Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.016%

Price spread now: QFEX against KuCoin+0.020%7-day average −0.073% · 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−$4,423as in the Price arb table

costs, in and out, $10k−$4,43244.324% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.059%−$6 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.020%, 7d avg −0.073%

Together, before fees−0.157%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.093% dearer against KuCoin than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.073%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPENAIUSDTM	1,624.8	0.0050	pay 0.0050% / 8h	4h 34m	$376K	$70K	20x
Short	QFEX OPENAI-USD	1,625.2	−0.0004	pay 0.0000% / 1h	34m 56s	$1.2M	$537K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$11.29
Price spread: +0.020% → −0.073%: $9.29
Slippage, 4 orders: −$4,410.37
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$4,434.37
Costs to cover: 44.324%
Break-even: never at this rate

Slippage from KuCoin: live order book, 47 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 KuCoin live order book, 47 min ago	7.87 bp	726.4 bp −$726	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 1 min ago	2.40 bp	8.7 bp −$9	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	1,625.7	+0.056%	$226K	$160K	5x	as long as short
QFEX OPENAI-USDshort	−0.0004%	1h	1,625.2	+0.020%	$1.2M	$537K	10x
Bybit OPENAIUSDT	0.0000%	8h	1,664.3	+2.430%	$756K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652.6	+1.709%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,621.6	−0.198%	$52.5M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,625.2	+0.023%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,625	+0.010%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,623.5	−0.082%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,625.5	+0.038%	$79K	$219K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,624.3	−0.032%	$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	1,713.9	+5.482%	$1.4M	$266K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,681.2	+3.468%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,624.6	−0.014%	$144K	$736K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,630.7	+0.362%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,625	+0.011%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,625.1	+0.017%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTMlong	+0.0050%	8h	1,624.8	long leg	$376K	$70K	20x
Variational Omni OPENAI	+0.0050%	8h	1,624.4	−0.028%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624.5	−0.018%	$2K	$148K	10x	as long as short
BloFin OPENAI-USDT	+0.0080%	8h	1,625.6	+0.050%	$474K	$283K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,624.5	−0.018%	—	—	10x	as long as short
Entropy io:OAI	+0.0249%	1h	1,672.2	+2.915%	$7.6M	$2.3M	6x	as long as short