Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.005%

Price spread now: Binance against Lighter RH−3.437%7-day average −5.686% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs+$179as in the Price arb table

costs, in and out, $10k−$450.455% of the position

Long on Lighter RH Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−3.379%−$338 · spread now −3.437%, 7d avg −5.686%

Together, before fees−3.341%+ Points / potential airdropLighter RH: Points live · farm board−$334 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 Binance is 2.249% dearer against Lighter RH than usual: you sell high and buy low: +$225 more if the spread goes back to its 7-day average of −5.686%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH OPENAI	1,681.3	0.0032	pay 0.0004% / 1h	18m 47s	$2.7M	$6.2M	5x
Short	Binance OPENAIUSDT	1,623.5	0.0050	get 0.0050% / 8h	4h 18m	$22.9M	$17.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −3.437%Rate

Funding earned: $3.78
Price spread: −3.437% → −5.686%: $224.86
Slippage, 4 orders: −$35.49
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: $183.15
Costs to cover: 0.455%
Break-even: from the start

Slippage from Lighter RH: live order book, 5 min ago; Binance: live order book, 7 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, 5 min ago	1.96 bp	8.6 bp −$9	53.1 bp −$531	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	1.11 bp	16.7 bp −$17	52.6 bp −$526	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
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,624.9	−3.353%	$226K	$161K	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,623.5	−3.439%	$1.2M	$548K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,664.1	−1.022%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,651.2	−1.791%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,620.5	−3.619%	$52.4M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,624.7	−3.366%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.6	−3.373%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,624.9	−3.355%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,625.1	−3.344%	$79K	$219K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,623.2	−3.454%	$1.6M	$546K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OPENAI	+0.0008%	1h	1,714.2	+1.957%	$1.4M	$266K	5x	as long as short
Lighter RH OPENAIlong	+0.0032%	1h	1,681.3	long leg	$2.7M	$6.2M	5x
Extended OPENAI-USD	+0.0048%	1h	1,623.2	−3.457%	$144K	$736K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,629.1	−3.105%	$212K	$3K	20x	as long as short
Binance OPENAIUSDTshort	+0.0050%	8h	1,623.5	−3.437%	$22.9M	$17.9M	20x
MEXC OPENAI_USDT	+0.0050%	8h	1,623.9	−3.418%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	−3.330%	$375K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,623.7	−3.429%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624.1	−3.403%	$2K	$149K	10x	as long as short
BloFin OPENAI-USDT	+0.0080%	8h	1,623.7	−3.426%	$474K	$284K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,623.4	−3.445%	—	—	10x	as long as short
Entropy io:OAI	+0.0254%	1h	1,675.7	−0.334%	$7.7M	$2.3M	6x	as long as short