Funding you earn now, next payment 16:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.50 per $10,000 · paid last 24h +0.015%
Price spread now: MEXC against Phemex+0.064%50s7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$169as 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−$1791.795% of the position
Funding, last 7 days+0.105%+$11 on $10k
+Price spread, last 4 days (all we have)−0.120%−$12 · spread now +0.064%, 7d avg +0.010%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 0.054% dearer against Phemex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.010%. The two prices were read 50 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 | 1,631.2 | 0 | get 0.0000% / 8h | 5h 59m | $1.6M | $502K | 10x |
| Short | MEXC OPENAI_USDT | 1,632.2 | 0.0050 | get 0.0050% / 8h | 5h 59m | $6.7M | $2.4M | 50x |
Phemex OPENAIUSDT
MEXC OPENAI_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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: +0.064% → +0.010%
- $5.35
- Slippage, 4 orders
- −$167.49
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$163.64
- Costs to cover
- 1.795%
- Break-even
- 116.1 days
Slippage from Phemex: live order book, 2 min ago; MEXC: live order book, 1 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 | 1.87 bp | 58.0 bp −$58 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 1 min ago | 11.02 bp | 33.1 bp −$33 | 58.6 bp −$586 | doesn't fit | doesn't fit |
OPENAI on 22 exchanges
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-USD | −0.0003% | 1h | 1,630.8 | −0.021% | $1.2M | $655K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,712.6 | +4.990% | $1.4M | $282K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,667.8 | +2.249% | $732K | $282K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,660.1 | +1.774% | $5.1M | $1.2M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,629.2 | −0.119% | $48.8M | $14.6M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,632.7 | +0.091% | $5.4M | $3.6M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,631.8 | +0.039% | — | $1.7M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,630.9 | −0.013% | $3K | $3K | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,632.1 | +0.055% | $80K | $198K | 20x | as long as short |
| Phemex OPENAIUSDTlong | 0.0000% | 8h | 1,631.2 | long leg | $1.6M | $502K | 10x |
QFEX OPENAI-USD
Lighter OPENAI
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDTShow all 22 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAI | +0.0032% | 1h | 1,679.5 | +2.962% | $2.8M | $6.2M | 5x | as long as short |
| BloFin OPENAI-USDT | +0.0044% | 8h | 1,629.6 | −0.097% | $481K | $317K | 20x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,630.3 | −0.054% | $142K | $814K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,633.2 | +0.123% | $213K | $3K | 20x | as long as short |
| Binance OPENAIUSDT | +0.0050% | 8h | 1,630.8 | −0.019% | $23.0M | $17.1M | 20x | as long as short |
| MEXC OPENAI_USDTshort | +0.0050% | 8h | 1,632.2 | +0.064% | $6.7M | $2.4M | 50x | |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,635 | +0.233% | $379K | $214K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,629.6 | −0.097% | $2.6M | $770K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,631.2 | +0.004% | $2K | $170K | 10x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,630.5 | −0.039% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0124% | 1h | 1,671.6 | +2.479% | $7.6M | $2.4M | 6x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.0720% | 1h | 1,635.2 | +0.248% | $230K | $176K | 5x | as long as short |
Lighter RH OPENAI
BloFin OPENAI-USDT
Extended OPENAI-USD
Aster OPENAIUSDT
Binance OPENAIUSDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
Aevo OPENAI-PERP
Entropy io:OAI
Coinbase International OPENAI-PERP-INTX