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Funding arb · Price arb /

OPENAI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Gate+2.826%7-day average +3.072% · you sell dearer than you buy
Net, funding: paid 7d − costs−$164as in the Funding arb table
Net, price: spread back to 7d avg − costs−$188as in the Price arb table
costs, in and out, $10k−$1641.638% of the position
Long on GateShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days0.000%$0 on $10k
Price spread, last 4 days (all we have)−0.113%−$11 · spread now +2.826%, 7d avg +3.072%
Together, before fees−0.113%−$11 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.246% cheaper against Gate than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of +3.072%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate OPENAI_USDT1,612.80get 0.0000% / 8h1h 13m$44.7M$18.5M50x
ShortBybit OPENAIUSDT1,658.40get 0.0000% / 8h1h 13m$753K$206K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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

Funding earned
$0
Price spread: +2.826% → +3.072%
−$24.57
Slippage, 4 orders
−$137.78
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$188.35
Costs to cover
1.638%
Break-even
never at this rate
Slippage from Gate: live order book, 5 min ago; Bybit: live order book, 26 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 5 min ago0.09 bp13.1 bp −$13184.0 bp −$1,840doesn't fitdoesn't fit
Sell Bybit live order book, 26 min ago12.11 bp91.0 bp −$911102.1 bp −$11.0Kdoesn't fitdoesn't fit

OPENAI on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit OPENAI_USDC-PERPETUAL−0.1291%1h1,615.6+0.171%—$35xas long as short
QFEX OPENAI-USD−0.0002%1h1,614.6+0.110%$1.2M$618K10xas long as short
Lighter OPENAI0.0000%1h1,711.3+6.104%$1.4M$266K5xas long as short
Bybit OPENAIUSDTshort0.0000%8h1,658.4+2.826%$753K$206K25x
OKX OPENAI-USDT-SWAP0.0000%8h1,646.6+2.095%$5.1M$1.3M20xas long as short
Gate OPENAI_USDTlong0.0000%8h1,612.8long leg$44.7M$18.5M50x
Bitget OPENAIUSDT0.0000%8h1,616.2+0.211%$5.4M$4.7M20xas long as short
SunX OPENAI-USDT0.0000%8h1,614.9+0.130%—$2.4M10xas long as short
HTX OPENAI-USDT0.0000%8h1,615.5+0.169%$79K$227K20xas long as short
Phemex OPENAIUSDT0.0000%8h1,615.1+0.141%$1.6M$512K10xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BloFin OPENAI-USDT+0.0030%8h1,615.1+0.139%$472K$296K20xas long as short
Lighter RH OPENAI+0.0032%1h1,678+4.041%$2.7M$6.1M5xas long as short
Coinbase International OPENAI-PERP-INTX+0.0040%1h1,624.3+0.714%$226K$162K5xas long as short
Extended OPENAI-USD+0.0048%1h1,614.4+0.101%$141K$586K10xas long as short
Aster OPENAIUSDT+0.0050%8h1,617.7+0.301%$211K$3K20xas long as short
Binance OPENAIUSDT+0.0050%8h1,614.9+0.132%$22.8M$17.7M20xas long as short
MEXC OPENAI_USDT+0.0050%8h1,621+0.510%$7.9M$4.9M50xas long as short
KuCoin OPENAIUSDTM+0.0050%8h1,623+0.632%$373K$70K20xas long as short
Variational Omni OPENAI+0.0050%8h1,616.7+0.244%$2.6M$757K—as long as short
GRVT OPENAI_USDT_Perp+0.0050%8h1,617.6+0.297%$3K$180K10xas long as short
Aevo OPENAI-PERP+0.0104%1h1,614.6+0.112%——10xas long as short
Entropy io:OAI+0.0152%1h1,669.9+3.540%$7.7M$2.3M6xas long as short