Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.005%

Price spread now: KuCoin against Lighter RH−3.507%7-day average −4.620% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3,484as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,377as in the Price arb table

costs, in and out, $10k−$3,48834.880% of the position

Long on Lighter RH Short on KuCoin

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)−2.171%−$217 · spread now −3.507%, 7d avg −4.620%

Together, before fees−2.133%+ Points / potential airdropLighter RH: Points live · farm board−$213 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 KuCoin is 1.113% dearer against Lighter RH than usual: you sell high and buy low: +$111 more if the spread goes back to its 7-day average of −4.620%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH OPENAI	1,679.4	0.0032	pay 0.0004% / 1h	52m 47s	$2.7M	$6.0M	5x
Short	KuCoin OPENAIUSDTM	1,620.5	0.0050	get 0.0050% / 8h	1h 52m	$372K	$71K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −3.507%Rate

Funding earned: $3.78
Price spread: −3.507% → −4.620%: $111.31
Slippage, 4 orders: −$3,476.04
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$3,372.95
Costs to cover: 34.880%
Break-even: 6253.2 days

Slippage from Lighter RH: live order book, 6 min ago; KuCoin: live order book, 65 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, 6 min ago	0.74 bp	5.7 bp −$6	54.9 bp −$549	doesn't fit	doesn't fit
Sell KuCoin live order book, 65 min ago	8.00 bp	2878.3 bp −$2,878	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	−0.0002%	1h	1,618.4	−3.632%	$1.2M	$611K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.7	+1.982%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,660.6	−1.118%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,647.2	−1.917%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,615.9	−3.781%	$52.3M	$18.0M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,619.8	−3.548%	$5.4M	$4.7M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,619.4	−3.572%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,619.3	−3.577%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,619.7	−3.554%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.8	−3.609%	$1.6M	$516K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAIlong	+0.0032%	1h	1,679.4	long leg	$2.7M	$6.0M	5x
BloFin OPENAI-USDT	+0.0036%	8h	1,618.2	−3.644%	$472K	$289K	20x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	−3.236%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,618.6	−3.623%	$141K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,621.9	−3.424%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,619	−3.597%	$22.8M	$17.4M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,619.1	−3.588%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTMshort	+0.0050%	8h	1,620.5	−3.507%	$372K	$71K	20x
Variational Omni OPENAI	+0.0050%	8h	1,619	−3.596%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,619.2	−3.585%	$2K	$174K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,618.3	−3.638%	—	—	10x	as long as short
Entropy io:OAI	+0.0139%	1h	1,670.2	−0.547%	$7.7M	$2.3M	6x	as long as short