Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.014%

Price spread now: Extended against OKX−1.836%7-day average −2.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$1021.024% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 4 days (all we have)−0.118%−$12 · spread now −1.836%, 7d avg −2.027%

Together, before fees−0.018%+ Points / potential airdropExtended: Active · farm board−$2 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 Extended is 0.190% dearer against OKX than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −2.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX OPENAI-USDT-SWAP	1,652.1	0	get 0.0000% / 8h	4h 05m	$5.1M	$1.3M	20x
Short	Extended OPENAI-USD	1,621.8	0.0048	get 0.0006% / 1h	5m 49s	$141K	$740K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −1.836%Rate

Funding earned: $10.08
Price spread: −1.836% → −2.027%: $19.04
Slippage, 4 orders: −$87.41
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$73.3
Costs to cover: 1.024%
Break-even: 57.9 days

Slippage from OKX: live order book, 2 min ago; Extended: live order book, 52 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, 2 min ago	0.91 bp	13.6 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 52 min ago	4.94 bp	32.1 bp −$32	252.9 bp −$2,529	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	−1.645%	$226K	$161K	5x	as long as short
QFEX OPENAI-USD	−0.0004%	1h	1,622.1	−1.818%	$1.2M	$549K	10x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,663.6	+0.697%	$755K	$207K	25x	as long as short
OKX OPENAI-USDT-SWAPlong	0.0000%	8h	1,652.1	long leg	$5.1M	$1.3M	20x
Gate OPENAI_USDT	0.0000%	8h	1,619.2	−1.994%	$52.4M	$28.2M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,623.7	−1.721%	$5.5M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,623.6	−1.725%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,621	−1.881%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623	−1.760%	$79K	$220K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.4	−1.797%	$1.6M	$545K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OPENAI	+0.0008%	1h	1,713	+3.683%	$1.4M	$266K	5x	as long as short
BloFin OPENAI-USDT	+0.0030%	8h	1,622.7	−1.780%	$475K	$286K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,680.5	+1.720%	$2.7M	$6.2M	5x	as long as short
Extended OPENAI-USDshort	+0.0048%	1h	1,621.8	−1.836%	$141K	$740K	10x
Aster OPENAIUSDT	+0.0050%	8h	1,627.7	−1.475%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.3	−1.805%	$22.9M	$17.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.7	−1.783%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,625.3	−1.620%	$375K	$70K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622.3	−1.806%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.2	−1.807%	$2K	$151K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.1	−1.819%	—	—	10x	as long as short
Entropy io:OAI	+0.0226%	1h	1,674.8	+1.374%	$7.7M	$2.3M	6x	as long as short