Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0104%/8h= −11.4% APRnext payment −$0.13 per $10,000 · paid last 24h —

Price spread now: Lighter against Aevo+5.875%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 Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 5.875% dearer against Aevo than usual: you sell high and buy low (spread +5.875% now, against zero (this spread has no 7-day history yet)): +$587 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo OPENAI-PERP	1,617.6	0.0104	pay 0.0013% / 1h	38m 46s	—	—	10x
Short	Lighter OPENAI	1,712.7	0	get 0.0000% / 1h	38m 46s	$1.4M	$264K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +5.875%Rate

Funding earned: −$21.84
Price spread: +5.875% → 0.000%: $587.45
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Lighter: 0 bp × 2 orders: $0
Net: $549.61
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Aevo: no order-book sample; Lighter: 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 Aevo no order-book sample	—	—	—	—	—
Sell Lighter live order book, 2 min ago	0.82 bp	25.7 bp −$26	111.2 bp −$1,112	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	1,617.9	+0.016%	$1.2M	$607K	10x	as long as short
Lighter OPENAIshort	0.0000%	1h	1,712.7	+5.875%	$1.4M	$264K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,659.4	+2.584%	$753K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,649.6	+1.976%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,615.7	−0.118%	$52.3M	$18.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,619.9	+0.141%	$5.4M	$4.6M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,619	+0.085%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,618.2	+0.037%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,619.3	+0.106%	$79K	$227K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.1	+0.029%	$1.6M	$511K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAI	+0.0032%	1h	1,680	+3.852%	$2.7M	$6.0M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	+0.458%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,617.5	−0.007%	$144K	$724K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,621.5	+0.241%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,617.9	+0.019%	$22.8M	$16.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,618.4	+0.048%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.3	+0.163%	$372K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,617.7	+0.006%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,617.4	−0.013%	$2K	$176K	10x	as long as short
BloFin OPENAI-USDT	+0.0064%	8h	1,618.5	+0.053%	$475K	$289K	20x	as long as short
Aevo OPENAI-PERPlong	+0.0104%	1h	1,617.6	long leg	—	—	10x
Entropy io:OAI	+0.0133%	1h	1,669.6	+3.213%	$7.7M	$2.3M	6x	as long as short