Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.50 per $10,000 · paid last 24h +0.015%
Price spread now: Binance against Phemex+0.008%52s7-day average +0.005% · you sell dearer than you buy
Net, funding: paid 7d − costs−$146as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1561.564% of the position
Funding, last 7 days+0.105%+$11 on $10k
+Price spread, last 2 days (all we have)+0.004%$0 · spread now +0.008%, 7d avg +0.005%
=The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex OPENAIUSDT | 1,625.5 | 0 | get 0.0000% / 8h | 36m 21s | $1.6M | $559K | 10x |
| Short | Binance OPENAIUSDT | 1,625.6 | 0.0050 | get 0.0050% / 8h | 36m 21s | $23.1M | $18.8M | 20x |
Phemex OPENAIUSDT
Binance OPENAIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $10.5
- Price spread: +0.008% → +0.005%
- $0.32
- Slippage, 4 orders
- −$134.43
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$145.61
- Costs to cover
- 1.564%
- Break-even
- 104.1 days
Slippage from Phemex: live order book, 2 min ago; Binance: live order book, 5 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 Phemex live order book, 2 min ago | 3.35 bp | 56.6 bp −$57 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 5 min ago | 0.03 bp | 18.1 bp −$18 | 68.0 bp −$680 | 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 | −0.0168% | 1h | 1,629 | +0.219% | $236K | $145K | 5x | as long as short |
| QFEX OPENAI-USD | −0.0010% | 1h | 1,625.9 | +0.025% | $1.2M | $387K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,705.5 | +4.925% | $1.4M | $286K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,671.4 | +2.826% | $765K | $220K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,654.8 | +1.805% | $5.1M | $1.4M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,624.5 | −0.059% | $52.6M | $39.5M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,627.8 | +0.141% | $5.5M | $5.1M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,626.9 | +0.089% | — | $2.6M | 10x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,626.9 | +0.086% | $79K | $213K | 20x | as long as short |
| Phemex OPENAIUSDTlong | 0.0000% | 8h | 1,625.5 | long leg | $1.6M | $559K | 10x |
Coinbase International OPENAI-PERP-INTX
QFEX OPENAI-USD
Lighter OPENAI
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
HTX OPENAI-USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAI | +0.0032% | 1h | 1,677.8 | +3.217% | $2.6M | $6.3M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,625.4 | −0.004% | $131K | $667K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,631.4 | +0.364% | $213K | $3K | 20x | as long as short |
| Binance OPENAIUSDTshort | +0.0050% | 8h | 1,625.6 | +0.008% | $23.1M | $18.8M | 20x | |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,626.5 | +0.062% | $13.0M | $3.1M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,628 | +0.154% | $377K | $63K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,626.8 | +0.080% | $2.6M | $752K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,623.2 | −0.139% | $2K | $141K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0052% | 8h | 1,626 | +0.036% | $472K | $275K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,626.1 | +0.037% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0262% | 1h | 1,667.9 | +2.611% | $7.4M | $2.2M | 6x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | +0.0347% | 1h | 1,627.6 | +0.132% | — | $3 | 5x | as long as short |
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
BloFin OPENAI-USDT
Aevo OPENAI-PERP
Entropy io:OAI
Deribit OPENAI_USDC-PERPETUAL