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Funding arb · Price arb /

OPENAI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0157%/8h= +17.2% APRnext payment +$0.20 per $10,000 · paid last 24h +0.072%
Price spread now: Entropy against QFEX+2.794%7-day average +5.380% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on QFEXShort on Entropy
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.256%+$26 on $10k
Price spread, last 7 days+3.623%+$362 · spread now +2.794%, 7d avg +5.380%
Together, before fees+3.879%+$388 on $10k · with fees, hour by hour
Funding pays, the price is against you. Entropy is 2.586% cheaper against QFEX than usual: you would sell low and buy high (spread +2.794% now, against its 7-day average of +5.380%). If the spread goes back, that is −$259 on $10k: about 55 days of funding at the current rate (+$5 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX OPENAI-USD1,631.50.0000get 0.0000% / 1h54m 09s$1.2M$387K10x
ShortEntropy io:OAI1,677.10.0157get 0.0020% / 1h54m 09s$7.4M$2.2M6x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Entropy against QFEX. 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

Funding earned
$33.05
Price spread: +2.794% → +5.380%
−$258.59
Slippage, 4 orders
no order book: not counted
Fee QFEX: 5 bp × 2 orders
−$10
Fee Entropy: 9 bp × 2 orders
−$18
Net
−$253.55
Costs to cover
0.280%
Break-even
60.7 days
Slippage unknown: QFEX: live order book, 7 min ago; Entropy: live order book, 1 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy QFEX live order book, 7 min ago1.80 bp9.3 bp −$918.7 bp −$187doesn't fitdoesn't fit
Sell Entropy live order book, 1 min ago1.79 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

OPENAI on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International OPENAI-PERP-INTX−0.0024%1h1,633.7+0.133%$235K$150K5xas long as short
QFEX OPENAI-USDlong0.0000%1h1,631.5long leg$1.2M$387K10x
Lighter OPENAI0.0000%1h1,712.1+4.942%$1.4M$282K5xas long as short
Bybit OPENAIUSDT0.0000%8h1,674.1+2.607%$771K$209K25xas long as short
OKX OPENAI-USDT-SWAP0.0000%8h1,660.7+1.789%$5.1M$1.4M20xas long as short
Gate OPENAI_USDT0.0000%8h1,627.8−0.230%$52.7M$39.1M50xas long as short
Bitget OPENAIUSDT0.0000%8h1,631.5−0.002%$5.5M$5.1M20xas long as short
SunX OPENAI-USDT0.0000%8h1,631.6+0.006%—$2.6M10xas long as short
Deribit OPENAI_USDC-PERPETUAL0.0000%1h1,631.6+0.006%—$35xas long as short
HTX OPENAI-USDT0.0000%8h1,631.8+0.020%$79K$214K20xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex OPENAIUSDT0.0000%8h1,630−0.092%$1.6M$560K10xas long as short
Lighter RH OPENAI+0.0032%1h1,683.7+3.199%$2.7M$6.2M5xas long as short
BloFin OPENAI-USDT+0.0041%8h1,632.8+0.081%$474K$278K20xas long as short
Extended OPENAI-USD+0.0048%1h1,631.5−0.004%$132K$662K10xas long as short
Aster OPENAIUSDT+0.0050%8h1,637.1+0.344%$213K$3K20xas long as short
Binance OPENAIUSDT+0.0050%8h1,630.8−0.043%$23.2M$18.9M20xas long as short
MEXC OPENAI_USDT+0.0050%8h1,630.6−0.058%$13.1M$3.2M50xas long as short
KuCoin OPENAIUSDTM+0.0050%8h1,638.4+0.419%$377K$65K20xas long as short
Variational Omni OPENAI+0.0050%8h1,631.2−0.017%$2.6M$751K—as long as short
GRVT OPENAI_USDT_Perp+0.0050%8h1,633.5+0.120%$2K$139K10xas long as short
Aevo OPENAI-PERP+0.0104%1h1,631.6+0.003%——10xas long as short
Entropy io:OAIshort+0.0157%1h1,677.1+2.794%$7.4M$2.2M6x