Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h −0.241%

Price spread now: MEXC against Coinbase International−0.092%7-day average −0.460% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$480.476% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.664%−$66 on $10k

Price spread, last 3 days (all we have)−0.996%−$100 · spread now −0.092%, 7d avg −0.460%

Together, before fees−1.659%−$166 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 MEXC is 0.368% dearer against Coinbase International than usual: you sell high and buy low: +$37 more if the spread goes back to its 7-day average of −0.460%. Mind the row above: over the last 7 days funding on this pair cost −0.664%, 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	1,624.5	0.0024	pay 0.0003% / 1h	34m 21s	$222K	$155K	5x
Short	MEXC OPENAI_USDT	1,623	0.0050	get 0.0050% / 8h	6h 34m	$13.1M	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.092%Rate

Funding earned: $5.46
Price spread: −0.092% → −0.460%: $36.81
Slippage, 4 orders: −$37.58
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$5.31
Costs to cover: 0.476%
Break-even: 13.8 days

Slippage from Coinbase International: live order book, 34 min ago; MEXC: live order book, 4 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, 34 min ago	5.96 bp	31.5 bp −$31	54.6 bp −$546	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.95 bp	1.6 bp −$2	6.0 bp −$60	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	−0.0004%	1h	1,622.7	−0.109%	$1.2M	$413K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.7	+5.183%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.2	+2.568%	$764K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.9	+1.628%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.8	−0.286%	$52.4M	$31.8M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.9	−0.033%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624	−0.028%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,622.6	−0.116%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.2	−0.142%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.1	−0.146%	$1.6M	$562K	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	+0.0024%	1h	1,624.5	long leg	$222K	$155K	5x
Lighter RH OPENAI	+0.0032%	1h	1,676.2	+3.188%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622.3	−0.130%	$136K	$717K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.6	+0.192%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.8	−0.104%	$22.9M	$18.9M	20x	as long as short
MEXC OPENAI_USDTshort	+0.0050%	8h	1,623	−0.092%	$13.1M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,626.2	+0.105%	$377K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622	−0.148%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624	−0.029%	$2K	$137K	10x	as long as short
BloFin OPENAI-USDT	+0.0059%	8h	1,629.3	+0.296%	$477K	$280K	20x	as long as short
Entropy io:OAI	+0.0073%	1h	1,669	+2.742%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.3	−0.130%	—	—	10x	as long as short