Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.005%

Price spread now: Aster against Lighter RH−3.276%7-day average −4.567% · you buy dearer than you sell

Net, funding: paid 7d − costs−$444as in the Funding arb table

Net, price: spread back to 7d avg − costs−$319as in the Price arb table

costs, in and out, $10k−$4484.481% of the position

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)−2.357%−$236 · spread now −3.276%, 7d avg −4.567%

Together, before fees−2.320%+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm board−$232 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aster is 1.291% dearer against Lighter RH than usual: you sell high and buy low: +$129 more if the spread goes back to its 7-day average of −4.567%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH OPENAI	1,674.3	0.0032	pay 0.0004% / 1h	50m 58s	$2.6M	$6.1M	5x
Short	Aster OPENAIUSDT	1,619.4	0.0050	get 0.0050% / 8h	2h 50m	$211K	$3K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now −3.276%Rate

Funding earned: $3.78
Price spread: −3.276% → −4.567%: $129.1
Slippage, 4 orders: −$440.07
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$315.19
Costs to cover: 4.481%
Break-even: 590.7 days

Slippage from Lighter RH: live order book, 2 min ago; Aster: live order book, 61 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 RH live order book, 2 min ago	1.61 bp	5.9 bp −$6	50.8 bp −$508	doesn't fit	doesn't fit
Sell Aster live order book, 61 min ago	47.41 bp	94.3 bp −$94	doesn't fit	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	−0.0005%	1h	1,615.9	−3.485%	$1.2M	$596K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,706.9	+1.949%	$1.4M	$260K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,658.5	−0.941%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,647.1	−1.622%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,612.1	−3.714%	$52.2M	$19.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,616.9	−3.426%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,617.5	−3.390%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,615.4	−3.516%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,616.1	−3.474%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,615.5	−3.511%	$1.6M	$530K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0016%	1h	1,617.9	−3.369%	$225K	$161K	5x	as long as short
Lighter RH OPENAIlong	+0.0032%	1h	1,674.3	long leg	$2.6M	$6.1M	5x
Extended OPENAI-USD	+0.0048%	1h	1,615.5	−3.508%	$142K	$895K	10x	as long as short
Aster OPENAIUSDTshort	+0.0050%	8h	1,619.4	−3.276%	$211K	$3K	20x
Binance OPENAIUSDT	+0.0050%	8h	1,616	−3.482%	$22.8M	$17.4M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,615	−3.541%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,619.8	−3.255%	$373K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,615.2	−3.529%	$2.6M	$764K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,614.6	−3.565%	$2K	$163K	10x	as long as short
BloFin OPENAI-USDT	+0.0063%	8h	1,615.7	−3.501%	$474K	$286K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,615.6	−3.506%	—	—	10x	as long as short
Entropy io:OAI	+0.0145%	1h	1,666.3	−0.475%	$7.6M	$2.3M	6x	as long as short