OPENAI

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.50 per $10,000 · paid last 24h +0.015%

Price spread now: KuCoin against Phemex+0.224%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,203as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,200as in the Price arb table

costs, in and out, $10k−$1,21412.138% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$11 on $10k

Price spread, last 3 days (all we have)−0.180%−$18 · spread now +0.224%, 7d avg +0.085%

Together, before fees−0.075%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.139% dearer against Phemex than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex OPENAIUSDT	1,628	0	get 0.0000% / 8h	6h 59m	$1.6M	$562K	10x
Short	KuCoin OPENAIUSDTM	1,631.6	0.0050	get 0.0050% / 8h	6h 59m	$377K	$67K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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 PhemexbpFee KuCoinbpOrdersPrice spread, now +0.224%Rate

Funding earned: $10.5
Price spread: +0.224% → +0.085%: $13.9
Slippage, 4 orders: −$1,189.84
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,189.44
Costs to cover: 12.138%
Break-even: 800.0 days

Slippage from Phemex: live order book, 3 min ago; KuCoin: 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 Phemex live order book, 3 min ago	2.70 bp	64.6 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 52 min ago	6.72 bp	505.0 bp −$505	doesn't fit	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	1,630.6	+0.165%	$226K	$150K	5x	as long as short
QFEX OPENAI-USD	0.0000%	1h	1,628.9	+0.060%	$1.2M	$422K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,714.5	+5.315%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,669.3	+2.537%	$767K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,656.5	+1.753%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,625	−0.179%	$52.6M	$31.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,628.7	+0.045%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,630	+0.125%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,630.4	+0.147%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,629.6	+0.098%	$79K	$214K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex OPENAIUSDTlong	0.0000%	8h	1,628	long leg	$1.6M	$562K	10x
Lighter RH OPENAI	+0.0032%	1h	1,681.4	+3.282%	$2.7M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,628	+0.005%	$132K	$716K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,635.7	+0.474%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,628.4	+0.030%	$23.1M	$18.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,628.4	+0.025%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTMshort	+0.0050%	8h	1,631.6	+0.224%	$377K	$67K	20x
Variational Omni OPENAI	+0.0050%	8h	1,628.8	+0.054%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.9	+0.057%	$2K	$138K	10x	as long as short
BloFin OPENAI-USDT	+0.0079%	8h	1,629.1	+0.071%	$475K	$279K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,629	+0.064%	—	—	10x	as long as short
Entropy io:OAI	+0.0144%	1h	1,673.4	+2.791%	$7.4M	$2.2M	6x	as long as short