Funding arb · Price arb /

OPENAI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0047%/8h= +5.2% APRnext payment +$0.06 per $10,000 · paid last 24h —

Price spread now: Entropy against Aevo+2.842%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 Entropy

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Entropy is 2.842% dearer against Aevo than usual: you sell high and buy low: +$284 more if the spread 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	Aevo OPENAI-PERP	1,621	0.0104	pay 0.0013% / 1h	1m 16s	—	—	10x
Short	Entropy io:OAI	1,667.1	0.0151	get 0.0019% / 1h	1m 16s	$7.4M	$2.1M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against Aevo. 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 AevobpFee EntropybpOrdersPrice spread, now +2.842%Rate

Funding earned: $9.94
Price spread: +2.842% → 0.000%: $284.2
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Entropy: 9 bp × 2 orders: −$18
Net: $260.13
Costs to cover: 0.340%
Break-even: from the start

Slippage unknown: Aevo: no order-book sample; Entropy: live order book, 6 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 Entropy live order book, 6 min ago	1.80 bp	19.1 bp −$19	19.7 bp −$197	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
Coinbase International OPENAI-PERP-INTX	−0.0104%	1h	1,627	+0.366%	$225K	$158K	5x	as long as short
Lighter OPENAI	0.0000%	1h	1,707.2	+5.313%	$1.4M	$269K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,662.1	+2.534%	$758K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,649.5	+1.756%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,618.5	−0.156%	$52.3M	$28.8M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.2	+0.131%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.1	+0.128%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.8	+0.044%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.3	+0.078%	$79K	$217K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.1	+0.002%	$1.6M	$544K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX OPENAI-USD	0.0000%	1h	1,621.4	+0.022%	$1.2M	$491K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,674.3	+3.283%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0033%	8h	1,621.6	+0.032%	$475K	$277K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,620.9	−0.008%	$141K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,626.7	+0.352%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,621.5	+0.028%	$22.9M	$17.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,621.6	+0.033%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.6	+0.218%	$374K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.5	+0.091%	$2.6M	$760K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,623.5	+0.149%	$2K	$144K	10x	as long as short
Aevo OPENAI-PERPlong	+0.0104%	1h	1,621	long leg	—	—	10x
Entropy io:OAIshort	+0.0151%	1h	1,667.1	+2.842%	$7.4M	$2.1M	6x