OPENAI

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0048%/8h= +5.3% APRnext payment +$0.06 per $10,000 · paid last 24h +0.013%

Price spread now: Extended against Lighter−5.084%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$656as in the Price arb table

costs, in and out, $10k−$1471.474% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 5.084% cheaper against Lighter than usual: you would sell low and buy high (spread −5.084% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$508 on $10k: about 12 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	1,708.3	0	get 0.0000% / 1h	58m 35s	$1.4M	$268K	5x
Short	Extended OPENAI-USD	1,621.5	0.0048	get 0.0006% / 1h	58m 35s	$131K	$720K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −5.084%Rate

Funding earned: $10.08
Price spread: −5.084% → 0.000%: −$508.39
Slippage, 4 orders: −$142.37
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$645.68
Costs to cover: 1.474%
Break-even: 455.4 days

Slippage from Lighter: live order book, 3 min ago; Extended: live order book, 4 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	7.22 bp	29.6 bp −$30	614.2 bp −$6,142	doesn't fit	doesn't fit
Sell Extended live order book, 4 min ago	5.24 bp	37.5 bp −$37	268.8 bp −$2,688	doesn't fit	doesn't fit

OPENAI on 21 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	−0.0104%	1h	1,623.3	−4.979%	$224K	$158K	5x	as long as short
Lighter OPENAIlong	0.0000%	1h	1,708.3	long leg	$1.4M	$268K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,666.2	−2.464%	$764K	$203K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.5	−3.384%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.3	−5.210%	$52.4M	$28.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.8	−4.945%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.7	−4.953%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,622.5	−5.021%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.6	−5.018%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622	−5.052%	$1.6M	$549K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX OPENAI-USD	0.0000%	1h	1,622.1	−5.047%	$1.2M	$435K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,674.4	−1.987%	$2.7M	$6.1M	5x	as long as short
Extended OPENAI-USDshort	+0.0048%	1h	1,621.5	−5.084%	$131K	$720K	10x
Aster OPENAIUSDT	+0.0050%	8h	1,627.6	−4.727%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.1	−5.047%	$22.9M	$18.0M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.3	−5.036%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,621.9	−5.058%	$373K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.8	−5.005%	$2.6M	$762K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622	−5.055%	$2K	$138K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,621.4	−5.087%	—	—	10x	as long as short
Entropy io:OAI	+0.0118%	1h	1,668.4	−2.336%	$7.4M	$2.1M	6x	as long as short