Funding arb · Price arb /

OPENAI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Lighter against GRVT+5.832%78s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 5.832% dearer against GRVT than usual: you sell high and buy low (spread +5.832% now, against zero (this spread has no 7-day history yet)): +$583 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 13 months. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT OPENAI_USDT_Perp	1,618.8	0.0050	pay 0.0050% / 8h	1h 56m	$2K	$172K	10x
Short	Lighter OPENAI	1,713.2	0	get 0.0000% / 1h	56m 03s	$1.4M	$264K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GRVT. 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 GRVTbpFee LighterbpOrdersPrice spread, now +5.832%Rate

Funding earned: −$10.5
Price spread: +5.832% → 0.000%: $583.15
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $563.65
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: GRVT: live order book, 47 min ago; Lighter: live order book, 5 min ago. Net counts fees only.

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 GRVT live order book, 47 min ago	2.63 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	2.05 bp	19.5 bp −$20	98.3 bp −$983	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	−0.0002%	1h	1,619.4	+0.039%	$1.2M	$611K	10x	as long as short
Lighter OPENAIshort	0.0000%	1h	1,713.2	+5.832%	$1.4M	$264K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,661.5	+2.638%	$754K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,649.5	+1.899%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,616	−0.168%	$52.3M	$18.0M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,620.3	+0.096%	$5.4M	$4.7M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,620.3	+0.096%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,619.1	+0.022%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,620	+0.076%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,619.4	+0.037%	$1.6M	$517K	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	1,679.2	+3.734%	$2.7M	$6.0M	5x	as long as short
BloFin OPENAI-USDT	+0.0034%	8h	1,620	+0.077%	$472K	$291K	20x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	+0.388%	$226K	$163K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,619.3	+0.032%	$141K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,622.4	+0.226%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,619.7	+0.057%	$22.8M	$17.4M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,619.3	+0.031%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.5	+0.107%	$372K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,619.8	+0.068%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perplong	+0.0050%	8h	1,618.8	long leg	$2K	$172K	10x
Aevo OPENAI-PERP	+0.0104%	1h	1,618.9	+0.010%	—	—	10x	as long as short
Entropy io:OAI	+0.0137%	1h	1,670.2	+3.178%	$7.7M	$2.3M	6x	as long as short