OPENAI

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.1080%/8h= +118.3% APRnext payment +$1.35 per $10,000 · paid last 24h +0.264%

Price spread now: Coinbase International against Lighter−3.800%7-day average −6.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$288as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$3633.632% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.754%+$75 on $10k

Price spread, last 3 days (all we have)−3.065%−$307 · spread now −3.800%, 7d avg −6.054%

Together, before fees−2.311%+ Points / potential airdropLighter: Season 3 · farm board−$231 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Coinbase International is 2.253% dearer against Lighter than usual: you sell high and buy low: +$225 more if the spread goes back to its 7-day average of −6.054%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.754% in total (about 39.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.35 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,697.7	0	get 0.0000% / 1h	3m 28s	$1.4M	$315K	5x
Short	Coinbase International OPENAI-PERP-INTX	1,633.2	0.1080	get 0.0135% / 1h	3m 28s	$237K	$106K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −3.800%Rate

Funding earned: $226.8
Price spread: −3.800% → −6.054%: $225.32
Slippage, 4 orders: −$353.24
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $88.88
Costs to cover: 3.632%
Break-even: 4.3 days

Slippage from Lighter: live order book, 3 min ago; Coinbase International: live order book, 19 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	59.29 bp	178.3 bp −$178	982.0 bp −$9,820	doesn't fit	doesn't fit
Sell Coinbase International live order book, 19 min ago	25.21 bp	39.0 bp −$39	60.4 bp −$604	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
Lighter OPENAIlong	0.0000%	1h	1,697.7	long leg	$1.4M	$315K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,674.1	−1.393%	$761K	$225K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,662.3	−2.086%	$5.1M	$1.4M	20x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,629	−4.045%	$1.2M	$361K	10x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,626.3	−4.204%	$52.9M	$48.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,630.7	−3.946%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,629.5	−4.018%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,629.2	−4.037%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,629.6	−4.012%	$79K	$212K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,627.4	−4.143%	$1.6M	$584K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPENAI-USDT	+0.0024%	8h	1,628.9	−4.054%	$473K	$295K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,664.6	−1.949%	$2.6M	$6.3M	5x	as long as short
Entropy io:OAI	+0.0047%	1h	1,662.2	−2.092%	$7.3M	$2.2M	6x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,628.9	−4.055%	$133K	$656K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,632.7	−3.831%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,629.4	−4.023%	$23.2M	$21.2M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,629.5	−4.016%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,640.2	−3.385%	$375K	$65K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,627.8	−4.120%	$2.6M	$755K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.6	−4.068%	$2K	$153K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,629.6	−4.013%	—	—	10x	as long as short
Coinbase International OPENAI-PERP-INTXshort	+0.1080%	1h	1,633.2	−3.800%	$237K	$106K	5x