Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0135%/8h= +14.8% APRpaid last 24h +0.064%

Price spread now: Entropy against Gate+3.404%7-day average +5.373% · you sell dearer than you buy

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

Long on Gate Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.598%+$60 on $10k

Price spread, last 7 days+3.102%+$310 · spread now +3.404%, 7d avg +5.373%

Together, before fees+3.700%+$370 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 1.969% cheaper against Gate than usual: you would sell low and buy high (spread +3.404% now, against its 7-day average of +5.373%). If the spread goes back, that is −$197 on $10k: about 49 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.598% in total) that is about 23 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OPENAI_USDT	1,611.2	0	get 0.0000% / 8h	2h 47m	$52.2M	$19.6M	50x
Short	Entropy io:OAI	1,666	0.0135	get 0.0017% / 1h	47m 04s	$7.6M	$2.3M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee EntropybpOrdersPrice spread, now +3.404%Rate

Funding earned: $28.32
Price spread: +3.404% → +5.373%: −$196.86
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$201.54
Costs to cover: 0.330%
Break-even: 56.8 days

Slippage unknown: Gate: live order book, 2 min ago; Entropy: live order book, 10 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 Gate live order book, 2 min ago	2.17 bp	13.5 bp −$14	222.9 bp −$2,229	doesn't fit	doesn't fit
Sell Entropy live order book, 10 min ago	0.30 bp	27.1 bp −$27	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	1,614.3	+0.195%	$1.2M	$597K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,706	+5.889%	$1.4M	$260K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,658.5	+2.939%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,645.9	+2.157%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDTlong	0.0000%	8h	1,611.2	long leg	$52.2M	$19.6M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,616.5	+0.334%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,616.4	+0.326%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,614.9	+0.233%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,614.9	+0.235%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,614.1	+0.181%	$1.6M	$529K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0016%	1h	1,617.9	+0.416%	$225K	$161K	5x	as long as short
BloFin OPENAI-USDT	+0.0028%	8h	1,613.9	+0.172%	$473K	$286K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,673.3	+3.859%	$2.6M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,614	+0.175%	$142K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,619.1	+0.492%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,614.4	+0.202%	$22.8M	$17.4M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,614.2	+0.192%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,619.4	+0.515%	$373K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,615.2	+0.249%	$2.6M	$764K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,614.5	+0.211%	$2K	$163K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,614	+0.179%	—	—	10x	as long as short
Entropy io:OAIshort	+0.0135%	1h	1,666	+3.404%	$7.6M	$2.3M	6x