Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: MEXC against Lighter−5.489%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$606as in the Price arb table

costs, in and out, $10k−$570.573% of the position

Long on Lighter Short on MEXC

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. MEXC is 5.489% cheaper against Lighter than usual: you would sell low and buy high (spread −5.489% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$549 on $10k: about 12 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,712.1	0	get 0.0000% / 1h	45m 13s	$1.4M	$264K	5x
Short	MEXC OPENAI_USDT	1,618.1	0.0050	get 0.0050% / 8h	1h 45m	$13.0M	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −5.489%Rate

Funding earned: $10.5
Price spread: −5.489% → 0.000%: −$548.87
Slippage, 4 orders: −$57.32
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$595.69
Costs to cover: 0.573%
Break-even: 404.1 days

Slippage from Lighter: live order book, 1 min ago; MEXC: 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 Lighter live order book, 1 min ago	1.84 bp	21.1 bp −$21	474.9 bp −$4,749	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.03 bp	2.6 bp −$3	23.7 bp −$237	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
QFEX OPENAI-USD	−0.0002%	1h	1,617.2	−5.539%	$1.2M	$607K	10x	as long as short
Lighter OPENAIlong	0.0000%	1h	1,712.1	long leg	$1.4M	$264K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,659.1	−3.094%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,645.7	−3.877%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,614.4	−5.705%	$52.3M	$18.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,619.5	−5.405%	$5.4M	$4.6M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,618.3	−5.477%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,617.5	−5.524%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,617.5	−5.527%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.3	−5.475%	$1.6M	$512K	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	+0.0029%	8h	1,617.8	−5.504%	$474K	$289K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,679.8	−1.888%	$2.7M	$6.0M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	−5.083%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,617.3	−5.536%	$144K	$901K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,620.7	−5.335%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,617.7	−5.510%	$22.8M	$16.9M	20x	as long as short
MEXC OPENAI_USDTshort	+0.0050%	8h	1,618.1	−5.489%	$13.0M	$3.1M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.5	−5.351%	$372K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,617.3	−5.533%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,618.8	−5.449%	$2K	$176K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,617.3	−5.534%	—	—	10x	as long as short
Entropy io:OAI	+0.0131%	1h	1,669.9	−2.463%	$7.7M	$2.3M	6x	as long as short