Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.014%

Price spread now: Binance against Lighter−5.285%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$611as in the Price arb table

costs, in and out, $10k−$820.822% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 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 pays, the price is against you. Binance is 5.285% cheaper against Lighter than usual: you would sell low and buy high (spread −5.285% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$528 on $10k: about 14 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,714.9	0.0008	pay 0.0001% / 1h	23m 42s	$1.4M	$266K	5x
Short	Binance OPENAIUSDT	1,624.3	0.0050	get 0.0050% / 8h	4h 23m	$22.9M	$17.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now −5.285%Rate

Funding earned: $8.82
Price spread: −5.285% → 0.000%: −$528.5
Slippage, 4 orders: −$72.22
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$601.9
Costs to cover: 0.822%
Break-even: 484.7 days

Slippage from Lighter: live order book, 3 min ago; Binance: live order book, 2 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 Lighter live order book, 3 min ago	1.28 bp	27.9 bp −$28	448.0 bp −$4,480	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.11 bp	16.7 bp −$17	52.6 bp −$526	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	−5.248%	$226K	$161K	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,623.9	−5.310%	$1.2M	$545K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,664	−2.971%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652.6	−3.635%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,620.9	−5.483%	$52.4M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,625	−5.245%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.9	−5.250%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,624.1	−5.299%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,624.4	−5.280%	$79K	$219K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,623.9	−5.309%	$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 OPENAIlong	+0.0008%	1h	1,714.9	long leg	$1.4M	$266K	5x
Lighter RH OPENAI	+0.0032%	1h	1,682.1	−1.917%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0036%	8h	1,624.8	−5.254%	$474K	$284K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,623.9	−5.310%	$144K	$736K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,629.4	−4.990%	$212K	$3K	20x	as long as short
Binance OPENAIUSDTshort	+0.0050%	8h	1,624.3	−5.285%	$22.9M	$17.9M	20x
MEXC OPENAI_USDT	+0.0050%	8h	1,624.3	−5.287%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	−5.225%	$375K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,623.6	−5.323%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,625	−5.245%	$2K	$149K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,623.8	−5.317%	—	—	10x	as long as short
Entropy io:OAI	+0.0270%	1h	1,675.8	−2.282%	$7.7M	$2.3M	6x	as long as short