Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h −0.001%

Price spread now: QFEX against Gate+0.192%7-day average +0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$510.506% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.192%, 7d avg +0.126%

Together, before fees−0.025%−$2 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: QFEX is 0.066% dearer against Gate than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate OPENAI_USDT	1,612.2	0	get 0.0000% / 8h	2h 25m	$52.2M	$19.7M	50x
Short	QFEX OPENAI-USD	1,615.3	−0.0005	pay 0.0001% / 1h	25m 34s	$1.2M	$604K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.192%Rate

Funding earned: −$1.01
Price spread: +0.192% → +0.126%: $6.63
Slippage, 4 orders: −$25.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$44.93
Costs to cover: 0.506%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; QFEX: 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, 3 min ago	3.14 bp	25.1 bp −$25	623.1 bp −$6,231	doesn't fit	doesn't fit
Sell QFEX live order book, 1 min ago	1.39 bp	6.4 bp −$6	7.3 bp −$73	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-USDshort	−0.0005%	1h	1,615.3	+0.192%	$1.2M	$604K	10x
Lighter OPENAI	0.0000%	1h	1,707.2	+5.895%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,657.3	+2.801%	$752K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,641.9	+1.844%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDTlong	0.0000%	8h	1,612.2	long leg	$52.2M	$19.7M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,617.2	+0.313%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,617	+0.300%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,614.9	+0.167%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,614.9	+0.169%	$79K	$222K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,615.2	+0.190%	$1.6M	$522K	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	1,620.9	+0.543%	$226K	$161K	5x	as long as short
BloFin OPENAI-USDT	+0.0025%	8h	1,615.5	+0.207%	$472K	$287K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,674.3	+3.853%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,614.8	+0.164%	$142K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,619.3	+0.441%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,615.1	+0.184%	$22.8M	$17.3M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,615.4	+0.201%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,618	+0.363%	$373K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,614.9	+0.167%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,614.7	+0.154%	$2K	$168K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,614.9	+0.168%	—	—	10x	as long as short
Entropy io:OAI	+0.0118%	1h	1,665	+3.277%	$7.6M	$2.3M	6x	as long as short