Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Bitget+2.544%7-day average +2.919% · you sell dearer than you buy

Net, funding: paid 7d − costs−$208as in the Funding arb table

Net, price: spread back to 7d avg − costs−$246as in the Price arb table

costs, in and out, $10k−$2082.083% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.189%+$19 · spread now +2.544%, 7d avg +2.919%

Together, before fees+0.189%+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.375% cheaper against Bitget than usual: you would sell low and buy high, −$38 on $10k if it goes back to its 7-day average of +2.919%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPENAIUSDT	1,618.1	0	get 0.0000% / 8h	1h 47m	$5.4M	$4.6M	20x
Short	Bybit OPENAIUSDT	1,659.2	0	get 0.0000% / 8h	1h 47m	$753K	$205K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now +2.544%Rate

Funding earned: $0
Price spread: +2.544% → +2.919%: −$37.53
Slippage, 4 orders: −$185.27
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$245.8
Costs to cover: 2.083%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Bybit: live order book, 58 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 Bitget live order book, 1 min ago	0.99 bp	32.9 bp −$33	36.7 bp −$367	doesn't fit	doesn't fit
Sell Bybit live order book, 58 min ago	15.35 bp	97.9 bp −$98	679.6 bp −$6,796	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	1,617.1	−0.059%	$1.2M	$608K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.2	+5.816%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDTshort	0.0000%	8h	1,659.2	+2.544%	$753K	$205K	25x
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,645.6	+1.703%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,613.5	−0.279%	$52.2M	$18.0M	50x	as long as short
Bitget OPENAIUSDTlong	0.0000%	8h	1,618.1	long leg	$5.4M	$4.6M	20x
SunX OPENAI-USDT	0.0000%	8h	1,618.4	+0.022%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,617.3	−0.048%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,617.5	−0.037%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,616.9	−0.072%	$1.6M	$513K	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	1,679.5	+3.795%	$2.7M	$6.0M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	+0.432%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,617	−0.062%	$141K	$895K	10x	as long as short
BloFin OPENAI-USDT	+0.0049%	8h	1,616.9	−0.070%	$473K	$288K	20x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,620.2	+0.135%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,617.4	−0.040%	$22.8M	$17.0M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,616.9	−0.072%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.5	+0.149%	$372K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,618	−0.001%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,619.3	+0.076%	$2K	$176K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,616.6	−0.087%	—	—	10x	as long as short
Entropy io:OAI	+0.0143%	1h	1,670.3	+3.229%	$7.7M	$2.3M	6x	as long as short