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: OKX against Extended+1.821%7-day average +2.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$180as in the Price arb table

costs, in and out, $10k−$1581.582% of the position

Long on Extended Short on OKX

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)−0.010%−$1 · spread now +1.821%, 7d avg +2.041%

Together, before fees−0.111%+ Points / potential airdropExtended: Active · farm board−$11 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 OKX is 0.220% cheaper against Extended than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +2.041%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended OPENAI-USD	1,631.2	0.0048	pay 0.0006% / 1h	12m 34s	$132K	$667K	10x
Short	OKX OPENAI-USDT-SWAP	1,660.9	0	get 0.0000% / 8h	12m 34s	$5.1M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +1.821%Rate

Funding earned: −$10.08
Price spread: +1.821% → +2.041%: −$22.01
Slippage, 4 orders: −$143.19
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$190.28
Costs to cover: 1.582%
Break-even: never at this rate

Slippage from Extended: live order book, 65 min ago; OKX: live order book, 5 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, 65 min ago	3.40 bp	40.5 bp −$41	270.8 bp −$2,708	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.11 bp	40.2 bp −$40	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	1,632.3	+0.064%	$236K	$149K	5x	as long as short
QFEX OPENAI-USD	−0.0010%	1h	1,631.6	+0.022%	$1.2M	$387K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,711.4	+4.918%	$1.4M	$287K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,677	+2.808%	$772K	$210K	25x	as long as short
OKX OPENAI-USDT-SWAPshort	0.0000%	8h	1,660.9	+1.821%	$5.1M	$1.3M	20x
Gate OPENAI_USDT	0.0000%	8h	1,629.4	−0.113%	$52.7M	$39.6M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,634.2	+0.184%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,632.5	+0.080%	—	$2.6M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,632	+0.047%	$79K	$214K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,631.3	+0.004%	$1.6M	$558K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAI	+0.0032%	1h	1,683.7	+3.218%	$2.6M	$6.3M	5x	as long as short
BloFin OPENAI-USDT	+0.0048%	8h	1,631.2	−0.002%	$473K	$278K	20x	as long as short
Extended OPENAI-USDlong	+0.0048%	1h	1,631.2	long leg	$132K	$667K	10x
Aster OPENAIUSDT	+0.0050%	8h	1,636.5	+0.323%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,631.6	+0.022%	$23.2M	$18.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,632	+0.050%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,635.5	+0.262%	$377K	$63K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,631.7	+0.029%	$2.6M	$751K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.9	−0.139%	$2K	$140K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,630.9	−0.016%	—	—	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0239%	1h	1,632.2	+0.061%	—	$3	5x	as long as short
Entropy io:OAI	+0.0247%	1h	1,674	+2.624%	$7.4M	$2.2M	6x	as long as short