Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Lighter against MEXC+4.790%7-day average +7.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$206as in the Funding arb table

Net, price: spread back to 7d avg − costs−$421as in the Price arb table

costs, in and out, $10k−$1961.955% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 7 days+2.480%+$248 · spread now +4.790%, 7d avg +7.048%

Together, before fees+2.377%+ Points / potential airdropLighter: Season 3 · farm board+$238 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 2.259% cheaper against MEXC than usual: you would sell low and buy high (−$226 if the spread goes back to its 7-day average of +7.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPENAI_USDT	1,631.8	0.0050	pay 0.0050% / 8h	18m 16s	$13.1M	$3.1M	50x
Short	Lighter OPENAI	1,709.9	0	get 0.0000% / 1h	18m 16s	$1.4M	$287K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +4.790%Rate

Funding earned: −$10.5
Price spread: +4.790% → +7.048%: −$225.85
Slippage, 4 orders: −$195.51
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$431.86
Costs to cover: 1.955%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Lighter: live order book, 3 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 MEXC live order book, 5 min ago	0.80 bp	1.9 bp −$2	14.7 bp −$147	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.31 bp	98.8 bp −$99	133.9 bp −$1,339	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	1,630.2	−0.097%	$235K	$149K	5x	as long as short
QFEX OPENAI-USD	−0.0010%	1h	1,629.9	−0.114%	$1.2M	$387K	10x	as long as short
Lighter OPENAIshort	0.0000%	1h	1,709.9	+4.790%	$1.4M	$287K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,676.3	+2.727%	$772K	$211K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,661.6	+1.829%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,628.8	−0.184%	$52.7M	$39.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,633.3	+0.094%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,632.1	+0.021%	—	$2.6M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,630.2	−0.095%	$79K	$214K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,631.9	+0.006%	$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
BloFin OPENAI-USDT	+0.0032%	8h	1,629.4	−0.145%	$473K	$277K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,682.5	+3.109%	$2.6M	$6.3M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,630.2	−0.096%	$131K	$667K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,635.4	+0.223%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,630.5	−0.075%	$23.2M	$18.8M	20x	as long as short
MEXC OPENAI_USDTlong	+0.0050%	8h	1,631.8	long leg	$13.1M	$3.1M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,631.9	+0.006%	$376K	$63K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,629.4	−0.144%	$2.6M	$751K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,627.7	−0.252%	$2K	$140K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,630.3	−0.090%	—	—	10x	as long as short
Entropy io:OAI	+0.0250%	1h	1,672.6	+2.503%	$7.4M	$2.2M	6x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.1172%	1h	1,633.1	+0.079%	—	$3	5x	as long as short