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 +0.404%

Price spread now: Coinbase International against HTX+0.299%7-day average +0.452% · you sell dearer than you buy

Net, funding: paid 7d − costs+$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$630.631% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.006%+$101 on $10k

Price spread, last 4 days (all we have)+0.523%+$52 · spread now +0.299%, 7d avg +0.452%

Together, before fees+1.529%+$153 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.153% cheaper against HTX than usual: you would sell low and buy high (spread +0.299% now, against its 7-day average of +0.452%). If the spread goes back, that is −$15 on $10k: about 36 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OPENAI-USDT	1,624.1	0	get 0.0000% / 8h	7h 48m	$79K	$225K	20x
Short	Coinbase International OPENAI-PERP-INTX	1,629	0.0344	get 0.0043% / 1h	48m 35s	$236K	$172K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.299%Rate

Funding earned: $72.24
Price spread: +0.299% → +0.452%: −$15.33
Slippage, 4 orders: −$41.11
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$6.2
Costs to cover: 0.631%
Break-even: 7.6 days

Slippage from HTX: live order book, 48 min ago; Coinbase International: live order book, 49 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 HTX live order book, 48 min ago	3.37 bp	14.1 bp −$14	40.7 bp −$407	doesn't fit	doesn't fit
Sell Coinbase International live order book, 49 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	1,623.7	−0.028%	$1.2M	$628K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,660.5	+2.240%	$727K	$274K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.7	+1.635%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,620.9	−0.200%	$45.7M	$9.4M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,624.7	+0.031%	$5.4M	$3.9M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.1	−0.002%	—	$2.3M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,623.9	−0.017%	—	$3	5x	as long as short
HTX OPENAI-USDTlong	0.0000%	8h	1,624.1	long leg	$79K	$225K	20x
Phemex OPENAIUSDT	0.0000%	8h	1,624.2	+0.004%	$1.6M	$499K	10x	as long as short
Lighter OPENAI	+0.0008%	1h	1,711.5	+5.380%	$1.4M	$273K	5x	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	1,680.1	+3.444%	$2.7M	$6.1M	5x	as long as short
BloFin OPENAI-USDT	+0.0032%	8h	1,623.9	−0.015%	$475K	$296K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,623.2	−0.056%	$141K	$808K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,626.2	+0.126%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,623.7	−0.025%	$22.9M	$16.4M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,625.6	+0.089%	$6.6M	$2.4M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.6	+0.030%	$374K	$91K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,624.4	+0.016%	$2.6M	$760K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,621.9	−0.137%	$2K	$176K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,623.4	−0.044%	—	—	10x	as long as short
Entropy io:OAI	+0.0272%	1h	1,668.5	+2.731%	$7.6M	$2.3M	6x	as long as short
Coinbase International OPENAI-PERP-INTXshort	+0.0344%	1h	1,629	+0.299%	$236K	$172K	5x