Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.50 per $10,000 · paid last 24h −0.015%
Price spread now: Phemex against Variational Omni−0.093%56s7-day average +0.027% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.050%−$5 on $10k
+Price spread, last 3 days (all we have)+0.213%+$21 · spread now −0.093%, 7d avg +0.027%
=Together, before fees+0.163%+ Points / potential airdropVariational Omni: Active · farm board+$16 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.119% cheaper against Variational Omni than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.027%). Swap the legs. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni OPENAI | 1,623.5 | 0.0050 | pay 0.0050% / 8h | 6h 21m | $2.6M | $759K | — |
| Short | Phemex OPENAIUSDT | 1,622 | 0 | get 0.0000% / 8h | 6h 21m | $1.6M | $559K | 10x |
Variational Omni OPENAI
Phemex OPENAIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.5
- Price spread: −0.093% → +0.027%
- −$11.92
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$34.42
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Phemex: live order book, 2 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, 3 min ago | 3.88 bp | doesn't fit | 80.0 bp −$800 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 4.22 bp | 65.6 bp −$66 | 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-USD | −0.0004% | 1h | 1,621.9 | −0.099% | $1.2M | $420K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,703.3 | +4.911% | $1.4M | $280K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,666.2 | +2.630% | $764K | $205K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,651.7 | +1.736% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,618.3 | −0.323% | $52.3M | $31.9M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,623.5 | 0.000% | $5.5M | $5.1M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,624 | +0.029% | — | $2.5M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,623.1 | −0.024% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,622.5 | −0.065% | $79K | $216K | 20x | as long as short |
| Phemex OPENAIUSDTshort | 0.0000% | 8h | 1,622 | −0.093% | $1.6M | $559K | 10x |
QFEX OPENAI-USD
Lighter OPENAI
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDTShow 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 | +0.030% | $222K | $158K | 5x | as long as short |
| Lighter RH OPENAI | +0.0032% | 1h | 1,675 | +3.173% | $2.6M | $6.2M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,622.1 | −0.087% | $131K | $722K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,627.9 | +0.267% | $212K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,622.4 | −0.071% | $22.9M | $18.7M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,621.2 | −0.141% | $13.0M | $3.2M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,624.5 | +0.060% | $376K | $67K | 20x | as long as short |
| Variational Omni OPENAIlong | +0.0050% | 8h | 1,623.5 | long leg | $2.6M | $759K | — | |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,623 | −0.033% | $2K | $138K | 10x | as long as short |
| Entropy io:OAI | +0.0088% | 1h | 1,667.8 | +2.727% | $7.4M | $2.2M | 6x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,621.4 | −0.129% | — | — | 10x | as long as short |
Coinbase International OPENAI-PERP-INTX
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
GRVT OPENAI_USDT_Perp
Entropy io:OAI
Aevo OPENAI-PERP