Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: Binance against Lighter−4.796%7-day average −6.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$210as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$2202.202% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 2 days (all we have)−1.163%−$116 · spread now −4.796%, 7d avg −6.066%

Together, before fees−1.060%+ Points / potential airdropLighter: Season 3 · farm board−$106 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 1.269% dearer against Lighter than usual: you sell high and buy low: +$127 more if the spread goes back to its 7-day average of −6.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,709.4	0	get 0.0000% / 1h	48m 10s	$1.4M	$282K	5x
Short	Binance OPENAIUSDT	1,627.4	0.0050	get 0.0050% / 8h	7h 48m	$23.1M	$18.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now −4.796%Rate

Funding earned: $10.5
Price spread: −4.796% → −6.066%: $126.93
Slippage, 4 orders: −$210.23
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$82.81
Costs to cover: 2.202%
Break-even: 62.2 days

Slippage from Lighter: live order book, 3 min ago; Binance: live order book, 8 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 Lighter live order book, 3 min ago	2.04 bp	97.3 bp −$97	886.0 bp −$8,860	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.58 bp	15.4 bp −$15	56.8 bp −$568	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
Deribit OPENAI_USDC-PERPETUAL	−0.0148%	1h	1,627.5	−4.792%	—	$3	5x	as long as short
Coinbase International OPENAI-PERP-INTX	−0.0024%	1h	1,627.8	−4.774%	$230K	$152K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,627.7	−4.783%	$1.2M	$386K	10x	as long as short
Lighter OPENAIlong	0.0000%	1h	1,709.4	long leg	$1.4M	$282K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,671.8	−2.202%	$770K	$209K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,660.3	−2.874%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,624.5	−4.970%	$52.6M	$39.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,628.1	−4.755%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,628.1	−4.758%	—	$2.6M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,627.9	−4.771%	$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 OPENAIUSDT	0.0000%	8h	1,627.1	−4.817%	$1.6M	$560K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,681.3	−1.644%	$2.7M	$6.2M	5x	as long as short
BloFin OPENAI-USDT	+0.0036%	8h	1,628.2	−4.754%	$473K	$278K	20x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,627.1	−4.816%	$132K	$729K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,634	−4.415%	$213K	$3K	20x	as long as short
Binance OPENAIUSDTshort	+0.0050%	8h	1,627.4	−4.796%	$23.1M	$18.9M	20x
MEXC OPENAI_USDT	+0.0050%	8h	1,627.6	−4.786%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,637.1	−4.232%	$379K	$65K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,626.8	−4.833%	$2.6M	$752K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,631.6	−4.553%	$2K	$139K	10x	as long as short
Entropy io:OAI	+0.0083%	1h	1,675.9	−1.961%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,627.6	−4.786%	—	—	10x	as long as short