Funding you earn now, next payment 16:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.50 per $10,000 · paid last 24h +0.015%
Price spread now: Binance against Bybit−1.870%7-day average −2.824% · you buy dearer than you sell
Net, funding: paid 7d − costs−$204as in the Funding arb table
Net, price: spread back to 7d avg − costs−$120as in the Price arb table
costs, in and out, $10k−$2152.149% of the position
Funding, last 7 days+0.105%+$11 on $10k
+Price spread, last 4 days (all we have)−0.520%−$52 · spread now −1.870%, 7d avg −2.824%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 0.954% dearer against Bybit than usual: you sell high and buy low: +$95 more if the spread goes back to its 7-day average of −2.824%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit OPENAIUSDT | 1,677.4 | 0 | get 0.0000% / 8h | 4h 44m | $722K | $319K | 25x |
| Short | Binance OPENAIUSDT | 1,646 | 0.0050 | get 0.0050% / 8h | 4h 44m | $23.3M | $19.1M | 20x |
Bybit OPENAIUSDT
Binance OPENAIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $10.5
- Price spread: −1.870% → −2.824%
- $95.37
- Slippage, 4 orders
- −$193.91
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$109.04
- Costs to cover
- 2.149%
- Break-even
- 79.7 days
Slippage from Bybit: live order book, 58 min ago; Binance: live order book, 5 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 Bybit live order book, 58 min ago | 15.23 bp | 94.3 bp −$94 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 5 min ago | 1.60 bp | 15.1 bp −$15 | 62.2 bp −$622 | 234.6 bp −$23.5K | doesn't fit |
OPENAI on 22 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit OPENAI_USDC-PERPETUAL | −0.1057% | 1h | 1,644.8 | −1.941% | $3K | $3K | 5x | as long as short |
| QFEX OPENAI-USD | −0.0001% | 1h | 1,646 | −1.874% | $1.2M | $702K | 10x | as long as short |
| Bybit OPENAIUSDTlong | 0.0000% | 8h | 1,677.4 | long leg | $722K | $319K | 25x | |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,672.4 | −0.297% | $5.2M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,642.8 | −2.062% | $51.5M | $19.3M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,647.8 | −1.763% | $5.6M | $3.7M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,646.5 | −1.842% | — | $1.6M | 10x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,654 | −1.393% | $80K | $172K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,645.9 | −1.876% | $1.6M | $508K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0030% | 8h | 1,645.2 | −1.918% | $488K | $344K | 20x | as long as short |
Deribit OPENAI_USDC-PERPETUAL
QFEX OPENAI-USD
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
HTX OPENAI-USDT
Phemex OPENAIUSDT
BloFin OPENAI-USDTShow all 22 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAI | +0.0032% | 1h | 1,700.6 | +1.386% | $2.8M | $6.4M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,645.3 | −1.912% | $145K | $979K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,649.9 | −1.636% | $215K | $3K | 20x | as long as short |
| Binance OPENAIUSDTshort | +0.0050% | 8h | 1,646 | −1.870% | $23.3M | $19.1M | 20x | |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,647.4 | −1.790% | $6.6M | $2.5M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,652.2 | −1.502% | $388K | $320K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,644.2 | −1.981% | $2.6M | $777K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,653.5 | −1.422% | $2K | $175K | 10x | as long as short |
| Lighter OPENAI | +0.0064% | 1h | 1,735.2 | +3.448% | $1.5M | $273K | 5x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,645.6 | −1.894% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0529% | 1h | 1,697.4 | +1.193% | $7.9M | $2.6M | 6x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.1008% | 1h | 1,665.7 | −0.699% | $234K | $180K | 5x | as long as short |
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
Lighter OPENAI
Aevo OPENAI-PERP
Entropy io:OAI
Coinbase International OPENAI-PERP-INTX