Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.055%

Price spread now: Entropy against Variational Omni+2.793%7-day average +5.328% · you sell dearer than you buy

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

Long on Variational Omni Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.199%+$20 on $10k

Price spread, last 7 days+3.668%+$367 · spread now +2.793%, 7d avg +5.328%

Together, before fees+3.866%+ Points / potential airdropVariational Omni: Active · farm board+$387 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 2.535% cheaper against Variational Omni than usual: you would sell low and buy high (spread +2.793% now, against its 7-day average of +5.328%). If the spread goes back, that is −$253 on $10k: about 6 months of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.199% in total) that is about 43 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni OPENAI	1,622.7	0.0050	pay 0.0050% / 8h	6h 16m	$2.6M	$759K	—
Short	Entropy io:OAI	1,668	0.0096	get 0.0012% / 1h	16m 01s	$7.4M	$2.2M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee EntropybpOrdersPrice spread, now +2.793%Rate

Funding earned: $9.66
Price spread: +2.793% → +5.328%: −$253.47
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$261.82
Costs to cover: 0.180%
Break-even: 196.8 days

Slippage unknown: Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago	2.53 bp	doesn't fit	90.6 bp −$906	doesn't fit	doesn't fit
Sell Entropy live order book, 1 min ago	0.30 bp	24.5 bp −$24	26.5 bp −$265	doesn't fit	doesn't fit

OPENAI on 21 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	−0.0004%	1h	1,622.8	+0.009%	$1.2M	$425K	10x	as long as short
Lighter OPENAI	0.0000%	1h	1,705.5	+5.105%	$1.4M	$280K	5x	as long as short
Bybit OPENAIUSDT	0.0000%	8h	1,666.4	+2.692%	$764K	$205K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,654.5	+1.961%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,619.5	−0.196%	$52.4M	$31.9M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,624.4	+0.108%	$5.5M	$5.1M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,624.4	+0.106%	—	$2.5M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,623	+0.023%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,623.2	+0.031%	$79K	$216K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,622.2	−0.027%	$1.6M	$556K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International OPENAI-PERP-INTX	+0.0024%	1h	1,624	+0.082%	$222K	$157K	5x	as long as short
Lighter RH OPENAI	+0.0032%	1h	1,675	+3.223%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,622.3	−0.020%	$131K	$722K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,628.8	+0.376%	$212K	$3K	20x	as long as short
Binance OPENAIUSDT	+0.0050%	8h	1,622.7	+0.002%	$22.9M	$18.6M	20x	as long as short
MEXC OPENAI_USDT	+0.0050%	8h	1,622.9	+0.016%	$13.1M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,624.3	+0.098%	$375K	$67K	20x	as long as short
Variational Omni OPENAIlong	+0.0050%	8h	1,622.7	long leg	$2.6M	$759K	—
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,622.4	−0.015%	$2K	$139K	10x	as long as short
Entropy io:OAIshort	+0.0096%	1h	1,668	+2.793%	$7.4M	$2.2M	6x
Aevo OPENAI-PERP	+0.0104%	1h	1,622.5	−0.010%	—	—	10x	as long as short