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Funding arb · Price arb /

OPENAI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.50 per $10,000 · paid last 24h −0.015%
Price spread now: Phemex against Variational Omni−0.069%7-day average +0.026% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.050%−$5 on $10k
Price spread, last 4 days (all we have)+0.135%+$13 · spread now −0.069%, 7d avg +0.026%
Together, before fees+0.085%+ Points / potential airdropVariational Omni: Active · farm board+$8 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.095% cheaper against Variational Omni than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.026%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni OPENAI1,622.50.0050pay 0.0050% / 8h5h 01m$2.6M$760K—
ShortPhemex OPENAIUSDT1,621.40get 0.0000% / 8h5h 01m$1.6M$544K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against Variational Omni. 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

Funding earned
−$10.5
Price spread: −0.069% → +0.026%
−$9.47
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$31.97
Costs to cover
0.120%
Break-even
never at this rate
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Phemex: 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
LegHalf-spread$10k$100k$1M$5M
Buy Variational Omni RFQ quote, 2 min ago3.64 bpdoesn't fit82.2 bp −$822doesn't fitdoesn't fit
Sell Phemex live order book, 1 min ago2.04 bp56.7 bp −$57doesn't fitdoesn't fitdoesn't fit

OPENAI on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International OPENAI-PERP-INTX−0.0104%1h1,627+0.276%$225K$158K5xas long as short
Lighter OPENAI0.0000%1h1,707.2+5.219%$1.4M$269K5xas long as short
Bybit OPENAIUSDT0.0000%8h1,662.1+2.441%$758K$207K25xas long as short
OKX OPENAI-USDT-SWAP0.0000%8h1,649.5+1.664%$5.1M$1.3M20xas long as short
Gate OPENAI_USDT0.0000%8h1,618.1−0.270%$52.3M$28.8M50xas long as short
Bitget OPENAIUSDT0.0000%8h1,623+0.032%$5.5M$5.1M20xas long as short
SunX OPENAI-USDT0.0000%8h1,622.50.000%—$2.4M10xas long as short
Deribit OPENAI_USDC-PERPETUAL0.0000%1h1,621.2−0.081%—$35xas long as short
HTX OPENAI-USDT0.0000%8h1,622.3−0.012%$79K$217K20xas long as short
Phemex OPENAIUSDTshort0.0000%8h1,621.4−0.069%$1.6M$544K10x
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX OPENAI-USD0.0000%1h1,621.1−0.087%$1.2M$491K10xas long as short
Lighter RH OPENAI+0.0032%1h1,674.3+3.191%$2.7M$6.2M5xas long as short
Extended OPENAI-USD+0.0048%1h1,621−0.094%$141K$737K10xas long as short
Aster OPENAIUSDT+0.0050%8h1,626.7+0.261%$212K$3K20xas long as short
Binance OPENAIUSDT+0.0050%8h1,621.4−0.067%$22.9M$17.8M20xas long as short
MEXC OPENAI_USDT+0.0050%8h1,621.6−0.057%$13.0M$3.2M50xas long as short
KuCoin OPENAIUSDTM+0.0050%8h1,624.6+0.128%$374K$69K20xas long as short
Variational Omni OPENAIlong+0.0050%8h1,622.5long leg$2.6M$760K—
GRVT OPENAI_USDT_Perp+0.0050%8h1,623.6+0.066%$2K$144K10xas long as short
BloFin OPENAI-USDT+0.0061%8h1,621.9−0.036%$475K$277K20xas long as short
Aevo OPENAI-PERP+0.0104%1h1,621.2−0.083%——10xas long as short
Entropy io:OAI+0.0151%1h1,667.1+2.749%$7.4M$2.1M6xas long as short