Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.070%

Price spread now: OKX against Entropy−1.084%7-day average −3.351% · you buy dearer than you sell

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

Long on Entropy Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.607%−$61 on $10k

Price spread, last 7 days−3.336%−$334 · spread now −1.084%, 7d avg −3.351%

Together, before fees−3.944%−$394 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 2.267% dearer against Entropy than usual: you sell high and buy low (spread −1.084% now, against its 7-day average of −3.351%): +$227 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months. At the pace of the last 7 days (−0.607% in total) that is about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:OAI	1,669	0.0073	pay 0.0009% / 1h	34m 35s	$7.4M	$2.2M	6x
Short	OKX OPENAI-USDT-SWAP	1,650.9	0	get 0.0000% / 8h	6h 34m	$5.1M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −1.084%Rate

Funding earned: −$15.4
Price spread: −1.084% → −3.351%: $226.67
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: $183.27
Costs to cover: 0.280%
Break-even: from the start

Slippage unknown: Entropy: live order book, 1 min ago; OKX: live order book, 3 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, 1 min ago	0.60 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.61 bp	37.6 bp −$38	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	−0.0004%	1h	1,622.7	−2.775%	$1.2M	$413K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,708.7	+2.376%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.1	−0.172%	$764K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAPshort	0.0000%	8h	1,650.9	−1.084%	$5.1M	$1.3M	20x
Gate OPENAI_USDT	0.0000%	8h	1,619.6	−2.958%	$52.4M	$31.8M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.9	−2.702%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.5	−2.726%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,622.3	−2.799%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.2	−2.807%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.1	−2.811%	$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-INTX	+0.0024%	1h	1,624.5	−2.669%	$222K	$155K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,676.2	+0.433%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622.2	−2.802%	$136K	$717K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.4	−2.492%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.7	−2.774%	$22.9M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.9	−2.765%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,626.2	−2.567%	$377K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622	−2.814%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624	−2.698%	$2K	$137K	10x	as long as short
BloFin OPENAI-USDT	+0.0059%	8h	1,629.3	−2.381%	$477K	$280K	20x	as long as short
Entropy io:OAIlong	+0.0073%	1h	1,669	long leg	$7.4M	$2.2M	6x
Aevo OPENAI-PERP	+0.0104%	1h	1,622	−2.814%	—	—	10x	as long as short