Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against OKX+0.538%7-day average +0.947% · you sell dearer than you buy

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs−$198as in the Price arb table

costs, in and out, $10k−$1571.568% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.142%+$14 · spread now +0.538%, 7d avg +0.947%

Together, before fees+0.142%+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.409% cheaper against OKX than usual: you would sell low and buy high, −$41 on $10k if it goes back to its 7-day average of +0.947%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX OPENAI-USDT-SWAP	1,653.2	0	get 0.0000% / 8h	4h 40m	$5.1M	$1.3M	20x
Short	Bybit OPENAIUSDT	1,662.1	0	get 0.0000% / 8h	4h 40m	$758K	$205K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now +0.538%Rate

Funding earned: $0
Price spread: +0.538% → +0.947%: −$40.91
Slippage, 4 orders: −$135.85
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$197.76
Costs to cover: 1.568%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bybit: live order book, 14 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 OKX live order book, 2 min ago	0.30 bp	22.1 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 14 min ago	11.36 bp	69.1 bp −$69	436.0 bp −$4,360	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	−0.0024%	1h	1,625.7	−1.661%	$226K	$160K	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,623.4	−1.800%	$1.2M	$536K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,710.6	+3.473%	$1.4M	$265K	5x	as long as short
Bybit OPENAIUSDTshort	0.0000%	8h	1,662.1	+0.538%	$758K	$205K	25x
OKX OPENAI-USDT-SWAPlong	0.0000%	8h	1,653.2	long leg	$5.1M	$1.3M	20x
Gate OPENAI_USDT	0.0000%	8h	1,621	−1.945%	$52.4M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,626.1	−1.638%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.1	−1.760%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,622.5	−1.855%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,625.3	−1.689%	$79K	$218K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,623.8	−1.781%	$1.6M	$545K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,678.1	+1.504%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,623.4	−1.805%	$144K	$736K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,629.4	−1.440%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,623.7	−1.782%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,624.4	−1.740%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.1	−1.700%	$376K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,624	−1.766%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,620.8	−1.963%	$3K	$146K	10x	as long as short
BloFin OPENAI-USDT	+0.0054%	8h	1,622.4	−1.861%	$474K	$281K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,623.2	−1.812%	—	—	10x	as long as short
Entropy io:OAI	+0.0178%	1h	1,668.5	+0.925%	$7.6M	$2.3M	6x	as long as short