Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.014%

Price spread now: Variational Omni against Lighter−5.214%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 5.214% cheaper against Lighter than usual: you would sell low and buy high (spread −5.214% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$521 on $10k: about 14 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter OPENAI	1,713.3	0.0008	pay 0.0001% / 1h	36m 33s	$1.4M	$266K	5x
Short	Variational Omni OPENAI	1,624	0.0050	get 0.0050% / 8h	4h 36m	$2.6M	$766K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −5.214%Rate

Funding earned: $8.82
Price spread: −5.214% → 0.000%: −$521.36
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$512.54
Costs to cover: 0.000%
Break-even: 413.8 days

Slippage unknown: Lighter: live order book, 5 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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, 5 min ago	0.03 bp	39.7 bp −$40	445.0 bp −$4,450	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	1.85 bp	doesn't fit	93.8 bp −$938	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	−5.112%	$226K	$160K	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,625.6	−5.122%	$1.2M	$537K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,663.9	−2.884%	$757K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652.2	−3.568%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,621.6	−5.356%	$52.5M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,626	−5.099%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,626.2	−5.085%	—	$2.4M	10x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,624.1	−5.209%	$79K	$219K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,625.2	−5.144%	$1.6M	$546K	10x	as long as short
Lighter OPENAIlong	+0.0008%	1h	1,713.3	long leg	$1.4M	$266K	5x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAI	+0.0032%	1h	1,681	−1.889%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,625.2	−5.146%	$144K	$736K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,631.5	−4.775%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,625.6	−5.121%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,625.5	−5.126%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.4	−5.193%	$376K	$70K	20x	as long as short
Variational Omni OPENAIshort	+0.0050%	8h	1,624	−5.214%	$2.6M	$766K	—
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.8	−5.285%	$2K	$147K	10x	as long as short
BloFin OPENAI-USDT	+0.0080%	8h	1,625.8	−5.109%	$474K	$283K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,624.9	−5.164%	—	—	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0219%	1h	1,625.9	−5.104%	—	$3	5x	as long as short
Entropy io:OAI	+0.0244%	1h	1,671.7	−2.430%	$7.6M	$2.3M	6x	as long as short