Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.188%

Price spread now: QFEX against HTX+0.091%7-day average +0.009% · 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−$36as in the Price arb table

costs, in and out, $10k−$450.447% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.184%+$18 on $10k

Price spread, last 4 days (all we have)−0.130%−$13 · spread now +0.091%, 7d avg +0.009%

Together, before fees+0.054%+$5 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 0.082% dearer against HTX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX OPENAI-USDT	1,624.1	0	get 0.0000% / 8h	4h 36m	$79K	$219K	20x
Short	QFEX OPENAI-USD	1,625.6	−0.0004	pay 0.0000% / 1h	36m 04s	$1.2M	$537K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against HTX. 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 HTXbpFee QFEXbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$0.79
Price spread: +0.091% → +0.009%: $8.22
Slippage, 4 orders: −$22.7
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$37.27
Costs to cover: 0.447%
Break-even: never at this rate

Slippage from HTX: live order book, 20 min ago; QFEX: live order book, 10 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 HTX live order book, 20 min ago	3.42 bp	16.6 bp −$17	40.8 bp −$408	doesn't fit	doesn't fit
Sell QFEX live order book, 10 min ago	1.60 bp	8.1 bp −$8	18.0 bp −$180	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	−0.0024%	1h	1,625.7	+0.102%	$226K	$160K	5x	as long as short
QFEX OPENAI-USDshort	−0.0004%	1h	1,625.6	+0.091%	$1.2M	$537K	10x
Bybit OPENAIUSDT	0.0000%	8h	1,664	+2.458%	$757K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652.2	+1.731%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,621.8	−0.142%	$52.5M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,625.5	+0.086%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,625.8	+0.105%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,624.5	+0.026%	—	$3	5x	as long as short
HTX OPENAI-USDTlong	0.0000%	8h	1,624.1	long leg	$79K	$219K	20x
Phemex OPENAIUSDT	0.0000%	8h	1,624.5	+0.025%	$1.6M	$546K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OPENAI	+0.0008%	1h	1,713.7	+5.516%	$1.4M	$266K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,681	+3.504%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,625.1	+0.061%	$144K	$736K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,631.4	+0.450%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,625.4	+0.081%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,624.8	+0.042%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.4	+0.022%	$376K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,624.4	+0.018%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.8	−0.080%	$2K	$147K	10x	as long as short
BloFin OPENAI-USDT	+0.0080%	8h	1,625.8	+0.105%	$474K	$283K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,624.9	+0.050%	—	—	10x	as long as short
Entropy io:OAI	+0.0244%	1h	1,671.7	+2.931%	$7.6M	$2.3M	6x	as long as short