OPENAI

Alert: funding

Alert: spread

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: Phemex against KuCoin−0.223%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,224as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,228as in the Price arb table

costs, in and out, $10k−$1,21412.138% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 3 days (all we have)+0.180%+$18 · spread now −0.223%, 7d avg −0.085%

Together, before fees+0.075%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.138% cheaper against KuCoin than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.085%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPENAIUSDTM	1,631.6	0.0050	pay 0.0050% / 8h	7h 00m	$377K	$67K	20x
Short	Phemex OPENAIUSDT	1,628	0	get 0.0000% / 8h	7h 00m	$1.6M	$562K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now −0.223%Rate

Funding earned: −$10.5
Price spread: −0.223% → −0.085%: −$13.85
Slippage, 4 orders: −$1,189.84
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$1,238.19
Costs to cover: 12.138%
Break-even: never at this rate

Slippage from KuCoin: live order book, 52 min ago; Phemex: live order book, 3 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, 52 min ago	6.72 bp	581.4 bp −$581	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.70 bp	62.9 bp −$63	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
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,630.6	−0.059%	$226K	$150K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,628.9	−0.164%	$1.2M	$422K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,714.5	+5.083%	$1.4M	$288K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,669.1	+2.298%	$767K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,658.6	+1.655%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,625.4	−0.380%	$52.6M	$39.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,628.8	−0.174%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,630	−0.098%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,630.4	−0.076%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,629.6	−0.126%	$79K	$214K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDTshort	0.0000%	8h	1,628	−0.223%	$1.6M	$562K	10x
Lighter RH OPENAI	+0.0032%	1h	1,681.5	+3.057%	$2.7M	$6.3M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,628.1	−0.217%	$132K	$716K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,636.5	+0.298%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,628.5	−0.192%	$23.1M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,628.5	−0.189%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTMlong	+0.0050%	8h	1,631.6	long leg	$377K	$67K	20x
Variational Omni OPENAI	+0.0050%	8h	1,628.8	−0.169%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.9	−0.166%	$2K	$138K	10x	as long as short
BloFin OPENAI-USDT	+0.0079%	8h	1,629.1	−0.153%	$475K	$279K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,629	−0.159%	—	—	10x	as long as short
Entropy io:OAI	+0.0111%	1h	1,673.4	+2.562%	$7.4M	$2.2M	6x	as long as short