Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.001%

Price spread now: Gate against QFEX−0.181%7-day average −0.126% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 7 days−0.005%−$1 · spread now −0.181%, 7d avg −0.126%

Together, before fees−0.001%$0 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: Gate is 0.055% cheaper against QFEX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX OPENAI-USD	1,621.4	−0.0001	get 0.0000% / 1h	52m 42s	$1.2M	$557K	10x
Short	Gate OPENAI_USDT	1,618.5	0	get 0.0000% / 8h	3h 52m	$52.4M	$25.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against QFEX. 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 QFEXbpFee GatebpOrdersPrice spread, now −0.181%Rate

Funding earned: $0.27
Price spread: −0.181% → −0.126%: −$5.51
Slippage, 4 orders: −$16.27
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$46.52
Costs to cover: 0.413%
Break-even: 1218.4 days

Slippage from QFEX: live order book, 4 min ago; Gate: live order book, 1 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 QFEX live order book, 4 min ago	2.07 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.38 bp	11.4 bp −$11	335.5 bp −$3,355	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-USDlong	−0.0001%	1h	1,621.4	long leg	$1.2M	$557K	10x
Lighter OPENAI	0.0000%	1h	1,712.2	+5.603%	$1.4M	$265K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,663.5	+2.595%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,651.4	+1.851%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDTshort	0.0000%	8h	1,618.5	−0.181%	$52.4M	$25.3M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,623.4	+0.125%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.1	+0.105%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,622.8	+0.087%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.3	+0.056%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.7	+0.022%	$1.6M	$543K	10x	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	1,680.2	+3.625%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,620.9	−0.028%	$141K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.7	+0.390%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,621.4	0.000%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,621.6	+0.014%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	+0.243%	$375K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,620.9	−0.032%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,621.9	+0.029%	$2K	$153K	10x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0056%	1h	1,622.7	+0.083%	$226K	$161K	5x	as long as short
BloFin OPENAI-USDT	+0.0065%	8h	1,622.3	+0.055%	$473K	$286K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,621.6	+0.010%	—	—	10x	as long as short
Entropy io:OAI	+0.0163%	1h	1,674.2	+3.257%	$7.7M	$2.3M	6x	as long as short