Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0233%/8h= −25.5% APRpaid last 24h −0.254%

Price spread now: HTX against Entropy−3.091%7-day average −4.390% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Entropy Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.792%−$79 on $10k

Price spread, last 4 days (all we have)−2.498%−$250 · spread now −3.091%, 7d avg −4.390%

Together, before fees−3.289%−$329 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 1.299% dearer against Entropy than usual: you sell high and buy low (spread −3.091% now, against its 7-day average of −4.390%): +$130 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:OAI	1,675.1	0.0233	pay 0.0029% / 1h	9m 24s	$7.7M	$2.3M	6x
Short	HTX OPENAI-USDT	1,623.3	0	get 0.0000% / 8h	4h 09m	$79K	$220K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Entropy. 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 EntropybpFee HTXbpOrdersPrice spread, now −3.091%Rate

Funding earned: −$48.92
Price spread: −3.091% → −4.390%: $129.87
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee HTX: 6 bp × 2 orders: −$12
Net: $50.96
Costs to cover: 0.300%
Break-even: from the start

Slippage unknown: Entropy: live order book, 6 min ago; HTX: live order book, 47 min ago. Net counts fees only.

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 Entropy live order book, 6 min ago	2.98 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 47 min ago	3.42 bp	9.4 bp −$9	16.4 bp −$164	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
Deribit OPENAI_USDC-PERPETUAL	−0.0109%	1h	1,621	−3.233%	—	$3	5x	as long as short
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,624.9	−2.995%	$226K	$161K	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,622.4	−3.145%	$1.2M	$549K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,663.7	−0.684%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652	−1.379%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.3	−3.333%	$52.4M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.7	−3.068%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.6	−3.074%	—	$2.4M	10x	as long as short
HTX OPENAI-USDTshort	0.0000%	8h	1,623.3	−3.091%	$79K	$220K	20x
Phemex OPENAIUSDT	0.0000%	8h	1,622.1	−3.162%	$1.6M	$546K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OPENAI	+0.0008%	1h	1,713.3	+2.279%	$1.4M	$266K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,681	+0.353%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622	−3.173%	$141K	$740K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.7	−2.829%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.4	−3.146%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.7	−3.127%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	−2.971%	$375K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.4	−3.147%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.2	−3.155%	$2K	$151K	10x	as long as short
BloFin OPENAI-USDT	+0.0076%	8h	1,622.6	−3.133%	$474K	$286K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.4	−3.149%	—	—	10x	as long as short
Entropy io:OAIlong	+0.0233%	1h	1,675.1	long leg	$7.7M	$2.3M	6x