Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.005%

Price spread now: Binance against Lighter RH−3.189%7-day average −4.278% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs+$61as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Lighter RH Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 2 days (all we have)−1.139%−$114 · spread now −3.189%, 7d avg −4.278%

Together, before fees−1.101%+ Points / potential airdropLighter RH: Points live · farm board−$110 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Binance is 1.088% dearer against Lighter RH than usual: you sell high and buy low: +$109 more if the spread goes back to its 7-day average of −4.278%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH OPENAI	1,675.1	0.0032	pay 0.0004% / 1h	48m 11s	$2.7M	$6.1M	5x
Short	Binance OPENAIUSDT	1,621.6	0.0050	get 0.0050% / 8h	5h 48m	$22.9M	$17.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter RH. 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 Lighter RHbpFee BinancebpOrdersPrice spread, now −3.189%Rate

Funding earned: $3.78
Price spread: −3.189% → −4.278%: $108.84
Slippage, 4 orders: −$37.98
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: $64.64
Costs to cover: 0.480%
Break-even: from the start

Slippage from Lighter RH: live order book, 5 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 RH live order book, 5 min ago	2.03 bp	2.9 bp −$3	44.2 bp −$442	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.80 bp	18.4 bp −$18	20.1 bp −$201	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-INTX	−0.0104%	1h	1,623.3	−3.093%	$224K	$158K	5x	as long as short
Lighter OPENAI	0.0000%	1h	1,707.2	+1.916%	$1.4M	$268K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,664.2	−0.650%	$763K	$203K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,650.9	−1.443%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,618.3	−3.392%	$52.4M	$28.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,622.8	−3.119%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.1	−3.103%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.3	−3.209%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,621.4	−3.203%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.3	−3.213%	$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	−3.199%	$1.2M	$443K	10x	as long as short
Lighter RH OPENAIlong	+0.0032%	1h	1,675.1	long leg	$2.7M	$6.1M	5x
Extended OPENAI-USD	+0.0048%	1h	1,621.2	−3.216%	$131K	$720K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,626.6	−2.894%	$212K	$3K	20x	as long as short
Binance OPENAIUSDTshort	+0.0050%	8h	1,621.6	−3.189%	$22.9M	$17.8M	20x
MEXC OPENAI_USDT	+0.0050%	8h	1,621.3	−3.211%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,622.1	−3.161%	$374K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.7	−3.128%	$2.6M	$752K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.3	−3.150%	$2K	$137K	10x	as long as short
Entropy io:OAI	+0.0098%	1h	1,667.4	−0.458%	$7.4M	$2.1M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,621.3	−3.212%	—	—	10x	as long as short