Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h −0.005%

Price spread now: Lighter RH against Variational Omni+3.217%7-day average +5.814% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 7 days+3.580%+$358 · spread now +3.217%, 7d avg +5.814%

Together, before fees+3.567%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board+$357 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter RH is 2.597% cheaper against Variational Omni than usual: you would sell low and buy high (−$260 if the spread goes back to its 7-day average of +5.814%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni OPENAI	1,631.2	0.0050	pay 0.0050% / 8h	7h 54m	$2.6M	$751K	—
Short	Lighter RH OPENAI	1,683.7	0.0032	get 0.0004% / 1h	54m 16s	$2.7M	$6.2M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Variational Omni. 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 Variational OmnibpFee Lighter RHbpOrdersPrice spread, now +3.217%Rate

Funding earned: −$3.78
Price spread: +3.217% → +5.814%: −$259.68
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$263.46
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Lighter RH: live order book, 4 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 Variational Omni RFQ quote, 5 min ago	3.19 bp	doesn't fit	112.7 bp −$1,127	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	0.68 bp	5.0 bp −$5	92.2 bp −$922	582.5 bp −$58.2K	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
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,633.7	+0.151%	$235K	$150K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,631.5	+0.017%	$1.2M	$387K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.1	+4.960%	$1.4M	$282K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,674.2	+2.636%	$771K	$209K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,660.7	+1.807%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,627.8	−0.207%	$52.7M	$39.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,631.6	+0.024%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,631.6	+0.023%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,631.6	+0.024%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,631.8	+0.037%	$79K	$214K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,630	−0.074%	$1.6M	$560K	10x	as long as short
Lighter RH OPENAIshort	+0.0032%	1h	1,683.7	+3.217%	$2.7M	$6.2M	5x
BloFin OPENAI-USDT	+0.0041%	8h	1,632.8	+0.098%	$474K	$278K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,631.5	+0.014%	$132K	$662K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,637.1	+0.362%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,632	+0.045%	$23.2M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,630.9	−0.021%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,638.4	+0.437%	$377K	$65K	20x	as long as short
Variational Omni OPENAIlong	+0.0050%	8h	1,631.2	long leg	$2.6M	$751K	—
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,633.5	+0.138%	$2K	$139K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,631.6	+0.021%	—	—	10x	as long as short
Entropy io:OAI	+0.0157%	1h	1,677.1	+2.812%	$7.4M	$2.2M	6x	as long as short