OPENAI

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.5% APRnext payment +$0.01 per $10,000 · paid last 24h +0.002%

Price spread now: Lighter against QFEX+5.310%7-day average +7.062% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$391as in the Price arb table

costs, in and out, $10k−$2162.163% of the position

Long on QFEX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%+$1 on $10k

Price spread, last 7 days+1.942%+$194 · spread now +5.310%, 7d avg +7.062%

Together, before fees+1.947%+ Points / potential airdropLighter: Season 3 · farm board+$195 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: Lighter is 1.752% cheaper against QFEX than usual: you would sell low and buy high, −$175 on $10k if it goes back to its 7-day average of +7.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX OPENAI-USD	1,627.3	−0.0004	get 0.0001% / 1h	57m 21s	$1.2M	$422K	10x
Short	Lighter OPENAI	1,713.7	0	get 0.0000% / 1h	57m 21s	$1.4M	$280K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +5.310%Rate

Funding earned: $0.87
Price spread: +5.310% → +7.062%: −$175.19
Slippage, 4 orders: −$206.26
Fee QFEX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$390.57
Costs to cover: 2.163%
Break-even: 3136.6 days

Slippage from QFEX: live order book, 8 min ago; Lighter: live order book, 4 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, 8 min ago	1.60 bp	8.8 bp −$9	10.3 bp −$103	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.55 bp	74.5 bp −$74	134.3 bp −$1,343	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	−0.0004%	1h	1,627.3	long leg	$1.2M	$422K	10x
Lighter OPENAIshort	0.0000%	1h	1,713.7	+5.310%	$1.4M	$280K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,669.4	+2.584%	$767K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,657.3	+1.844%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,624.3	−0.184%	$52.6M	$31.7M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,628.8	+0.089%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,628.3	+0.061%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,628.5	+0.071%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,628.1	+0.047%	$79K	$215K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,626.7	−0.038%	$1.6M	$561K	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	+0.0024%	1h	1,627.9	+0.038%	$223K	$153K	5x	as long as short
BloFin OPENAI-USDT	+0.0030%	8h	1,628.6	+0.081%	$475K	$279K	20x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,680.8	+3.290%	$2.7M	$6.1M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,627	−0.019%	$132K	$716K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,635.1	+0.479%	$213K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,627.4	+0.006%	$23.1M	$19.0M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,627.5	+0.012%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,631.6	+0.264%	$377K	$67K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,628.8	+0.095%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,628.8	+0.095%	$2K	$138K	10x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,627.2	−0.009%	—	—	10x	as long as short
Entropy io:OAI	+0.0193%	1h	1,673.6	+2.845%	$7.4M	$2.2M	6x	as long as short