Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.005%

Price spread now: MEXC against Lighter RH−3.105%7-day average −5.747% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs+$250as in the Price arb table

costs, in and out, $10k−$140.142% of the position

Long on Lighter RH Short on MEXC

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−3.734%−$373 · spread now −3.105%, 7d avg −5.747%

Together, before fees−3.697%+ Points / potential airdropLighter RH: Points live · farm board−$370 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 MEXC is 2.642% dearer against Lighter RH than usual: you sell high and buy low: +$264 more if the spread goes back to its 7-day average of −5.747%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH OPENAI	1,674.9	0.0032	pay 0.0004% / 1h	17m 09s	$2.6M	$6.2M	5x
Short	MEXC OPENAI_USDT	1,622.9	0.0050	get 0.0050% / 8h	6h 17m	$13.1M	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −3.105%Rate

Funding earned: $3.78
Price spread: −3.105% → −5.747%: $264.21
Slippage, 4 orders: −$14.18
Fee Lighter RH: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: $253.8
Costs to cover: 0.142%
Break-even: from the start

Slippage from Lighter RH: live order book, 1 min ago; MEXC: live order book, 1 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, 1 min ago	1.19 bp	7.1 bp −$7	46.3 bp −$463	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.99 bp	1.8 bp −$2	16.2 bp −$162	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	1,622.2	−3.145%	$1.2M	$424K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,703.3	+1.693%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.2	−0.518%	$764K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,654.1	−1.241%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.6	−3.301%	$52.4M	$31.9M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,624.7	−2.999%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624	−3.038%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,623.2	−3.087%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.2	−3.088%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.6	−3.120%	$1.6M	$557K	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	−3.038%	$222K	$158K	5x	as long as short
Lighter RH OPENAIlong	+0.0032%	1h	1,674.9	long leg	$2.6M	$6.2M	5x
Extended OPENAI-USD	+0.0048%	1h	1,621.9	−3.165%	$131K	$722K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,628.4	−2.777%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.7	−3.116%	$22.9M	$18.6M	20x	as long as short
MEXC OPENAI_USDTshort	+0.0050%	8h	1,622.9	−3.105%	$13.1M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.3	−3.018%	$376K	$67K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,621.1	−3.214%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.4	−3.132%	$2K	$139K	10x	as long as short
Entropy io:OAI	+0.0095%	1h	1,667.9	−0.417%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.3	−3.142%	—	—	10x	as long as short