Funding arb · Price arb /

OPENAI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h —

Price spread now: MEXC against Aevo+0.039%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 MEXC

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. MEXC is 0.039% dearer against Aevo than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo OPENAI-PERP	1,622	0.0104	pay 0.0013% / 1h	35m 21s	—	—	10x
Short	MEXC OPENAI_USDT	1,622.7	0.0050	get 0.0050% / 8h	6h 35m	$13.1M	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$11.34
Price spread: +0.039% → 0.000%: $3.86
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee MEXC: 0 bp × 2 orders: $0
Net: −$23.48
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago	0.95 bp	1.6 bp −$2	6.0 bp −$60	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
Deribit OPENAI_USDC-PERPETUAL	−0.0115%	1h	1,621.9	−0.008%	—	$3	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,622.4	+0.024%	$1.2M	$412K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.5	+5.329%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.7	+2.752%	$764K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.3	+1.743%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.5	−0.157%	$52.4M	$31.8M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.7	+0.105%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623	+0.060%	—	$2.5M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.2	+0.007%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.3	+0.015%	$1.6M	$562K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0024%	1h	1,624.5	+0.149%	$222K	$155K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,676	+3.325%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622	−0.003%	$136K	$717K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.4	+0.332%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.7	+0.044%	$22.9M	$18.9M	20x	as long as short
MEXC OPENAI_USDTshort	+0.0050%	8h	1,622.7	+0.039%	$13.1M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,626.2	+0.254%	$377K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622	0.000%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624	+0.120%	$2K	$137K	10x	as long as short
BloFin OPENAI-USDT	+0.0059%	8h	1,629.3	+0.446%	$477K	$280K	20x	as long as short
Entropy io:OAI	+0.0077%	1h	1,669.5	+2.926%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERPlong	+0.0104%	1h	1,622	long leg	—	—	10x