Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

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: Phemex against Gate+0.208%7-day average +0.175% · you sell dearer than you buy

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1601.599% of the position

Long on Gate Short on Phemex

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)−0.040%−$4 · spread now +0.208%, 7d avg +0.175%

Together, before fees−0.040%−$4 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: Phemex is 0.033% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.175%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OPENAI_USDT	1,614.9	0	get 0.0000% / 8h	1h 52m	$52.3M	$18.0M	50x
Short	Phemex OPENAIUSDT	1,618.3	0	get 0.0000% / 8h	1h 52m	$1.6M	$515K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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

Position, each leg$Hold fordaysFee GatebpFee PhemexbpOrdersPrice spread, now +0.208%Rate

Funding earned: $0
Price spread: +0.208% → +0.175%: $3.26
Slippage, 4 orders: −$132.9
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$156.64
Costs to cover: 1.599%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Phemex: live order book, 1 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 Gate live order book, 2 min ago	2.01 bp	20.5 bp −$20	653.7 bp −$6,537	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	1.11 bp	65.7 bp −$66	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	−0.0002%	1h	1,618.5	+0.222%	$1.2M	$611K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.5	+6.042%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,659.5	+2.759%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,646.3	+1.942%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDTlong	0.0000%	8h	1,614.9	long leg	$52.3M	$18.0M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,619.1	+0.260%	$5.4M	$4.7M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,619.2	+0.264%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,618.7	+0.231%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,618.7	+0.232%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDTshort	0.0000%	8h	1,618.3	+0.208%	$1.6M	$515K	10x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAI	+0.0032%	1h	1,679.4	+3.990%	$2.7M	$6.0M	5x	as long as short
BloFin OPENAI-USDT	+0.0036%	8h	1,618.2	+0.201%	$472K	$289K	20x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	+0.625%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,618.1	+0.194%	$141K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,621.5	+0.403%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,618.5	+0.221%	$22.8M	$17.3M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,618.5	+0.219%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.5	+0.344%	$372K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,619	+0.251%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,619.2	+0.263%	$2K	$174K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,617.7	+0.173%	—	—	10x	as long as short
Entropy io:OAI	+0.0139%	1h	1,670.2	+3.422%	$7.7M	$2.3M	6x	as long as short