Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.063%

Price spread now: Entropy against SunX+3.131%7-day average +4.346% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.595%+$59 on $10k

Price spread, last 4 days (all we have)+2.422%+$242 · spread now +3.131%, 7d avg +4.346%

Together, before fees+3.017%+$302 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 1.215% cheaper against SunX than usual: you would sell low and buy high (spread +3.131% now, against its 7-day average of +4.346%). If the spread goes back, that is −$122 on $10k: about 28 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX OPENAI-USDT	1,619.5	0	get 0.0000% / 8h	1h 26m	—	$2.4M	10x
Short	Entropy io:OAI	1,670.2	0.0146	get 0.0018% / 1h	26m 14s	$7.7M	$2.3M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against SunX. 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 SunXbpFee EntropybpOrdersPrice spread, now +3.131%Rate

Funding earned: $30.6
Price spread: +3.131% → +4.346%: −$121.53
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$116.93
Costs to cover: 0.260%
Break-even: 33.7 days

Slippage unknown: SunX: live order book, 11 min ago; Entropy: live order book, 1 min ago. Net counts fees only.

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 SunX live order book, 11 min ago	500.28 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 1 min ago	3.89 bp	doesn't fit	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
QFEX OPENAI-USD	−0.0002%	1h	1,617.6	−0.117%	$1.2M	$609K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.8	+5.764%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,659	+2.440%	$753K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,648.8	+1.809%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,614.5	−0.308%	$52.3M	$18.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,619.1	−0.027%	$5.4M	$4.6M	20x	as long as short
SunX OPENAI-USDTlong	0.0000%	8h	1,619.5	long leg	—	$2.4M	10x
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,618.2	−0.083%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,618.3	−0.074%	$79K	$228K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,617.1	−0.148%	$1.6M	$508K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH OPENAI	+0.0032%	1h	1,680	+3.734%	$2.7M	$6.1M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	+0.342%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,617.4	−0.128%	$144K	$581K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,621.7	+0.134%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,617.8	−0.108%	$22.8M	$16.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,617.7	−0.110%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.5	+0.059%	$372K	$68K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,618.8	−0.043%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,617.9	−0.099%	$2K	$176K	10x	as long as short
BloFin OPENAI-USDT	+0.0066%	8h	1,618.1	−0.087%	$473K	$289K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,617.7	−0.114%	—	—	10x	as long as short
Entropy io:OAIshort	+0.0146%	1h	1,670.2	+3.131%	$7.7M	$2.3M	6x