Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h −0.218%

Price spread now: KuCoin against Coinbase International−0.177%7-day average −0.370% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3,592as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,502as in the Price arb table

costs, in and out, $10k−$3,52135.210% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.712%−$71 on $10k

Price spread, last 4 days (all we have)−0.818%−$82 · spread now −0.177%, 7d avg −0.370%

Together, before fees−1.530%−$153 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and KuCoin is 0.192% dearer against Coinbase International than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.370%. Mind the row above: over the last 7 days funding on this pair cost −0.712%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International OPENAI-PERP-INTX	1,622.8	0.0016	pay 0.0002% / 1h	8m 02s	$226K	$162K	5x
Short	KuCoin OPENAIUSDTM	1,619.9	0.0050	get 0.0050% / 8h	2h 08m	$373K	$70K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.177%Rate

Funding earned: $7.14
Price spread: −0.177% → −0.370%: $19.24
Slippage, 4 orders: −$3,498.98
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$3,494.59
Costs to cover: 35.210%
Break-even: 3433.1 days

Slippage from Coinbase International: live order book, 40 min ago; KuCoin: live order book, 50 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, 40 min ago	8.88 bp	18.4 bp −$18	55.5 bp −$555	doesn't fit	doesn't fit
Sell KuCoin live order book, 50 min ago	8.00 bp	2878.3 bp −$2,878	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
QFEX OPENAI-USD	−0.0005%	1h	1,619.7	−0.194%	$1.2M	$607K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,711	+5.436%	$1.4M	$265K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,659.2	+2.241%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,648.2	+1.565%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,615.6	−0.442%	$52.3M	$19.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,619.6	−0.197%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,619.5	−0.203%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,619.1	−0.231%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,620.2	−0.158%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.3	−0.280%	$1.6M	$522K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTXlong	+0.0016%	1h	1,622.8	long leg	$226K	$162K	5x
Lighter RH OPENAI	+0.0032%	1h	1,677.9	+3.395%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,618.9	−0.242%	$141K	$896K	10x	as long as short
BloFin OPENAI-USDT	+0.0049%	8h	1,620	−0.176%	$470K	$291K	20x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,623.4	+0.038%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,619.3	−0.213%	$22.9M	$17.5M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,618.9	−0.243%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTMshort	+0.0050%	8h	1,619.9	−0.177%	$373K	$70K	20x
Variational Omni OPENAI	+0.0050%	8h	1,616.6	−0.381%	$2.6M	$760K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,616.6	−0.379%	$2K	$170K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,619.4	−0.210%	—	—	10x	as long as short
Entropy io:OAI	+0.0156%	1h	1,668.1	+2.791%	$7.7M	$2.3M	6x	as long as short