Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0118%/8h= −12.9% APRpaid last 24h −0.072%

Price spread now: SunX against Entropy−2.788%7-day average −4.463% · you buy dearer than you sell

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

Long on Entropy Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.610%−$61 on $10k

Price spread, last 3 days (all we have)−2.765%−$277 · spread now −2.788%, 7d avg −4.463%

Together, before fees−3.376%−$338 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 1.676% dearer against Entropy than usual: you sell high and buy low (spread −2.788% now, against its 7-day average of −4.463%): +$168 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 48 days. At the pace of the last 7 days (−0.610% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:OAI	1,675.3	0.0118	pay 0.0015% / 1h	23m 15s	$7.4M	$2.2M	6x
Short	SunX OPENAI-USDT	1,628.6	0	get 0.0000% / 8h	7h 23m	—	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −2.788%Rate

Funding earned: −$24.69
Price spread: −2.788% → −4.463%: $167.59
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee SunX: 4 bp × 2 orders: −$8
Net: $116.9
Costs to cover: 0.260%
Break-even: from the start

Slippage unknown: Entropy: live order book, 4 min ago; SunX: live order book, 4 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, 4 min ago	1.19 bp	18.6 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	500.12 bp	doesn't fit	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
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,628.2	−2.810%	$228K	$147K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,627.9	−2.828%	$1.2M	$418K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,711.2	+2.144%	$1.4M	$283K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,672.2	−0.183%	$769K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,658.9	−0.979%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,626	−2.942%	$52.6M	$39.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,629.3	−2.743%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDTshort	0.0000%	8h	1,628.6	−2.788%	—	$2.6M	10x
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,628.4	−2.798%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,628.6	−2.786%	$79K	$214K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDT	0.0000%	8h	1,628.5	−2.792%	$1.6M	$561K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,683.3	+0.480%	$2.7M	$6.3M	5x	as long as short
BloFin OPENAI-USDT	+0.0039%	8h	1,629	−2.764%	$474K	$280K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,628.1	−2.817%	$133K	$820K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,634.1	−2.460%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,628.5	−2.795%	$23.1M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,628.2	−2.811%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,637.1	−2.281%	$379K	$65K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,630.1	−2.701%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.4	−2.801%	$2K	$138K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,628.2	−2.810%	—	—	10x	as long as short
Entropy io:OAIlong	+0.0118%	1h	1,675.3	long leg	$7.4M	$2.2M	6x