Funding you earn now, next payment 08:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.061%
Price spread now: Phemex against Entropy−2.916%7-day average −4.322% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.590%−$59 on $10k
+Price spread, last 4 days (all we have)−2.558%−$256 · spread now −2.916%, 7d avg −4.322%
=The price spread pays, funding is against you. Phemex is 1.406% dearer against Entropy than usual: you sell high and buy low (spread −2.916% now, against its 7-day average of −4.322%): +$141 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 38 days. At the pace of the last 7 days (−0.590% in total) that is about 17 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Entropy io:OAI | 1,666 | 0.0124 | pay 0.0016% / 1h | 35m 01s | $7.6M | $2.3M | 6x |
| Short | Phemex OPENAIUSDT | 1,617.4 | 0 | get 0.0000% / 8h | 35m 01s | $1.6M | $508K | 10x |
Entropy io:OAI
Phemex OPENAIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Entropy. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$26.1
- Price spread: −2.916% → −4.322%
- $140.64
- Slippage, 4 orders
- no order book: not counted
- Fee Entropy: 9 bp × 2 orders
- −$18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $84.54
- Costs to cover
- 0.300%
- Break-even
- from the start
Slippage unknown: Entropy: live order book, 2 min ago; Phemex: 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, 2 min ago | 0.30 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 4.86 bp | 56.0 bp −$56 | 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 | 1,617.7 | −2.900% | $1.2M | $617K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,706.8 | +2.447% | $1.4M | $268K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,657.7 | −0.501% | $738K | $263K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,647.4 | −1.116% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,616 | −3.000% | $45.3M | $13.8M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,618.9 | −2.825% | $5.4M | $4.4M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,619.3 | −2.803% | — | $2.4M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,617.6 | −2.906% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,617 | −2.941% | $79K | $224K | 20x | as long as short |
| Phemex OPENAIUSDTshort | 0.0000% | 8h | 1,617.4 | −2.916% | $1.6M | $508K | 10x |
QFEX OPENAI-USD
Lighter OPENAI
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAI | +0.0032% | 1h | 1,671.5 | +0.327% | $2.7M | $6.0M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,617.3 | −2.925% | $142K | $808K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,620.1 | −2.757% | $211K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,617.7 | −2.898% | $22.8M | $16.8M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,618.1 | −2.878% | $6.6M | $5.0M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,619.8 | −2.771% | $375K | $67K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,617.5 | −2.911% | $2.6M | $758K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,616.6 | −2.965% | $2K | $181K | 10x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.0072% | 1h | 1,619.5 | −2.789% | $226K | $166K | 5x | as long as short |
| BloFin OPENAI-USDT | +0.0075% | 8h | 1,617.3 | −2.921% | $474K | $296K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,617.6 | −2.906% | — | — | 10x | as long as short |
| Entropy io:OAIlong | +0.0124% | 1h | 1,666 | long leg | $7.6M | $2.3M | 6x |
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
Coinbase International OPENAI-PERP-INTX
BloFin OPENAI-USDT
Aevo OPENAI-PERP