Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.014%

Price spread now: Gate against Extended−0.162%7-day average −0.141% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1281.277% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.162%, 7d avg −0.141%

Together, before fees+0.012%+ Points / potential airdropExtended: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.021% cheaper against Extended than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.141%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended OPENAI-USD	1,624	0.0048	pay 0.0006% / 1h	39m 36s	$131K	$667K	10x
Short	Gate OPENAI_USDT	1,621.4	0	get 0.0000% / 8h	39m 36s	$52.7M	$39.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now −0.162%Rate

Funding earned: −$10.08
Price spread: −0.162% → −0.141%: −$2.11
Slippage, 4 orders: −$107.69
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$139.88
Costs to cover: 1.277%
Break-even: never at this rate

Slippage from Extended: live order book, 38 min ago; Gate: 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 Extended live order book, 38 min ago	3.40 bp	40.5 bp −$41	270.8 bp −$2,708	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.75 bp	15.3 bp −$15	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	−0.0168%	1h	1,625.4	+0.083%	$236K	$145K	5x	as long as short
QFEX OPENAI-USD	−0.0010%	1h	1,624.5	+0.031%	$1.2M	$387K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,704.7	+4.966%	$1.4M	$286K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,669.6	+2.807%	$764K	$220K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,654.5	+1.877%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDTshort	0.0000%	8h	1,621.4	−0.162%	$52.7M	$39.4M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,625.1	+0.067%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.5	+0.030%	—	$2.6M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,625.3	+0.079%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,625.7	+0.107%	$79K	$213K	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	1,624.5	+0.031%	$1.6M	$559K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,676.9	+3.254%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USDlong	+0.0048%	1h	1,624	long leg	$131K	$667K	10x
Aster OPENAIUSDT	+0.0050%	8h	1,629.5	+0.335%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,624.6	+0.034%	$23.1M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,624.2	+0.010%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,627.8	+0.233%	$376K	$64K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,624.2	+0.011%	$2.6M	$753K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,623.2	−0.050%	$2K	$141K	10x	as long as short
BloFin OPENAI-USDT	+0.0074%	8h	1,623.7	−0.022%	$470K	$275K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,623.9	−0.006%	—	—	10x	as long as short
Entropy io:OAI	+0.0252%	1h	1,666.7	+2.629%	$7.4M	$2.2M	6x	as long as short