Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0456%/8h= −49.9% APRpaid last 24h −0.272%

Price spread now: Bitget against Coinbase International−0.123%7-day average −0.500% · you buy dearer than you sell

Net, funding: paid 7d − costs−$242as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1661.664% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.759%−$76 on $10k

Price spread, last 3 days (all we have)−1.089%−$109 · spread now −0.123%, 7d avg −0.500%

Together, before fees−1.848%−$185 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.378% dearer against Coinbase International than usual: you sell high and buy low (spread −0.123% now, against its 7-day average of −0.500%): +$38 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OPENAI-PERP-INTX	1,631.2	0.0456	pay 0.0057% / 1h	45m 41s	$237K	$106K	5x
Short	Bitget OPENAIUSDT	1,629.2	0	get 0.0000% / 8h	1h 45m	$5.5M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$95.76
Price spread: −0.123% → −0.500%: $37.78
Slippage, 4 orders: −$144.44
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$224.42
Costs to cover: 1.664%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 37 min ago; Bitget: live order book, 2 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, 37 min ago	25.21 bp	41.6 bp −$42	66.9 bp −$669	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.30 bp	43.7 bp −$44	100.9 bp −$1,009	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	−0.0005%	1h	1,625.5	−0.347%	$1.2M	$372K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,696.1	+3.977%	$1.4M	$289K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,672.2	+2.515%	$760K	$225K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,659.2	+1.717%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,625	−0.378%	$52.8M	$40.6M	50x	as long as short
Bitget OPENAIUSDTshort	0.0000%	8h	1,629.2	−0.123%	$5.5M	$5.1M	20x
SunX OPENAI-USDT	0.0000%	8h	1,627.7	−0.214%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,628.6	−0.159%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,626.5	−0.288%	$79K	$213K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,628	−0.197%	$1.6M	$581K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin OPENAI-USDT	+0.0028%	8h	1,624.7	−0.397%	$473K	$295K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,665.7	+2.116%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,625.4	−0.352%	$132K	$670K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,634	+0.174%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,626.2	−0.309%	$23.1M	$21.0M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,628	−0.198%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,636.1	+0.302%	$377K	$65K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,625.7	−0.334%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,626.9	−0.263%	$2K	$153K	10x	as long as short
Entropy io:OAI	+0.0058%	1h	1,661.4	+1.852%	$7.3M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,625.7	−0.334%	—	—	10x	as long as short
Coinbase International OPENAI-PERP-INTXlong	+0.0456%	1h	1,631.2	long leg	$237K	$106K	5x