Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: QFEX against Bitget−0.120%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$970.968% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days+0.133%+$13 · spread now −0.120%, 7d avg +0.024%

Together, before fees+0.129%+$13 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: QFEX is 0.144% cheaper against Bitget than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget OPENAIUSDT	1,624.6	0	get 0.0000% / 8h	5h 27m	$5.5M	$5.1M	20x
Short	QFEX OPENAI-USD	1,622.6	0.0000	get 0.0000% / 1h	27m 05s	$1.2M	$474K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.120%Rate

Funding earned: $0.05
Price spread: −0.120% → +0.024%: −$14.36
Slippage, 4 orders: −$74.78
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$111.09
Costs to cover: 0.968%
Break-even: 15436.2 days

Slippage from Bitget: live order book, 1 min ago; QFEX: 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 Bitget live order book, 1 min ago	1.60 bp	26.4 bp −$26	30.2 bp −$302	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	3.54 bp	11.1 bp −$11	20.4 bp −$204	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
Coinbase International OPENAI-PERP-INTX	−0.0104%	1h	1,622.5	−0.127%	$225K	$159K	5x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.5	+5.169%	$1.4M	$269K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,664.4	+2.455%	$761K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,651.2	+1.640%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.4	−0.319%	$52.4M	$28.7M	50x	as long as short
Bitget OPENAIUSDTlong	0.0000%	8h	1,624.6	long leg	$5.5M	$5.1M	20x
SunX OPENAI-USDT	0.0000%	8h	1,623.5	−0.065%	—	$2.4M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.4	−0.068%	$78K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.8	−0.105%	$1.6M	$543K	10x	as long as short
QFEX OPENAI-USDshort	0.0000%	1h	1,622.6	−0.120%	$1.2M	$474K	10x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPENAI-USDT	+0.0029%	8h	1,622.9	−0.103%	$476K	$276K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,675.4	+3.130%	$2.7M	$6.2M	5x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0047%	1h	1,624.8	+0.017%	—	$3	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622.2	−0.143%	$135K	$722K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,628.8	+0.261%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.7	−0.116%	$22.9M	$17.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.7	−0.114%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624	−0.033%	$374K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,624	−0.036%	$2.6M	$754K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.3	−0.139%	$2K	$140K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.2	−0.145%	—	—	10x	as long as short
Entropy io:OAI	+0.0144%	1h	1,667.1	+2.619%	$7.4M	$2.1M	6x	as long as short