Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX−0.056%7-day average +0.009% · you buy dearer than you sell

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

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.142%+$14 · spread now −0.056%, 7d avg +0.009%

Together, before fees+0.142%+$14 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: Phemex is 0.064% cheaper against SunX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX OPENAI-USDT	1,619	0	get 0.0000% / 8h	1h 38m	—	$2.4M	10x
Short	Phemex OPENAIUSDT	1,618.1	0	get 0.0000% / 8h	1h 38m	$1.6M	$511K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.056%Rate

Funding earned: $0
Price spread: −0.056% → +0.009%: −$6.43
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$26.43
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 8 min ago; Phemex: live order book, 5 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, 8 min ago	500.20 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	5.84 bp	60.3 bp −$60	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	1,617.9	−0.067%	$1.2M	$607K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,712.7	+5.785%	$1.4M	$264K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,659.7	+2.515%	$753K	$204K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,649.6	+1.890%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,615.5	−0.214%	$52.3M	$18.1M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,619.9	+0.054%	$5.4M	$4.6M	20x	as long as short
SunX OPENAI-USDTlong	0.0000%	8h	1,619	long leg	—	$2.4M	10x
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,618.2	−0.048%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,619.3	+0.021%	$79K	$227K	20x	as long as short
Phemex OPENAIUSDTshort	0.0000%	8h	1,618.1	−0.056%	$1.6M	$511K	10x

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	+3.768%	$2.7M	$6.0M	5x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0040%	1h	1,625	+0.373%	$226K	$162K	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,617.5	−0.092%	$144K	$716K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,621.9	+0.180%	$211K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,618.3	−0.042%	$22.8M	$16.9M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,618.7	−0.019%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620.3	+0.078%	$372K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,617.7	−0.079%	$2.6M	$757K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,617.4	−0.098%	$2K	$176K	10x	as long as short
BloFin OPENAI-USDT	+0.0064%	8h	1,618.5	−0.032%	$475K	$289K	20x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,617.6	−0.085%	—	—	10x	as long as short
Entropy io:OAI	+0.0133%	1h	1,669.6	+3.125%	$7.7M	$2.3M	6x	as long as short