Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h −0.226%

Price spread now: Binance against Coinbase International−0.288%7-day average −0.410% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$770.767% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.707%−$71 on $10k

Price spread, last 4 days (all we have)−0.879%−$88 · spread now −0.288%, 7d avg −0.410%

Together, before fees−1.586%−$159 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: Binance is 0.122% dearer against Coinbase International than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.410%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OPENAI-PERP-INTX	1,623.9	0.0056	pay 0.0007% / 1h	17m 10s	$226K	$161K	5x
Short	Binance OPENAIUSDT	1,619.2	0.0050	get 0.0050% / 8h	3h 17m	$22.8M	$17.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.288%Rate

Funding earned: −$1.26
Price spread: −0.288% → −0.410%: $12.21
Slippage, 4 orders: −$56.67
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$65.72
Costs to cover: 0.767%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 36 min ago; Binance: live order book, 9 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 Coinbase International live order book, 36 min ago	5.73 bp	30.8 bp −$31	55.8 bp −$558	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.86 bp	14.1 bp −$14	56.4 bp −$564	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	−0.0001%	1h	1,619.3	−0.281%	$1.2M	$575K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,709.9	+5.293%	$1.4M	$265K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,662.1	+2.353%	$754K	$206K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.3	+1.626%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,616.3	−0.467%	$52.3M	$25.4M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,620.9	−0.185%	$5.5M	$4.9M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,621.3	−0.159%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,619.6	−0.265%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,620	−0.238%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.2	−0.353%	$1.6M	$534K	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	1,677.6	+3.308%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,618.8	−0.314%	$142K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,622.7	−0.076%	$211K	$3K	20x	as long as short
Binance OPENAIUSDTshort	+0.0050%	8h	1,619.2	−0.288%	$22.8M	$17.6M	20x
MEXC OPENAI_USDT	+0.0050%	8h	1,619.2	−0.292%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,623.1	−0.049%	$375K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,620.4	−0.213%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,620.6	−0.205%	$2K	$160K	10x	as long as short
Coinbase International OPENAI-PERP-INTXlong	+0.0056%	1h	1,623.9	long leg	$226K	$161K	5x
BloFin OPENAI-USDT	+0.0063%	8h	1,618.9	−0.305%	$473K	$286K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,618.9	−0.304%	—	—	10x	as long as short
Entropy io:OAI	+0.0107%	1h	1,670.1	+2.846%	$7.6M	$2.3M	6x	as long as short