Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0218%/8h= −23.9% APRpaid last 24h +0.254%

Price spread now: Coinbase International against KuCoin−0.066%7-day average +0.398% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,017as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,128as in the Price arb table

costs, in and out, $10k−$1,08110.812% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.647%+$65 on $10k

Price spread, last 3 days (all we have)+1.061%+$106 · spread now −0.066%, 7d avg +0.398%

Together, before fees+1.708%+$171 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Coinbase International is 0.463% cheaper against KuCoin than usual: you would sell low and buy high (−$46 if the spread goes back to its 7-day average of +0.398%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.647%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPENAIUSDTM	1,633.3	0.0050	pay 0.0050% / 8h	17m 13s	$377K	$63K	20x
Short	Coinbase International OPENAI-PERP-INTX	1,632.3	−0.0168	pay 0.0021% / 1h	17m 13s	$236K	$149K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$45.78
Price spread: −0.066% → +0.398%: −$46.35
Slippage, 4 orders: −$1,059.23
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$1,173.36
Costs to cover: 10.812%
Break-even: never at this rate

Slippage from KuCoin: live order book, 45 min ago; Coinbase International: live order book, 61 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, 45 min ago	6.67 bp	567.9 bp −$568	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 61 min ago	7.38 bp	32.8 bp −$33	60.2 bp −$602	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-INTXshort	−0.0168%	1h	1,632.3	−0.066%	$236K	$149K	5x
QFEX OPENAI-USD	−0.0010%	1h	1,631.2	−0.129%	$1.2M	$387K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,710.5	+4.725%	$1.4M	$287K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,675.6	+2.591%	$771K	$211K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,662.4	+1.780%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,629.6	−0.227%	$52.8M	$39.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,633.6	+0.020%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,632.6	−0.044%	—	$2.6M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,630.2	−0.190%	$79K	$214K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,631.3	−0.122%	$1.6M	$558K	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	1,682.8	+3.031%	$2.6M	$6.3M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,631.2	−0.127%	$132K	$667K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,636.6	+0.204%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,631.6	−0.106%	$23.2M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,632	−0.083%	$13.1M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTMlong	+0.0050%	8h	1,633.3	long leg	$377K	$63K	20x
Variational Omni OPENAI	+0.0050%	8h	1,629.4	−0.239%	$2.6M	$751K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.1	−0.320%	$2K	$140K	10x	as long as short
BloFin OPENAI-USDT	+0.0054%	8h	1,631.3	−0.125%	$474K	$278K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,631.3	−0.122%	—	—	10x	as long as short
Entropy io:OAI	+0.0249%	1h	1,672.9	+2.423%	$7.4M	$2.2M	6x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0908%	1h	1,633	−0.022%	—	$3	5x	as long as short