OPENAI

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0104%/8h= −11.4% APRnext payment −$0.13 per $10,000 · paid last 24h +0.250%

Price spread now: Coinbase International against Lighter−4.921%7-day average −5.985% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs+$5as in the Price arb table

costs, in and out, $10k−$1011.010% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.783%+$78 on $10k

Price spread, last 3 days (all we have)−1.878%−$188 · spread now −4.921%, 7d avg −5.985%

Together, before fees−1.095%+ Points / potential airdropLighter: Season 3 · farm board−$109 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 1.063% dearer against Lighter than usual: you sell high and buy low (spread −4.921% now, against its 7-day average of −5.985%): +$106 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 34 days. Mind the row above: over the last 7 days funding on this pair paid +0.783%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,707.3	0	get 0.0000% / 1h	48m 34s	$1.4M	$268K	5x
Short	Coinbase International OPENAI-PERP-INTX	1,623.3	−0.0104	pay 0.0013% / 1h	48m 34s	$224K	$158K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −4.921%Rate

Funding earned: −$21.84
Price spread: −4.921% → −5.985%: $106.34
Slippage, 4 orders: −$91.03
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$16.53
Costs to cover: 1.010%
Break-even: from the start

Slippage from Lighter: live order book, 8 min ago; Coinbase International: live order book, 14 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, 8 min ago	1.78 bp	27.7 bp −$28	600.7 bp −$6,007	doesn't fit	doesn't fit
Sell Coinbase International live order book, 14 min ago	5.85 bp	13.0 bp −$13	42.0 bp −$420	doesn't fit	doesn't fit

OPENAI on 21 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-INTXshort	−0.0104%	1h	1,623.3	−4.921%	$224K	$158K	5x
Lighter OPENAIlong	0.0000%	1h	1,707.3	long leg	$1.4M	$268K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,664.3	−2.519%	$763K	$203K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.9	−3.302%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,618.5	−5.198%	$52.4M	$28.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623	−4.938%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.4	−4.913%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.8	−5.010%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.9	−4.886%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.7	−5.015%	$1.6M	$544K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX OPENAI-USD	0.0000%	1h	1,621.5	−5.026%	$1.2M	$443K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,674.8	−1.901%	$2.7M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,621.2	−5.041%	$131K	$720K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,626.5	−4.730%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,621.6	−5.016%	$22.9M	$17.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,621.8	−5.004%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,622.1	−4.988%	$374K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.7	−4.955%	$2.6M	$752K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.3	−4.977%	$2K	$137K	10x	as long as short
Entropy io:OAI	+0.0098%	1h	1,667.4	−2.336%	$7.4M	$2.1M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,621.7	−5.013%	—	—	10x	as long as short