Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Variational Omni against Lighter RH−3.113%7-day average −5.814% · you buy dearer than you sell

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

Long on Lighter RH Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 7 days−3.684%−$368 · spread now −3.113%, 7d avg −5.814%

Together, before fees−3.671%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board−$367 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 Variational Omni is 2.701% dearer against Lighter RH than usual: you sell high and buy low: +$270 more if the spread goes back to its 7-day average of −5.814%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH OPENAI	1,681.8	0.0032	pay 0.0004% / 1h	20m 35s	$2.6M	$6.3M	5x
Short	Variational Omni OPENAI	1,629.4	0.0050	get 0.0050% / 8h	20m 35s	$2.6M	$751K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter RH. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −3.113%Rate

Funding earned: $3.78
Price spread: −3.113% → −5.814%: $270.06
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $273.84
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter RH: live order book, 3 min ago; Variational Omni: RFQ quote, 4 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 RH live order book, 3 min ago	1.25 bp	8.1 bp −$8	49.1 bp −$491	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.81 bp	doesn't fit	89.6 bp −$896	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	−0.0168%	1h	1,628.7	−3.156%	$236K	$147K	5x	as long as short
QFEX OPENAI-USD	−0.0010%	1h	1,629.3	−3.121%	$1.2M	$387K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,709.2	+1.633%	$1.4M	$287K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,674.9	−0.408%	$771K	$216K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,660.8	−1.247%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,626.9	−3.265%	$52.7M	$39.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,630.9	−3.022%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,630.3	−3.060%	—	$2.6M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,629.3	−3.121%	$79K	$213K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,628.7	−3.153%	$1.6M	$558K	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	1,681.8	long leg	$2.6M	$6.3M	5x
BloFin OPENAI-USDT	+0.0044%	8h	1,628.4	−3.174%	$473K	$278K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,629	−3.138%	$131K	$667K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,633.9	−2.845%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,629.3	−3.121%	$23.2M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,629.5	−3.106%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,630.8	−3.031%	$376K	$63K	20x	as long as short
Variational Omni OPENAIshort	+0.0050%	8h	1,629.4	−3.113%	$2.6M	$751K	—
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,627.7	−3.218%	$2K	$140K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,628.3	−3.180%	—	—	10x	as long as short
Entropy io:OAI	+0.0252%	1h	1,672.1	−0.575%	$7.4M	$2.2M	6x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0351%	1h	1,630.1	−3.075%	—	$3	5x	as long as short