Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.241%

Price spread now: Coinbase International against SunX−0.091%7-day average +0.470% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.812%+$81 on $10k

Price spread, last 4 days (all we have)+1.260%+$126 · spread now −0.091%, 7d avg +0.470%

Together, before fees+2.072%+$207 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.561% cheaper against SunX than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of +0.470%). If the spread goes back, that is −$56 on $10k: about 33 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.812% in total) that is about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX OPENAI-USDT	1,623.5	0	get 0.0000% / 8h	3h 50m	—	$2.4M	10x
Short	Coinbase International OPENAI-PERP-INTX	1,622	0.0056	get 0.0007% / 1h	50m 05s	$226K	$162K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.091%Rate

Funding earned: $11.76
Price spread: −0.091% → +0.470%: −$56.08
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$62.32
Costs to cover: 0.180%
Break-even: 44.1 days

Slippage unknown: SunX: live order book, 7 min ago; Coinbase International: live order book, 3 min ago. Net counts fees only.

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 SunX live order book, 7 min ago	500.45 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	5.73 bp	19.0 bp −$19	40.7 bp −$407	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-USD	−0.0001%	1h	1,620.7	−0.176%	$1.2M	$559K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712	+5.453%	$1.4M	$265K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,663.3	+2.448%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.7	+1.675%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,617.4	−0.377%	$52.3M	$25.3M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.1	−0.023%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDTlong	0.0000%	8h	1,623.5	long leg	—	$2.4M	10x
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.5	−0.123%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.3	−0.074%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,620.8	−0.165%	$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	1,679.6	+3.458%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0046%	8h	1,621.3	−0.138%	$473K	$286K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,620.4	−0.193%	$141K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.3	+0.235%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,620.8	−0.167%	$22.8M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,620.6	−0.179%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	+0.113%	$375K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,620.4	−0.191%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,621.5	−0.125%	$2K	$155K	10x	as long as short
Coinbase International OPENAI-PERP-INTXshort	+0.0056%	1h	1,622	−0.091%	$226K	$162K	5x
Aevo OPENAI-PERP	+0.0104%	1h	1,620.6	−0.180%	—	—	10x	as long as short
Entropy io:OAI	+0.0161%	1h	1,674.1	+3.117%	$7.7M	$2.3M	6x	as long as short