Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h +0.055%

Price spread now: Entropy against MEXC+2.919%49s7-day average +5.306% · you sell dearer than you buy

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

Long on MEXC Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.502%+$50 on $10k

Price spread, last 7 days+3.526%+$353 · spread now +2.919%, 7d avg +5.306%

Together, before fees+4.029%+$403 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 2.387% cheaper against MEXC than usual: you would sell low and buy high (spread +2.919% now, against its 7-day average of +5.306%). If the spread goes back, that is −$239 on $10k: about 4 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.502% in total) that is about 33 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPENAI_USDT	1,624.4	0.0050	pay 0.0050% / 8h	6h 40m	$13.1M	$3.2M	50x
Short	Entropy io:OAI	1,671.8	0.0115	get 0.0014% / 1h	40m 59s	$7.4M	$2.2M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against MEXC. 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 MEXCbpFee EntropybpOrdersPrice spread, now +2.919%Rate

Funding earned: $13.6
Price spread: +2.919% → +5.306%: −$238.7
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$243.1
Costs to cover: 0.180%
Break-even: 132.1 days

Slippage unknown: MEXC: live order book, 2 min ago; Entropy: live order book, 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 MEXC live order book, 2 min ago	0.40 bp	0.8 bp −$1	1.7 bp −$17	doesn't fit	doesn't fit
Sell Entropy live order book, 4 min ago	3.59 bp	31.0 bp −$31	40.3 bp −$403	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	−0.0004%	1h	1,624.3	−0.004%	$1.2M	$410K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,709.6	+5.243%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.6	+2.601%	$764K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,651.5	+1.669%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,620.7	−0.229%	$52.4M	$31.8M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,625.3	+0.055%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.7	+0.019%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,624.2	−0.015%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,624.7	+0.021%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,623.9	−0.031%	$1.6M	$562K	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	+0.0024%	1h	1,624.5	+0.004%	$222K	$155K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,677.2	+3.252%	$2.7M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,623.9	−0.032%	$136K	$717K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,629.6	+0.321%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,624.2	−0.012%	$23.0M	$18.9M	20x	as long as short
MEXC OPENAI_USDTlong	+0.0050%	8h	1,624.4	long leg	$13.1M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,626.1	+0.107%	$379K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,623.9	−0.027%	$2.6M	$761K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,626.4	+0.125%	$2K	$137K	10x	as long as short
BloFin OPENAI-USDT	+0.0059%	8h	1,629.3	+0.300%	$477K	$280K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,623	−0.089%	—	—	10x	as long as short
Entropy io:OAIshort	+0.0115%	1h	1,671.8	+2.919%	$7.4M	$2.2M	6x