Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.001%

Price spread now: QFEX against Gate+0.185%7-day average +0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days+0.002%$0 · spread now +0.185%, 7d avg +0.126%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.059% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OPENAI_USDT	1,618.4	0	get 0.0000% / 8h	3h 52m	$52.4M	$25.3M	50x
Short	QFEX OPENAI-USD	1,621.4	−0.0001	pay 0.0000% / 1h	52m 15s	$1.2M	$557K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.185%Rate

Funding earned: −$0.27
Price spread: +0.185% → +0.126%: $5.85
Slippage, 4 orders: −$16.27
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$35.69
Costs to cover: 0.413%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; QFEX: live order book, 4 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, 2 min ago	2.38 bp	13.2 bp −$13	260.6 bp −$2,606	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.07 bp	9.3 bp −$9	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
QFEX OPENAI-USDshort	−0.0001%	1h	1,621.4	+0.185%	$1.2M	$557K	10x
Lighter OPENAI	0.0000%	1h	1,712.2	+5.797%	$1.4M	$265K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,663.5	+2.788%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,651.4	+2.039%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDTlong	0.0000%	8h	1,618.4	long leg	$52.4M	$25.3M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,623.3	+0.304%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623	+0.284%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,622.8	+0.272%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.6	+0.261%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.4	+0.184%	$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
Lighter RH OPENAI	+0.0032%	1h	1,680.2	+3.816%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,620.9	+0.157%	$141K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.8	+0.579%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,621.4	+0.184%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,621.6	+0.195%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	+0.428%	$375K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,620.9	+0.153%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,621.9	+0.214%	$2K	$153K	10x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0056%	1h	1,622.7	+0.268%	$226K	$161K	5x	as long as short
BloFin OPENAI-USDT	+0.0065%	8h	1,622.3	+0.240%	$473K	$286K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,621.5	+0.191%	—	—	10x	as long as short
Entropy io:OAI	+0.0163%	1h	1,674.2	+3.448%	$7.7M	$2.3M	6x	as long as short