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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 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%
Price spread now: Lighter against QFEX+5.042%7-day average +7.062% · 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−$404as in the Price arb table
costs, in and out, $10k−$2022.015% of the position
Long on QFEXShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.005%+$1 on $10k
Price spread, last 7 days+2.210%+$221 · spread now +5.042%, 7d avg +7.062%
Together, before fees+2.216%+ Points / potential airdropLighter: Season 3 · farm board+$222 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: Lighter is 2.020% cheaper against QFEX than usual: you would sell low and buy high, −$202 on $10k if it goes back to its 7-day average of +7.062%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX OPENAI-USD1,629.30.0000get 0.0000% / 1h28m 16s$1.2M$416K10x
ShortLighter OPENAI1,711.40get 0.0000% / 1h28m 16s$1.4M$283K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter 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

Funding earned
$0.08
Price spread: +5.042% → +7.062%
−$202.03
Slippage, 4 orders
−$191.54
Fee QFEX: 5 bp × 2 orders
−$10
Fee Lighter: 0 bp × 2 orders
$0
Net
−$403.49
Costs to cover
2.015%
Break-even
33630.9 days
Slippage from QFEX: live order book, 3 min ago; Lighter: live order book, 3 min ago.

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, 3 min ago3.22 bp9.8 bp −$1020.1 bp −$201doesn't fitdoesn't fit
Sell Lighter live order book, 3 min ago0.82 bp95.9 bp −$96139.7 bp −$1,397doesn'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%1h1,630.5+0.078%$229K$147K5xas long as short
QFEX OPENAI-USDlong0.0000%1h1,629.3long leg$1.2M$416K10x
Lighter OPENAIshort0.0000%1h1,711.4+5.042%$1.4M$283K5x
Bybit OPENAIUSDT0.0000%8h1,671.8+2.613%$769K$208K25xas long as short
OKX OPENAI-USDT-SWAP0.0000%8h1,660.3+1.905%$5.1M$1.3M20xas long as short
Gate OPENAI_USDT0.0000%8h1,626.6−0.161%$52.7M$39.2M50xas long as short
Bitget OPENAIUSDT0.0000%8h1,629.8+0.033%$5.5M$5.1M20xas long as short
SunX OPENAI-USDT0.0000%8h1,642.8+0.831%—$2.6M10xas long as short
Deribit OPENAI_USDC-PERPETUAL0.0000%1h1,628.2−0.065%—$35xas long as short
HTX OPENAI-USDT0.0000%8h1,630.2+0.058%$79K$214K20xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex OPENAIUSDT0.0000%8h1,629.6+0.019%$1.6M$560K10xas long as short
BloFin OPENAI-USDT+0.0026%8h1,629.2−0.002%$476K$279K20xas long as short
Lighter RH OPENAI+0.0032%1h1,683.4+3.325%$2.7M$6.3M5xas long as short
Extended OPENAI-USD+0.0048%1h1,628.9−0.020%$133K$931K10xas long as short
Aster OPENAIUSDT+0.0050%8h1,635.9+0.409%$213K$3K20xas long as short
Binance OPENAIUSDT+0.0050%8h1,629.3+0.002%$23.1M$18.9M20xas long as short
MEXC OPENAI_USDT+0.0050%8h1,629.4+0.007%$13.1M$3.2M50xas long as short
KuCoin OPENAIUSDTM+0.0050%8h1,637.1+0.481%$379K$65K20xas long as short
Variational Omni OPENAI+0.0050%8h1,628.8−0.028%$2.6M$753K—as long as short
GRVT OPENAI_USDT_Perp+0.0050%8h1,627.7−0.096%$2K$138K10xas long as short
Aevo OPENAI-PERP+0.0104%1h1,629.2−0.005%——10xas long as short
Entropy io:OAI+0.0106%1h1,674.8+2.795%$7.4M$2.2M6xas long as short