Funding arb · Price arb /

OPENAI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h —

Price spread now: Bybit against Aevo+2.589%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Bybit is 2.589% dearer against Aevo than usual: you sell high and buy low (spread +2.589% now, against zero (this spread has no 7-day history yet)): +$259 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo OPENAI-PERP	1,617.7	0.0104	pay 0.0013% / 1h	44m 16s	—	—	10x
Short	Bybit OPENAIUSDT	1,659.6	0	get 0.0000% / 8h	1h 44m	$753K	$205K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 AevobpFee BybitbpOrdersPrice spread, now +2.589%Rate

Funding earned: −$21.84
Price spread: +2.589% → 0.000%: $258.92
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $210.08
Costs to cover: 0.270%
Break-even: from the start

Slippage unknown: Aevo: no order-book sample; Bybit: live order book, 60 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 Aevo no order-book sample	—	—	—	—	—
Sell Bybit live order book, 60 min ago	15.35 bp	97.9 bp −$98	679.6 bp −$6,796	doesn't fit	doesn't fit

Aevo: 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	−0.0002%	1h	1,617.7	+0.001%	$1.2M	$607K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712	+5.833%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDTshort	0.0000%	8h	1,659.6	+2.589%	$753K	$205K	25x
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,645.7	+1.732%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,614.6	−0.194%	$52.3M	$18.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,620	+0.143%	$5.4M	$4.6M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,619.5	+0.112%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,617.8	+0.004%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,617.5	−0.015%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.3	+0.040%	$1.6M	$512K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPENAI-USDT	+0.0029%	8h	1,617.8	+0.010%	$474K	$289K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,679.6	+3.824%	$2.7M	$6.0M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	+0.455%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,617.6	−0.007%	$144K	$878K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,620.9	+0.200%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,617.9	+0.016%	$22.8M	$16.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,618	+0.022%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.5	+0.172%	$372K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,617.3	−0.022%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,618.8	+0.068%	$2K	$176K	10x	as long as short
Aevo OPENAI-PERPlong	+0.0104%	1h	1,617.7	long leg	—	—	10x
Entropy io:OAI	+0.0128%	1h	1,669.8	+3.222%	$7.7M	$2.3M	6x	as long as short