Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: MEXC against Lighter−5.057%7-day average −7.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$207as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$2182.176% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−2.189%−$219 · spread now −5.057%, 7d avg −7.032%

Together, before fees−2.086%+ Points / potential airdropLighter: Season 3 · farm board−$209 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 MEXC is 1.975% dearer against Lighter than usual: you sell high and buy low: +$197 more if the spread goes back to its 7-day average of −7.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,708.5	0	get 0.0000% / 1h	37m 09s	$1.4M	$280K	5x
Short	MEXC OPENAI_USDT	1,622.1	0.0050	get 0.0050% / 8h	6h 37m	$13.0M	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −5.057%Rate

Funding earned: $10.5
Price spread: −5.057% → −7.032%: $197.46
Slippage, 4 orders: −$217.64
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$9.68
Costs to cover: 2.176%
Break-even: 13.5 days

Slippage from Lighter: live order book, 4 min ago; MEXC: 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 Lighter live order book, 4 min ago	1.02 bp	142.6 bp −$143	940.4 bp −$9,404	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.95 bp	1.6 bp −$2	6.0 bp −$60	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	−0.0145%	1h	1,621.9	−5.066%	—	$3	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,622.4	−5.040%	$1.2M	$411K	10x	as long as short
Lighter OPENAIlong	0.0000%	1h	1,708.5	long leg	$1.4M	$280K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,666.4	−2.463%	$764K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.2	−3.410%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.3	−5.217%	$52.4M	$31.8M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.1	−4.997%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.3	−4.985%	—	$2.5M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.2	−5.052%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.6	−5.082%	$1.6M	$562K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0024%	1h	1,624.5	−4.917%	$222K	$155K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,675.9	−1.909%	$2.7M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622	−5.058%	$136K	$717K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.8	−4.721%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.4	−5.035%	$22.9M	$18.9M	20x	as long as short
MEXC OPENAI_USDTshort	+0.0050%	8h	1,622.1	−5.057%	$13.0M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,626.2	−4.817%	$377K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,623.9	−4.947%	$2.6M	$761K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624	−4.945%	$2K	$137K	10x	as long as short
BloFin OPENAI-USDT	+0.0059%	8h	1,629.3	−4.636%	$477K	$280K	20x	as long as short
Entropy io:OAI	+0.0090%	1h	1,670.4	−2.228%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,621.9	−5.064%	—	—	10x	as long as short