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Funding arb · Price arb /

OPENAI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.014%
Price spread now: Extended against Gate+0.210%7-day average +0.141% · you sell dearer than you buy
Net, funding: paid 7d − costs−$111as in the Funding arb table
Net, price: spread back to 7d avg − costs−$114as in the Price arb table
costs, in and out, $10k−$1211.210% of the position
Long on GateShort on Extended
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)−0.161%−$16 · spread now +0.210%, 7d avg +0.141%
Together, before fees−0.061%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.069% dearer against Gate than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.141%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate OPENAI_USDT1,628.30get 0.0000% / 8h7h 58m$52.7M$39.1M50x
ShortExtended OPENAI-USD1,631.70.0048get 0.0006% / 1h58m 19s$132K$662K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended against Gate. 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

Funding earned
$10.08
Price spread: +0.210% → +0.141%
$6.94
Slippage, 4 orders
−$100.97
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$103.95
Costs to cover
1.210%
Break-even
79.2 days
Slippage from Gate: live order book, 6 min ago; Extended: live order book, 15 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 6 min ago2.82 bp20.7 bp −$21207.8 bp −$2,078doesn't fitdoesn't fit
Sell Extended live order book, 15 min ago3.68 bp37.5 bp −$37262.4 bp −$2,624doesn't fitdoesn't fit

OPENAI on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International OPENAI-PERP-INTX−0.0024%1h1,633.7+0.331%$235K$150K5xas long as short
QFEX OPENAI-USD0.0000%1h1,631.5+0.194%$1.2M$387K10xas long as short
Lighter OPENAI0.0000%1h1,713.9+5.256%$1.4M$282K5xas long as short
Bybit OPENAIUSDT0.0000%8h1,677.4+3.013%$772K$209K25xas long as short
OKX OPENAI-USDT-SWAP0.0000%8h1,661.5+2.040%$5.1M$1.4M20xas long as short
Gate OPENAI_USDTlong0.0000%8h1,628.3long leg$52.7M$39.1M50x
Bitget OPENAIUSDT0.0000%8h1,633.6+0.329%$5.5M$5.1M20xas long as short
SunX OPENAI-USDT0.0000%8h1,633+0.289%—$2.6M10xas long as short
Deribit OPENAI_USDC-PERPETUAL0.0000%1h1,632.6+0.267%—$35xas long as short
HTX OPENAI-USDT0.0000%8h1,634+0.351%$79K$214K20xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex OPENAIUSDT0.0000%8h1,631.2+0.179%$1.6M$559K10xas long as short
Lighter RH OPENAI+0.0032%1h1,683.8+3.412%$2.7M$6.2M5xas long as short
BloFin OPENAI-USDT+0.0043%8h1,632.3+0.249%$473K$279K20xas long as short
Extended OPENAI-USDshort+0.0048%1h1,631.7+0.210%$132K$662K10x
Aster OPENAIUSDT+0.0050%8h1,635.8+0.463%$213K$3K20xas long as short
Binance OPENAIUSDT+0.0050%8h1,632+0.228%$23.2M$18.9M20xas long as short
MEXC OPENAI_USDT+0.0050%8h1,631.8+0.216%$13.1M$3.2M50xas long as short
KuCoin OPENAIUSDTM+0.0050%8h1,639.3+0.679%$377K$65K20xas long as short
Variational Omni OPENAI+0.0050%8h1,635.7+0.454%$2.6M$751K—as long as short
GRVT OPENAI_USDT_Perp+0.0050%8h1,634+0.351%$3K$140K10xas long as short
Aevo OPENAI-PERP+0.0104%1h1,631.7+0.210%——10xas long as short
Entropy io:OAI+0.0176%1h1,676.8+2.979%$7.4M$2.2M6xas long as short