Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: Variational Omni against Lighter−4.791%7-day average −7.054% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.049%+$5 on $10k

Price spread, last 7 days−2.478%−$248 · spread now −4.791%, 7d avg −7.054%

Together, before fees−2.429%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$243 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Variational Omni is 2.263% dearer against Lighter than usual: you sell high and buy low: +$226 more if the spread goes back to its 7-day average of −7.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,702.6	0	get 0.0000% / 1h	20m 56s	$1.4M	$280K	5x
Short	Variational Omni OPENAI	1,621.1	0.0050	get 0.0050% / 8h	6h 20m	$2.6M	$759K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −4.791%Rate

Funding earned: $10.5
Price spread: −4.791% → −7.054%: $226.27
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $236.77
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 5 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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, 5 min ago	13.66 bp	157.6 bp −$158	953.4 bp −$9,534	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	3.88 bp	doesn't fit	33.6 bp −$336	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
QFEX OPENAI-USD	−0.0004%	1h	1,621.9	−4.741%	$1.2M	$420K	10x	as long as short
Lighter OPENAIlong	0.0000%	1h	1,702.6	long leg	$1.4M	$280K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,666.2	−2.138%	$764K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,651.7	−2.991%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,618.4	−4.946%	$52.3M	$31.9M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.5	−4.646%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.9	−4.624%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.8	−4.748%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.5	−4.708%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.1	−4.787%	$1.6M	$558K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0024%	1h	1,624	−4.618%	$222K	$158K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,675	−1.626%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,621.3	−4.776%	$131K	$722K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.2	−4.427%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,621.7	−4.752%	$22.9M	$18.7M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,621.1	−4.790%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.5	−4.589%	$376K	$67K	20x	as long as short
Variational Omni OPENAIshort	+0.0050%	8h	1,621.1	−4.791%	$2.6M	$759K	—
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,623	−4.678%	$2K	$138K	10x	as long as short
Entropy io:OAI	+0.0088%	1h	1,667.8	−2.046%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,621.4	−4.769%	—	—	10x	as long as short