Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.50 per $10,000 · paid last 24h −0.015%
Price spread now: Bybit against KuCoin+2.342%7-day average +2.842% · you sell dearer than you buy
Net, funding: paid 7d − costs−$3,598as in the Funding arb table
Net, price: spread back to 7d avg − costs−$3,638as in the Price arb table
costs, in and out, $10k−$3,58835.879% of the position
Funding, last 7 days−0.105%−$11 on $10k
+Price spread, last 4 days (all we have)+0.330%+$33 · spread now +2.342%, 7d avg +2.842%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.500% cheaper against KuCoin than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of +2.842%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin OPENAIUSDTM | 1,625.3 | 0.0050 | pay 0.0050% / 8h | 3h 39m | $375K | $68K | 20x |
| Short | Bybit OPENAIUSDT | 1,663.4 | 0 | get 0.0000% / 8h | 3h 39m | $755K | $206K | 25x |
KuCoin OPENAIUSDTM
Bybit OPENAIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.5
- Price spread: +2.342% → +2.842%
- −$49.95
- Slippage, 4 orders
- −$3,564.85
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$3,648.31
- Costs to cover
- 35.879%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 33 min ago; Bybit: 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 KuCoin live order book, 33 min ago | 7.75 bp | 576.6 bp −$577 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 10 min ago | 8.72 bp | 73.9 bp −$74 | 1090.3 bp −$10.9K | 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 | −0.0001% | 1h | 1,620.5 | −0.297% | $1.2M | $564K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,711.8 | +5.320% | $1.4M | $265K | 5x | as long as short |
| Bybit OPENAIUSDTshort | 0.0000% | 8h | 1,663.4 | +2.342% | $755K | $206K | 25x | |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,649.9 | +1.512% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,617.5 | −0.479% | $52.3M | $25.3M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,622.5 | −0.176% | $5.5M | $5.0M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,622.9 | −0.150% | — | $2.4M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,621.4 | −0.245% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,621.6 | −0.230% | $79K | $221K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,620.6 | −0.290% | $1.6M | $540K | 10x | as long as short |
QFEX OPENAI-USD
Lighter OPENAI
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDT
Phemex OPENAIUSDTShow 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 | +3.303% | $2.7M | $6.2M | 5x | as long as short |
| BloFin OPENAI-USDT | +0.0038% | 8h | 1,621.3 | −0.250% | $473K | $286K | 20x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,620.1 | −0.325% | $141K | $737K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,627.5 | +0.131% | $212K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,620.5 | −0.297% | $22.9M | $17.7M | 20x | as long as short |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,620.7 | −0.288% | $13.0M | $3.2M | 50x | as long as short |
| KuCoin OPENAIUSDTMlong | +0.0050% | 8h | 1,625.3 | long leg | $375K | $68K | 20x | |
| Variational Omni OPENAI | +0.0050% | 8h | 1,620.2 | −0.317% | $2.6M | $766K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,620.9 | −0.271% | $2K | $157K | 10x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.0056% | 1h | 1,622 | −0.204% | $226K | $162K | 5x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,620.3 | −0.311% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0127% | 1h | 1,672.9 | +2.927% | $7.7M | $2.3M | 6x | as long as short |
Lighter RH OPENAI
BloFin OPENAI-USDT
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
MEXC OPENAI_USDT
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
Coinbase International OPENAI-PERP-INTX
Aevo OPENAI-PERP
Entropy io:OAI