Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h −0.001%

Price spread now: QFEX against OKX−1.709%7-day average −2.054% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$1041.040% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days−0.416%−$42 · spread now −1.709%, 7d avg −2.054%

Together, before fees−0.420%−$42 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: QFEX is 0.345% dearer against OKX than usual: you sell high and buy low, +$34 on $10k if it goes back to its 7-day average of −2.054%.

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	6h 33m	$5.1M	$1.3M	20x
Short	QFEX OPENAI-USD	1,622.7	−0.0004	pay 0.0001% / 1h	33m 49s	$1.2M	$413K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −1.709%Rate

Funding earned: −$0.87
Price spread: −1.709% → −2.054%: $34.46
Slippage, 4 orders: −$83.99
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$70.4
Costs to cover: 1.040%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; QFEX: live order book, 2 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, 4 min ago	0.61 bp	46.1 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	3.54 bp	9.9 bp −$10	21.6 bp −$216	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
QFEX OPENAI-USDshort	−0.0004%	1h	1,622.7	−1.709%	$1.2M	$413K	10x
Lighter OPENAI	0.0000%	1h	1,708.5	+3.486%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.3	+0.930%	$764K	$204K	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	1,620.2	−1.862%	$52.4M	$31.8M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,624.7	−1.590%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624	−1.629%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,622.6	−1.717%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,622.2	−1.741%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.7	−1.708%	$1.6M	$562K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0024%	1h	1,624.5	−1.602%	$222K	$155K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,676	+1.521%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622.4	−1.725%	$136K	$717K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,627.7	−1.403%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.9	−1.698%	$22.9M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,623	−1.688%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,626.2	−1.499%	$377K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,622	−1.748%	$2.6M	$759K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,624	−1.631%	$2K	$137K	10x	as long as short
Entropy io:OAI	+0.0071%	1h	1,668.7	+1.078%	$7.4M	$2.2M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,622.3	−1.730%	—	—	10x	as long as short