Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h +0.001%

Price spread now: Gate against QFEX−0.157%7-day average −0.126% · 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−$60as in the Price arb table

costs, in and out, $10k−$570.573% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 7 days−0.015%−$1 · spread now −0.157%, 7d avg −0.126%

Together, before fees−0.010%−$1 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: Gate is 0.031% cheaper against QFEX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX OPENAI-USD	1,614.6	−0.0005	get 0.0001% / 1h	25m 45s	$1.2M	$604K	10x
Short	Gate OPENAI_USDT	1,612	0	get 0.0000% / 8h	2h 25m	$52.2M	$19.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against QFEX. 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 QFEXbpFee GatebpOrdersPrice spread, now −0.157%Rate

Funding earned: $1.01
Price spread: −0.157% → −0.126%: −$3.14
Slippage, 4 orders: −$32.27
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$59.4
Costs to cover: 0.573%
Break-even: 419.5 days

Slippage from QFEX: live order book, 10 min ago; Gate: live order book, 3 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 QFEX live order book, 10 min ago	2.17 bp	9.0 bp −$9	14.3 bp −$143	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	3.14 bp	12.6 bp −$13	612.6 bp −$6,126	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
QFEX OPENAI-USDlong	−0.0005%	1h	1,614.6	long leg	$1.2M	$604K	10x
Lighter OPENAI	0.0000%	1h	1,707.2	+5.737%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,657.5	+2.661%	$753K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,641.9	+1.692%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDTshort	0.0000%	8h	1,612	−0.157%	$52.2M	$19.7M	50x
Bitget OPENAIUSDT	0.0000%	8h	1,617	+0.147%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,617	+0.150%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,614.9	+0.018%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,614.9	+0.020%	$79K	$222K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,615.2	+0.041%	$1.6M	$522K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0016%	1h	1,620.9	+0.393%	$226K	$161K	5x	as long as short
BloFin OPENAI-USDT	+0.0025%	8h	1,615.5	+0.057%	$472K	$287K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,674.3	+3.698%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,614.4	−0.010%	$142K	$895K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,619.3	+0.291%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,615.1	+0.034%	$22.8M	$17.3M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,615.2	+0.041%	$13.0M	$3.1M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,618	+0.213%	$373K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,614.9	+0.018%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,614.7	+0.005%	$2K	$168K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,614.9	+0.019%	—	—	10x	as long as short
Entropy io:OAI	+0.0118%	1h	1,665	+3.123%	$7.6M	$2.3M	6x	as long as short