Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.006%

Price spread now: QFEX against GRVT−0.216%7-day average +0.009% · you buy dearer than you sell

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

Long on GRVT Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.049%−$5 on $10k

Price spread, last 4 days (all we have)+0.141%+$14 · spread now −0.216%, 7d avg +0.009%

Together, before fees+0.092%+ Points / potential airdropGRVT: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and QFEX is 0.225% cheaper against GRVT than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT OPENAI_USDT_Perp	1,627.4	0.0050	pay 0.0050% / 8h	6h 47m	$2K	$137K	10x
Short	QFEX OPENAI-USD	1,623.8	−0.0004	pay 0.0001% / 1h	47m 06s	$1.2M	$420K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.216%Rate

Funding earned: −$11.37
Price spread: −0.216% → +0.009%: −$22.5
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$52.87
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 15 min ago; QFEX: live order book, 9 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, 15 min ago	2.64 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 9 min ago	1.78 bp	6.8 bp −$7	7.4 bp −$74	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	−0.0004%	1h	1,623.8	−0.216%	$1.2M	$420K	10x
Lighter OPENAI	0.0000%	1h	1,712.5	+5.231%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,667.9	+2.494%	$765K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652.8	+1.564%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,621	−0.388%	$52.4M	$31.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,624.9	−0.150%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,626.7	−0.040%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,624.1	−0.202%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,627.1	−0.017%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,623.8	−0.221%	$1.6M	$562K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0024%	1h	1,625.3	−0.125%	$222K	$155K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,680.2	+3.245%	$2.7M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,625.4	−0.118%	$136K	$722K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,632	+0.285%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,625	−0.142%	$23.0M	$19.0M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,624.1	−0.201%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,632.1	+0.289%	$380K	$67K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,628.2	+0.051%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perplong	+0.0050%	8h	1,627.4	long leg	$2K	$137K	10x
BloFin OPENAI-USDT	+0.0059%	8h	1,629.3	+0.117%	$477K	$280K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,624.7	−0.163%	—	—	10x	as long as short
Entropy io:OAI	+0.0146%	1h	1,673.2	+2.817%	$7.4M	$2.2M	6x	as long as short