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: Lighter against MEXC+5.614%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs+$519as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on MEXC Short on Lighter

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—no price history on both exchanges yet

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

The price spread pays, funding is against you. Lighter is 5.614% dearer against MEXC than usual: you sell high and buy low (spread +5.614% now, against zero (this spread has no 7-day history yet)): +$561 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OPENAI_USDT	1,622.5	0.0050	pay 0.0050% / 8h	4h 10m	$13.0M	$3.2M	50x
Short	Lighter OPENAI	1,713.6	0.0008	get 0.0001% / 1h	10m 22s	$1.4M	$266K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +5.614%Rate

Funding earned: −$8.82
Price spread: +5.614% → 0.000%: $561.41
Slippage, 4 orders: −$42.42
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $510.17
Costs to cover: 0.424%
Break-even: from the start

Slippage from MEXC: live order book, 3 min ago; Lighter: live order book, 6 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 MEXC live order book, 3 min ago	0.03 bp	0.6 bp −$1	6.8 bp −$68	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	1.63 bp	24.6 bp −$25	94.1 bp −$941	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	1,624.9	+0.148%	$226K	$161K	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,622.5	−0.005%	$1.2M	$549K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,663.8	+2.546%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,652	+1.816%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.2	−0.208%	$52.4M	$28.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.7	+0.075%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.8	+0.078%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.9	−0.038%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.4	+0.052%	$78K	$219K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.7	+0.010%	$1.6M	$546K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OPENAIshort	+0.0008%	1h	1,713.6	+5.614%	$1.4M	$266K	5x
Lighter RH OPENAI	+0.0032%	1h	1,681	+3.601%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622	−0.032%	$141K	$740K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.6	+0.312%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.4	−0.009%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDTlong	+0.0050%	8h	1,622.5	long leg	$13.0M	$3.2M	50x
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	+0.173%	$375K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.4	−0.009%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,623.1	+0.038%	$2K	$150K	10x	as long as short
BloFin OPENAI-USDT	+0.0076%	8h	1,622.6	+0.006%	$474K	$286K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.2	−0.018%	—	—	10x	as long as short
Entropy io:OAI	+0.0235%	1h	1,675.2	+3.246%	$7.7M	$2.3M	6x	as long as short