Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.50 per $10,000 · paid last 24h −0.015%
Price spread now: Phemex against KuCoin−0.123%7-day average −0.079% · you buy dearer than you sell
Net, funding: paid 7d − costs−$1,163as in the Funding arb table
Net, price: spread back to 7d avg − costs−$1,157as in the Price arb table
costs, in and out, $10k−$1,15311.529% of the position
Funding, last 7 days−0.105%−$11 on $10k
+Price spread, last 3 days (all we have)+0.034%+$3 · spread now −0.123%, 7d avg −0.079%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.044% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.079%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin OPENAIUSDTM | 1,634.1 | 0.0050 | pay 0.0050% / 8h | 15m 12s | $377K | $63K | 20x |
| Short | Phemex OPENAIUSDT | 1,632 | 0 | get 0.0000% / 8h | 15m 12s | $1.6M | $558K | 10x |
KuCoin OPENAIUSDTM
Phemex OPENAIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.5
- Price spread: −0.123% → −0.079%
- −$4.42
- Slippage, 4 orders
- −$1,128.88
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$1,167.8
- Costs to cover
- 11.529%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 47 min ago; Phemex: live order book, 3 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, 47 min ago | 6.67 bp | 567.9 bp −$568 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 3.25 bp | 69.1 bp −$69 | 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 | −0.110% | $236K | $149K | 5x | as long as short |
| QFEX OPENAI-USD | −0.0010% | 1h | 1,632.2 | −0.115% | $1.2M | $387K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,711.1 | +4.717% | $1.4M | $287K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,675.4 | +2.532% | $771K | $210K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,661.6 | +1.686% | $5.1M | $1.4M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,629.4 | −0.283% | $52.7M | $39.6M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,633.7 | −0.019% | $5.5M | $5.1M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,633.2 | −0.052% | — | $2.6M | 10x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,632.3 | −0.110% | $79K | $214K | 20x | as long as short |
| Phemex OPENAIUSDTshort | 0.0000% | 8h | 1,632 | −0.123% | $1.6M | $558K | 10x |
Coinbase International OPENAI-PERP-INTX
QFEX OPENAI-USD
Lighter OPENAI
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
HTX OPENAI-USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAI | +0.0032% | 1h | 1,683.3 | +3.012% | $2.6M | $6.3M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,631.8 | −0.135% | $132K | $667K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,637.2 | +0.196% | $213K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,632.1 | −0.117% | $23.2M | $18.8M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,632 | −0.124% | $13.0M | $3.2M | 50x | as long as short |
| KuCoin OPENAIUSDTMlong | +0.0050% | 8h | 1,634.1 | long leg | $377K | $63K | 20x | |
| Variational Omni OPENAI | +0.0050% | 8h | 1,631.7 | −0.145% | $2.6M | $751K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,628.9 | −0.314% | $2K | $140K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0075% | 8h | 1,632.7 | −0.086% | $474K | $279K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,631.9 | −0.131% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0249% | 1h | 1,673.4 | +2.408% | $7.4M | $2.2M | 6x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | +0.1030% | 1h | 1,633.7 | −0.023% | — | $3 | 5x | as long as short |
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
BloFin OPENAI-USDT
Aevo OPENAI-PERP
Entropy io:OAI
Deribit OPENAI_USDC-PERPETUAL