Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h +0.189%

Price spread now: Lighter against HTX+5.492%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs+$474as in the Price arb table

costs, in and out, $10k−$750.749% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.191%+$19 on $10k

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

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 5.492% dearer against HTX than usual: you sell high and buy low, +$549 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OPENAI-USDT	1,625	0	get 0.0000% / 8h	4h 21m	$79K	$219K	20x
Short	Lighter OPENAI	1,714.2	0.0008	get 0.0001% / 1h	21m 10s	$1.4M	$266K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +5.492%Rate

Funding earned: $1.68
Price spread: +5.492% → 0.000%: $549.19
Slippage, 4 orders: −$62.88
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $475.99
Costs to cover: 0.749%
Break-even: from the start

Slippage from HTX: live order book, 35 min ago; Lighter: live order book, 5 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, 35 min ago	3.42 bp	16.6 bp −$17	40.8 bp −$408	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.28 bp	20.9 bp −$21	89.3 bp −$893	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
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,624.9	−0.001%	$226K	$161K	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,623.5	−0.092%	$1.2M	$548K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,664	+2.406%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,651.3	+1.622%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,620.4	−0.278%	$52.4M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,625.2	+0.016%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.1	−0.052%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,623.6	−0.084%	—	$3	5x	as long as short
HTX OPENAI-USDTlong	0.0000%	8h	1,625	long leg	$79K	$219K	20x
Phemex OPENAIUSDT	0.0000%	8h	1,623.1	−0.113%	$1.6M	$546K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OPENAIshort	+0.0008%	1h	1,714.2	+5.492%	$1.4M	$266K	5x
Lighter RH OPENAI	+0.0032%	1h	1,681.5	+3.477%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,623.4	−0.098%	$144K	$736K	10x	as long as short
BloFin OPENAI-USDT	+0.0048%	8h	1,623.7	−0.077%	$474K	$284K	20x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,628.5	+0.217%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,623.8	−0.070%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,623.9	−0.062%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	+0.023%	$375K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,623.6	−0.081%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624.1	−0.053%	$2K	$149K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,623.4	−0.093%	—	—	10x	as long as short
Entropy io:OAI	+0.0264%	1h	1,675.8	+3.129%	$7.7M	$2.3M	6x	as long as short