OPENAI

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.50 per $10,000 · paid last 24h −0.015%

Price spread now: Bybit against KuCoin+2.120%7-day average +2.866% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,235as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,299as in the Price arb table

costs, in and out, $10k−$1,22512.245% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 4 days (all we have)+0.653%+$65 · spread now +2.120%, 7d avg +2.866%

Together, before fees+0.548%+$55 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 Bybit is 0.746% cheaper against KuCoin than usual: you would sell low and buy high (−$75 if the spread goes back to its 7-day average of +2.866%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPENAIUSDTM	1,637.1	0.0050	pay 0.0050% / 8h	7h 29m	$379K	$65K	20x
Short	Bybit OPENAIUSDT	1,671.8	0	get 0.0000% / 8h	7h 29m	$769K	$208K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now +2.120%Rate

Funding earned: −$10.5
Price spread: +2.120% → +2.866%: −$74.64
Slippage, 4 orders: −$1,201.52
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,309.66
Costs to cover: 12.245%
Break-even: never at this rate

Slippage from KuCoin: live order book, 22 min ago; Bybit: live order book, 40 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 KuCoin live order book, 22 min ago	6.72 bp	581.4 bp −$581	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 40 min ago	12.60 bp	85.9 bp −$86	395.1 bp −$3,951	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	1,628.1	−0.551%	$228K	$146K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,629	−0.493%	$1.2M	$416K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,710.8	+4.501%	$1.4M	$283K	5x	as long as short
Bybit OPENAIUSDTshort	0.0000%	8h	1,671.8	+2.120%	$769K	$208K	25x
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,660	+1.399%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,626.4	−0.653%	$52.6M	$39.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,629.3	−0.475%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,628.5	−0.525%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,628	−0.554%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,630.2	−0.421%	$79K	$214K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,628.6	−0.517%	$1.6M	$560K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,682.6	+2.779%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,628.7	−0.515%	$133K	$949K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,635.7	−0.087%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,629	−0.494%	$23.1M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,629	−0.493%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTMlong	+0.0050%	8h	1,637.1	long leg	$379K	$65K	20x
Variational Omni OPENAI	+0.0050%	8h	1,628.8	−0.507%	$2.6M	$753K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,627.7	−0.574%	$2K	$138K	10x	as long as short
BloFin OPENAI-USDT	+0.0061%	8h	1,628.7	−0.512%	$475K	$278K	20x	as long as short
Entropy io:OAI	+0.0100%	1h	1,674.6	+2.291%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,628.7	−0.515%	—	—	10x	as long as short