Settings8H · net · $10k
My profile
Funding arb · Price arb / RWA

OPENAI

RWAAll OPENAI markets →
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
PhemexOPENAIUSDT
1,334.400.0000% / 8h16m 18s$1.5M$550K10xLong Phemex
SHORT
QFEXOPENAI-USD
1,332.9+0.0072get 0.0009% / 1h16m 18s$2.3M$7.7M10xShort QFEX37% off
Price gap−0.114%
Funding gap+0.0072% /8h

Funding pays +$2 a day on $10k, but the gap is 0.255% under its 7d average: −$25 if it goes back, about 12 days of funding. At the last 7 days' pace that is about 4.0 days.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$45+0.0072% /8h now · paid +0.449% over the last 7D
Price−$25spread −0.114% now, avg +0.141% → −0.255% if it goes back
Costs−$1421.416% of $10k · taker + slippage, in and out
Result−$122−1.22%no points

Price and funding

1h · history
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.114%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

OPENAI on 26 exchanges

lowest funding first

Before you open

0 ok · 4 to watch
  • Watch: Thin at this size54.9 / 15.9 bp
    At $10k entering Phemex costs 54.9 bp, fee and slippage, 3.5× QFEX’s.
  • Note: Margin at max leverage$1,000 + $1,000
    Phemex 10x, QFEX 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • Watch: Payment intervals differ8h / 1h
    Payments land at different times. Close right after the slower leg pays.
    Next 24h at the current rates, on $10k a leg: +$2.15Long Phemex: 3 payments, $0.00; short QFEX: 24 payments, +$2.15.
  • Watch: Gap narrower than usual−0.114% vs +0.141%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Note: Long leg is thinner$1.5M vs $2.3M OI
    Both legs are deep; Phemex is the smaller one.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCPhemex Yes · QFEX No
    KYC unlocks spot and futures trading; an unverified account cannot withdraw at all.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0214%/8h × 21 periods+$44.85
Price spread−0.114% → +0.141% (7d avg)−$25.49
Slippage, 4 orderslive order books−$109.57
Fee Phemex bp × 2 orders−$12.00
Fee QFEX bp × 2 orders−$20.00
Net · 7 days · $10k−$122.21
Costs to cover1.416%Break-even26.1 days
Slippage: Phemex: live order book, 5 min ago; QFEX: live order book, 13 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGPhemex4.6554.9 bp−$55doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTQFEX2.4115.9 bp−$16doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

OPENAI news

posts that mention OPENAI or OpenAI, from every exchange
11-07 05:41KalshiOtherJUST IN: OpenAI CFO says election results did not change their plans for data center spending @Kalshi on X ↗
11-06 21:58KalshiOtherBREAKING: OpenAI raises $11,000,000,000 at $1,250,000,000,000 valuation @Kalshi on X ↗
11-05 10:40KalshiOtherJUST IN: OpenAI to cover full power costs of future data centers @Kalshi on X ↗
11-05 10:00Ondo PerpsContestDetails: 1. Giveaway ends 12 Nov, 10AM UTC. 2. The reference price for OPENAI perps to determine the winners will be taken from the one minute candle open at 12 Nov, 10AM UTC. 3. Winners will receive a DM from @OndoPerps requesting Account IDs. 4. Prizes will be credited to winners’ Ondo Perps accounts in USDC by 20 Nov, 10AM UTC. @OndoPerps on X ↗
11-05 10:00Ondo PerpsContestCHALLENGE: Predict & win up to 200 USDC. We’re giving out up to 200 USDC to 5 winners who can accurately predict the price of pre-IPO OPENAI perps. To participate: 1. Follow @OndoPerps 2. Like and repost this post 3. Drop a comment with your price prediction for the OPENAI Pre-IPO perps on Ondo Perps on November 12 at 10AM UTC. The closest call wins 200 USDC. The next two closest will win 100 USDC each, and the two closest after that will win 50 USDC each. Trade OPENAI perps now ↓ @OndoPerps on X ↗
11-04 19:06Ondo PerpsOtherOpen interest is in the spotlight. Due to popular demand, this week’s trading activity pool will reward open interest across all perps on the platform. In addition, we have increased the size of each of the three weekly rewards pools: ▸ Liquidity Pool: 112.5K USDC Weekly Earn by providing resting liquidity within 25 bps of the mid price on eligible markets. 85% of the pool goes to liquidity from mid to 5 bps, 10% to 6–10 bps, and 5% to 11–25 bps. ▸ Volume Pool: 112.5K USDC Weekly Earn by trading any perps market, as a maker or taker. ▸ Trading Activity (Open Interest): 25K USDC Weekly Earn by holding open positions. For those who have already traded OpenAI exposure on spot or OPENAI perps, there will be an additional pro rata bonus for OpenAI spot and perp trading activity up until Nov. 4 at 19:00 UTC. Rewards this week run from Tuesday, 3 Nov, 00:00 UTC to Monday, 9 Nov, 23:59 UTC. See this week’s eligible markets for the liquidity pool below ↓ @OndoPerps on X ↗