Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h +0.256%

Price spread now: Coinbase International against Bitget−0.008%47s7-day average +0.482% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$890.894% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.769%+$77 on $10k

Price spread, last 3 days (all we have)+1.173%+$117 · spread now −0.008%, 7d avg +0.482%

Together, before fees+1.942%+$194 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.490% cheaper against Bitget than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.482%). If the spread goes back, that is −$49 on $10k: about 2 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.769% in total) that is about 4.5 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPENAIUSDT	1,624.1	0	get 0.0000% / 8h	6h 18m	$5.5M	$5.1M	20x
Short	Coinbase International OPENAI-PERP-INTX	1,624	0.0024	get 0.0003% / 1h	18m 30s	$222K	$158K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.008%Rate

Funding earned: $5.04
Price spread: −0.008% → +0.482%: −$49.03
Slippage, 4 orders: −$67.42
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$133.41
Costs to cover: 0.894%
Break-even: 192.3 days

Slippage from Bitget: live order book, 5 min ago; Coinbase International: live order book, 49 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, 5 min ago	2.22 bp	28.4 bp −$28	38.2 bp −$382	doesn't fit	doesn't fit
Sell Coinbase International live order book, 49 min ago	5.96 bp	13.0 bp −$13	49.1 bp −$491	doesn't fit	doesn't fit

OPENAI on 21 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	−0.0004%	1h	1,621.4	−0.167%	$1.2M	$422K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,700.8	+4.720%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.2	+2.591%	$764K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,654.6	+1.875%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.3	−0.296%	$52.4M	$31.9M	50x	as long as short
Bitget OPENAIUSDTlong	0.0000%	8h	1,624.1	long leg	$5.5M	$5.1M	20x
SunX OPENAI-USDT	0.0000%	8h	1,623.2	−0.058%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.9	−0.139%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,621.9	−0.140%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.2	−0.180%	$1.6M	$557K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTXshort	+0.0024%	1h	1,624	−0.008%	$222K	$158K	5x
Lighter RH OPENAI	+0.0032%	1h	1,674.7	+3.113%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,621	−0.194%	$131K	$722K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.5	+0.208%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,621.4	−0.166%	$22.9M	$18.6M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.2	−0.117%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.5	+0.022%	$376K	$67K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,621.1	−0.190%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,623	−0.071%	$2K	$138K	10x	as long as short
Entropy io:OAI	+0.0093%	1h	1,667.9	+2.694%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,621	−0.192%	—	—	10x	as long as short