Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Lighter against Aster+5.595%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$549as in the Funding arb table

Net, price: spread back to 7d avg − costs+$20as in the Price arb table

costs, in and out, $10k−$5395.391% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 5.595% dearer against Aster than usual: you sell high and buy low (spread +5.595% now, against zero (this spread has no 7-day history yet)): +$560 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 12 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster OPENAIUSDT	1,621.1	0.0050	pay 0.0050% / 8h	1h 42m	$211K	$3K	20x
Short	Lighter OPENAI	1,711.8	0	get 0.0000% / 1h	42m 15s	$1.4M	$264K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +5.595%Rate

Funding earned: −$10.5
Price spread: +5.595% → 0.000%: $559.53
Slippage, 4 orders: −$531.14
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $9.88
Costs to cover: 5.391%
Break-even: from the start

Slippage from Aster: live order book, 64 min ago; Lighter: live order book, 4 min ago.

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 Aster live order book, 64 min ago	68.53 bp	370.2 bp −$370	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.84 bp	33.1 bp −$33	112.2 bp −$1,122	doesn't fit	doesn't fit

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	1,617.4	−0.232%	$1.2M	$607K	10x	as long as short
Lighter OPENAIshort	0.0000%	1h	1,711.8	+5.595%	$1.4M	$264K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,659.3	+2.358%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,648	+1.659%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,614.3	−0.420%	$52.3M	$18.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,619.1	−0.122%	$5.4M	$4.6M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,619.1	−0.124%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,617.9	−0.200%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,618.4	−0.167%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,617.4	−0.228%	$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	1,679.4	+3.598%	$2.7M	$6.0M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	+0.243%	$226K	$162K	5x	as long as short
BloFin OPENAI-USDT	+0.0041%	8h	1,617.6	−0.217%	$474K	$289K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,617.2	−0.244%	$144K	$837K	10x	as long as short
Aster OPENAIUSDTlong	+0.0050%	8h	1,621.1	long leg	$211K	$3K	20x
Binance OPENAIUSDT	+0.0050%	8h	1,617.5	−0.222%	$22.8M	$16.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,617.3	−0.233%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.5	−0.040%	$372K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,617.3	−0.232%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,618.8	−0.143%	$2K	$176K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,617.1	−0.248%	—	—	10x	as long as short
Entropy io:OAI	+0.0126%	1h	1,669.6	+2.992%	$7.7M	$2.3M	6x	as long as short