Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0079%/8h= +8.7% APRpaid last 24h +0.055%

Price spread now: Entropy against BloFin+2.842%7-day average +4.431% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.496%+$50 on $10k

Price spread, last 3 days (all we have)+2.620%+$262 · spread now +2.842%, 7d avg +4.431%

Together, before fees+3.116%+$312 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 1.588% cheaper against BloFin than usual: you would sell low and buy high (spread +2.842% now, against its 7-day average of +4.431%). If the spread goes back, that is −$159 on $10k: about 2 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.496% in total) that is about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin OPENAI-USDT	1,629	0.0039	pay 0.0039% / 8h	7h 21m	$474K	$280K	20x
Short	Entropy io:OAI	1,675.3	0.0118	get 0.0015% / 1h	21m 56s	$7.4M	$2.2M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee EntropybpOrdersPrice spread, now +2.842%Rate

Funding earned: $16.6
Price spread: +2.842% → +4.431%: −$158.84
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$172.24
Costs to cover: 0.300%
Break-even: 79.6 days

Slippage unknown: BloFin: live order book, 49 min ago; Entropy: live order book, 5 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 BloFin live order book, 49 min ago	0.21 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 5 min ago	1.19 bp	18.7 bp −$19	doesn't fit	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	−0.0024%	1h	1,628.2	−0.048%	$228K	$147K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,628.6	−0.028%	$1.2M	$418K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,711.1	+5.037%	$1.4M	$283K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,671.9	+2.635%	$769K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,657.4	+1.743%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,625.7	−0.200%	$52.6M	$39.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,629.1	+0.008%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,629.3	+0.018%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,629.2	+0.014%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,629.5	+0.029%	$79K	$214K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,628.5	−0.031%	$1.6M	$561K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,683.1	+3.320%	$2.7M	$6.3M	5x	as long as short
BloFin OPENAI-USDTlong	+0.0039%	8h	1,629	long leg	$474K	$280K	20x
Extended OPENAI-USD	+0.0048%	1h	1,628.6	−0.022%	$133K	$790K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,635.6	+0.402%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,629	0.000%	$23.1M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,629	+0.002%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,637.1	+0.497%	$379K	$65K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,630.1	+0.065%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.4	−0.039%	$2K	$138K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,628.7	−0.020%	—	—	10x	as long as short
Entropy io:OAIshort	+0.0118%	1h	1,675.3	+2.842%	$7.4M	$2.2M	6x