Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.067%

Price spread now: Entropy against OKX+0.999%7-day average +3.351% · you sell dearer than you buy

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

Long on OKX Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.606%+$61 on $10k

Price spread, last 7 days+3.422%+$342 · spread now +0.999%, 7d avg +3.351%

Together, before fees+4.027%+$403 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 2.352% cheaper against OKX than usual: you would sell low and buy high (spread +0.999% now, against its 7-day average of +3.351%). If the spread goes back, that is −$235 on $10k: about 3 months of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.606% in total) that is about 27 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX OPENAI-USDT-SWAP	1,650.9	0	get 0.0000% / 8h	5h 48m	$5.1M	$1.3M	20x
Short	Entropy io:OAI	1,667.4	0.0098	get 0.0012% / 1h	48m 17s	$7.4M	$2.1M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy 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 EntropybpOrdersPrice spread, now +0.999%Rate

Funding earned: $20.54
Price spread: +0.999% → +3.351%: −$235.17
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$242.63
Costs to cover: 0.280%
Break-even: 89.7 days

Slippage unknown: OKX: live order book, 4 min ago; Entropy: live order book, 9 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 OKX live order book, 4 min ago	3.33 bp	40.1 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 9 min ago	3.30 bp	22.9 bp −$23	24.1 bp −$241	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	−1.674%	$224K	$158K	5x	as long as short
Lighter OPENAI	0.0000%	1h	1,707.3	+3.415%	$1.4M	$268K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,664.2	+0.807%	$763K	$203K	25x	as long as short
OKX OPENAI-USDT-SWAPlong	0.0000%	8h	1,650.9	long leg	$5.1M	$1.3M	20x
Gate OPENAI_USDT	0.0000%	8h	1,618.2	−1.982%	$52.4M	$28.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,622.9	−1.697%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.1	−1.684%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621.3	−1.792%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.9	−1.638%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,621.7	−1.771%	$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	−1.782%	$1.2M	$443K	10x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,674.8	+1.450%	$2.7M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,621.2	−1.799%	$131K	$720K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,626.5	−1.477%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,621.6	−1.772%	$22.9M	$17.8M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,621.8	−1.765%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,622.1	−1.743%	$374K	$71K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.7	−1.709%	$2.6M	$752K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.3	−1.732%	$2K	$137K	10x	as long as short
Entropy io:OAIshort	+0.0098%	1h	1,667.4	+0.999%	$7.4M	$2.1M	6x
Aevo OPENAI-PERP	+0.0104%	1h	1,621.3	−1.795%	—	—	10x	as long as short