Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.016%

Price spread now: KuCoin against QFEX+0.131%7-day average +0.072% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$1,087as in the Price arb table

costs, in and out, $10k−$1,09310.931% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.059%+$6 on $10k

Price spread, last 4 days (all we have)−0.245%−$24 · spread now +0.131%, 7d avg +0.072%

Together, before fees−0.186%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.058% dearer against QFEX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX OPENAI-USD	1,622.2	−0.0004	get 0.0001% / 1h	16m 59s	$1.2M	$424K	10x
Short	KuCoin OPENAIUSDTM	1,624.3	0.0050	get 0.0050% / 8h	6h 16m	$375K	$67K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.131%Rate

Funding earned: $11.37
Price spread: +0.131% → +0.072%: $5.83
Slippage, 4 orders: −$1,071.06
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,075.86
Costs to cover: 10.931%
Break-even: 669.1 days

Slippage from QFEX: live order book, 4 min ago; KuCoin: live order book, 20 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	1.42 bp	7.5 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 20 min ago	13.85 bp	442.7 bp −$443	doesn't fit	doesn't fit	doesn't fit

OPENAI on 21 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	−0.0004%	1h	1,622.2	long leg	$1.2M	$424K	10x
Lighter OPENAI	0.0000%	1h	1,703.3	+4.995%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.5	+2.727%	$764K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,654.1	+1.965%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.6	−0.163%	$52.4M	$31.9M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,624.7	+0.152%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624	+0.110%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,623.2	+0.059%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.2	+0.059%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.6	+0.026%	$1.6M	$557K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0024%	1h	1,624	+0.110%	$222K	$158K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,674.9	+3.247%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622.3	+0.005%	$131K	$722K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,628.4	+0.381%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.7	+0.031%	$22.9M	$18.6M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,623.1	+0.055%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTMshort	+0.0050%	8h	1,624.3	+0.131%	$375K	$67K	20x
Variational Omni OPENAI	+0.0050%	8h	1,621.1	−0.072%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.4	+0.013%	$2K	$139K	10x	as long as short
Entropy io:OAI	+0.0095%	1h	1,667.9	+2.816%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.3	+0.003%	—	—	10x	as long as short