Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0456%/8h= +49.9% APRpaid last 24h +0.272%

Price spread now: Coinbase International against OKX−1.858%7-day average −1.560% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1351.351% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.759%+$76 on $10k

Price spread, last 3 days (all we have)+0.987%+$99 · spread now −1.858%, 7d avg −1.560%

Together, before fees+1.747%+$175 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.298% cheaper against OKX than usual: you would sell low and buy high (spread −1.858% now, against its 7-day average of −1.560%). If the spread goes back, that is −$30 on $10k: about 2.2 days of funding at the current rate (+$14 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX OPENAI-USDT-SWAP	1,651.3	0	get 0.0000% / 8h	1h 13m	$5.1M	$1.4M	20x
Short	Coinbase International OPENAI-PERP-INTX	1,620.6	0.0456	get 0.0057% / 1h	13m 30s	$236K	$143K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −1.858%Rate

Funding earned: $95.76
Price spread: −1.858% → −1.560%: −$29.79
Slippage, 4 orders: −$115.11
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$69.14
Costs to cover: 1.351%
Break-even: 12.1 days

Slippage from OKX: live order book, 4 min ago; Coinbase International: live order book, 4 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, 4 min ago	1.82 bp	44.2 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	7.38 bp	32.8 bp −$33	60.2 bp −$602	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	−0.0005%	1h	1,619.7	−1.915%	$1.2M	$387K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,696.9	+2.760%	$1.4M	$291K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,667.6	+0.990%	$763K	$227K	25x	as long as short
OKX OPENAI-USDT-SWAPlong	0.0000%	8h	1,651.3	long leg	$5.1M	$1.4M	20x
Gate OPENAI_USDT	0.0000%	8h	1,616.7	−2.094%	$52.6M	$40.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,621.6	−1.797%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,621.3	−1.817%	—	$2.6M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,619.4	−1.934%	$78K	$213K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,619.1	−1.951%	$1.6M	$573K	10x	as long as short
BloFin OPENAI-USDT	+0.0024%	8h	1,618.9	−1.960%	$470K	$287K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAI	+0.0032%	1h	1,669.2	+1.085%	$2.6M	$6.3M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,619	−1.953%	$131K	$669K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,626.2	−1.523%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,619.7	−1.915%	$23.0M	$19.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,619.7	−1.915%	$12.9M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,636.1	−0.919%	$377K	$64K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,618.6	−1.980%	$2.6M	$765K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,619.5	−1.927%	$2K	$148K	10x	as long as short
Entropy io:OAI	+0.0092%	1h	1,661.1	+0.593%	$7.3M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,619.2	−1.947%	—	—	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0234%	1h	1,623	−1.714%	—	$3	5x	as long as short
Coinbase International OPENAI-PERP-INTXshort	+0.0456%	1h	1,620.6	−1.858%	$236K	$143K	5x