Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0344%/8h= +37.7% APRpaid last 24h +0.220%

Price spread now: Coinbase International against Gate+0.229%7-day average +0.630% · you sell dearer than you buy

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$660.657% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.815%+$82 on $10k

Price spread, last 4 days (all we have)+1.029%+$103 · spread now +0.229%, 7d avg +0.630%

Together, before fees+1.844%+$184 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.401% cheaper against Gate than usual: you would sell low and buy high (spread +0.229% now, against its 7-day average of +0.630%). If the spread goes back, that is −$40 on $10k: about 3.9 days of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OPENAI_USDT	1,620	0	get 0.0000% / 8h	7h 55m	$45.6M	$9.0M	50x
Short	Coinbase International OPENAI-PERP-INTX	1,623.7	0.0344	get 0.0043% / 1h	55m 35s	$235K	$173K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.229%Rate

Funding earned: $72.24
Price spread: +0.229% → +0.630%: −$40.07
Slippage, 4 orders: −$40.69
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$33.52
Costs to cover: 0.657%
Break-even: 10.2 days

Slippage from Gate: live order book, 3 min ago; Coinbase International: live order book, 42 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 Gate live order book, 3 min ago	0.16 bp	9.4 bp −$9	195.2 bp −$1,952	doesn't fit	doesn't fit
Sell Coinbase International live order book, 42 min ago	8.07 bp	15.1 bp −$15	46.7 bp −$467	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	−0.0004%	1h	1,621.2	+0.072%	$1.2M	$631K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,709	+5.489%	$1.4M	$272K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,657.8	+2.333%	$733K	$270K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,648.3	+1.745%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDTlong	0.0000%	8h	1,620	long leg	$45.6M	$9.0M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,621.6	+0.096%	$5.4M	$4.2M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,621.2	+0.072%	—	$2.4M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,619.8	−0.014%	$79K	$225K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.4	+0.087%	$1.6M	$499K	10x	as long as short
BloFin OPENAI-USDT	+0.0030%	8h	1,620.5	+0.030%	$479K	$296K	20x	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	1,677	+3.514%	$2.7M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,620.8	+0.045%	$141K	$808K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,623.8	+0.231%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,621.2	+0.072%	$22.9M	$16.7M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,620.7	+0.040%	$6.6M	$2.4M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,621.6	+0.099%	$374K	$83K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,621.7	+0.104%	$2.6M	$760K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,618.1	−0.119%	$2K	$176K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,620.9	+0.052%	—	—	10x	as long as short
Entropy io:OAI	+0.0207%	1h	1,665.8	+2.825%	$7.6M	$2.3M	6x	as long as short
Coinbase International OPENAI-PERP-INTXshort	+0.0344%	1h	1,623.7	+0.229%	$235K	$173K	5x
Deribit OPENAI_USDC-PERPETUAL	+0.0729%	1h	1,622.2	+0.136%	—	$3	5x	as long as short