Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: SunX against Lighter RH−3.484%7-day average −4.641% · you buy dearer than you sell

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

Long on Lighter RH Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)−2.441%−$244 · spread now −3.484%, 7d avg −4.641%

Together, before fees−2.509%+ Points / potential airdropLighter RH: Points live · farm board−$251 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 1.157% dearer against Lighter RH than usual: you sell high and buy low (spread −3.484% now, against its 7-day average of −4.641%): +$116 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH OPENAI	1,677.8	0.0032	pay 0.0004% / 1h	9m 13s	$2.7M	$6.2M	5x
Short	SunX OPENAI-USDT	1,619.3	0	get 0.0000% / 8h	2h 09m	—	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −3.484%Rate

Funding earned: −$6.72
Price spread: −3.484% → −4.641%: $115.72
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: $101
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Lighter RH: live order book, 4 min ago; SunX: live order book, 7 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 RH live order book, 4 min ago	2.18 bp	9.1 bp −$9	50.4 bp −$504	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	500.42 bp	doesn't fit	doesn't fit	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
QFEX OPENAI-USD	−0.0005%	1h	1,619.1	−3.495%	$1.2M	$607K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,710.7	+1.965%	$1.4M	$265K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,660.1	−1.055%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,647.1	−1.827%	$5.1M	$1.4M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,615.8	−3.690%	$52.3M	$19.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,620.3	−3.425%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDTshort	0.0000%	8h	1,619.3	−3.484%	—	$2.4M	10x
HTX OPENAI-USDT	0.0000%	8h	1,620.2	−3.430%	$79K	$226K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,618.7	−3.523%	$1.6M	$522K	10x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0016%	1h	1,618.6	−3.526%	$226K	$161K	5x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAIlong	+0.0032%	1h	1,677.8	long leg	$2.7M	$6.2M	5x
Extended OPENAI-USD	+0.0048%	1h	1,618.9	−3.509%	$141K	$896K	10x	as long as short
BloFin OPENAI-USDT	+0.0049%	8h	1,620	−3.445%	$470K	$291K	20x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,623.4	−3.240%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,619.5	−3.475%	$22.9M	$17.5M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,619.4	−3.478%	$13.1M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,619.2	−3.490%	$372K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,616.6	−3.644%	$2.6M	$760K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,616.6	−3.642%	$2K	$170K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,619	−3.501%	—	—	10x	as long as short
Entropy io:OAI	+0.0150%	1h	1,667.4	−0.617%	$7.7M	$2.3M	6x	as long as short
Deribit OPENAI_USDC-PERPETUAL	+0.0236%	1h	1,619.7	−3.458%	—	$3	5x	as long as short