Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0199%/8h= +21.8% APRpaid last 24h +0.057%

Price spread now: Entropy against KuCoin+2.423%7-day average +4.476% · you sell dearer than you buy

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

Long on KuCoin Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.506%+$51 on $10k

Price spread, last 4 days (all we have)+3.174%+$317 · spread now +2.423%, 7d avg +4.476%

Together, before fees+3.680%+$368 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 2.053% cheaper against KuCoin than usual: you would sell low and buy high (spread +2.423% now, against its 7-day average of +4.476%). If the spread goes back, that is −$205 on $10k: about 34 days of funding at the current rate (+$6 a day).

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 07s	$377K	$63K	20x
Short	Entropy io:OAI	1,672.9	0.0249	get 0.0031% / 1h	17m 07s	$7.4M	$2.2M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 EntropybpOrdersPrice spread, now +2.423%Rate

Funding earned: $41.89
Price spread: +2.423% → +4.476%: −$205.27
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$193.38
Costs to cover: 0.300%
Break-even: 39.3 days

Slippage unknown: KuCoin: live order book, 45 min ago; Entropy: live order book, 10 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 KuCoin live order book, 45 min ago	6.67 bp	567.9 bp −$568	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 10 min ago	3.59 bp	doesn't fit	doesn't fit	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	−0.0168%	1h	1,632.3	−0.066%	$236K	$149K	5x	as long as short
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:OAIshort	+0.0249%	1h	1,672.9	+2.423%	$7.4M	$2.2M	6x
Deribit OPENAI_USDC-PERPETUAL	+0.0908%	1h	1,633	−0.022%	—	$3	5x	as long as short