Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against OKX+0.868%7-day average +0.941% · you sell dearer than you buy

Net, funding: paid 7d − costs−$221as in the Funding arb table

Net, price: spread back to 7d avg − costs−$228as in the Price arb table

costs, in and out, $10k−$2212.207% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.003%$0 · spread now +0.868%, 7d avg +0.941%

Together, before fees+0.003%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.073% cheaper against OKX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.941%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX OPENAI-USDT-SWAP	1,643	0	get 0.0000% / 8h	2h 24m	$5.1M	$1.3M	20x
Short	Bybit OPENAIUSDT	1,657.3	0	get 0.0000% / 8h	2h 24m	$752K	$205K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now +0.868%Rate

Funding earned: $0
Price spread: +0.868% → +0.941%: −$7.33
Slippage, 4 orders: −$199.68
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$228.01
Costs to cover: 2.207%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Bybit: live order book, 21 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 OKX live order book, 3 min ago	4.57 bp	37.9 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 21 min ago	15.35 bp	97.9 bp −$98	679.6 bp −$6,796	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	1,615.3	−1.688%	$1.2M	$603K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,707.3	+3.914%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDTshort	0.0000%	8h	1,657.3	+0.868%	$752K	$205K	25x
OKX OPENAI-USDT-SWAPlong	0.0000%	8h	1,643	long leg	$5.1M	$1.3M	20x
Gate OPENAI_USDT	0.0000%	8h	1,612.5	−1.855%	$52.2M	$19.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,617.5	−1.554%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,616.9	−1.589%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,615.8	−1.653%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,616.5	−1.610%	$79K	$223K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,615.6	−1.670%	$1.6M	$522K	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	+0.0016%	1h	1,620.9	−1.344%	$226K	$161K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,674.4	+1.914%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,615.2	−1.691%	$142K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,619.9	−1.403%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,615.7	−1.664%	$22.8M	$17.3M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,616	−1.642%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,617.9	−1.528%	$373K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,614.9	−1.712%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,614.7	−1.725%	$2K	$168K	10x	as long as short
BloFin OPENAI-USDT	+0.0066%	8h	1,614.6	−1.727%	$471K	$287K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,615.4	−1.678%	—	—	10x	as long as short
Entropy io:OAI	+0.0119%	1h	1,665	+1.339%	$7.6M	$2.3M	6x	as long as short