Funding arb · Price arb /

OPENAI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h —

Price spread now: Deribit against SunX−0.064%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 19 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.064% cheaper against SunX than usual: you would sell low and buy high, −$6 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX OPENAI-USDT	1,617.9	0	get 0.0000% / 8h	2h 13m	—	$2.4M	10x
Short	Deribit OPENAI_USDC-PERPETUAL	1,616.9	0	get 0.0000% / 1h	13m 29s	—	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0
Price spread: −0.064% → 0.000%: −$6.43
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$21.43
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 3 min ago; Deribit: no order-book sample. 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, 3 min ago	500.42 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0005%	1h	1,616.7	−0.074%	$1.2M	$603K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.2	+5.582%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,658	+2.477%	$752K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,644.9	+1.669%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,613.7	−0.262%	$52.3M	$19.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,618.8	+0.057%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDTlong	0.0000%	8h	1,617.9	long leg	—	$2.4M	10x
Deribit OPENAI_USDC-PERPETUALshort	0.0000%	1h	1,616.9	−0.064%	—	$3	5x
HTX OPENAI-USDT	0.0000%	8h	1,617.1	−0.050%	$79K	$225K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,617	−0.054%	$1.6M	$521K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0016%	1h	1,620.9	+0.187%	$226K	$161K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,675.4	+3.553%	$2.6M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0035%	8h	1,617.1	−0.050%	$472K	$289K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,616.4	−0.091%	$141K	$896K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,620.9	+0.183%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,616.9	−0.064%	$22.8M	$17.3M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,617	−0.055%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,617.4	−0.031%	$372K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,616.2	−0.103%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,616.1	−0.110%	$2K	$170K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,616.5	−0.088%	—	—	10x	as long as short
Entropy io:OAI	+0.0126%	1h	1,665.3	+2.930%	$7.6M	$2.3M	6x	as long as short