0.0000%	8h	1,668.8	+2.844%	$764K	$223K	25x
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,653.2	+1.880%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,620.3	−0.146%	$52.7M	$39.4M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.6	+0.055%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.2	+0.032%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,624.4	+0.106%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.3	+0.036%	$79K	$213K	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	1,623.9	+0.072%	$1.6M	$561K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,673.6	+3.136%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USDlong	+0.0048%	1h	1,622.7	long leg	$131K	$667K	10x
Aster OPENAIUSDT	+0.0050%	8h	1,627.8	+0.316%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,623	+0.019%	$23.1M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,623.2	+0.034%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,627.7	+0.310%	$376K	$65K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.3	−0.021%	$2.6M	$753K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,621	−0.105%	$2K	$142K	10x	as long as short
BloFin OPENAI-USDT	+0.0071%	8h	1,623.1	+0.028%	$471K	$275K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.8	+0.004%	—	—	10x	as long as short
Entropy io:OAI	+0.0206%	1h	1,663.3	+2.503%	$7.3M	$2.2M	6x	as long as short