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: Bybit against Binance+2.725%7-day average +2.869% · you sell dearer than you buy
Net, funding: paid 7d − costs−$138as in the Funding arb table
Net, price: spread back to 7d avg − costs−$142as in the Price arb table
costs, in and out, $10k−$1281.277% of the position
Funding, last 7 days−0.105%−$11 on $10k
+Price spread, last 4 days (all we have)−0.261%−$26 · spread now +2.725%, 7d avg +2.869%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.144% cheaper against Binance than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +2.869%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance OPENAIUSDT | 1,614.5 | 0.0050 | pay 0.0050% / 8h | 2h 50m | $22.8M | $17.4M | 20x |
| Short | Bybit OPENAIUSDT | 1,658.5 | 0 | get 0.0000% / 8h | 2h 50m | $753K | $205K | 25x |
Binance OPENAIUSDT
Bybit OPENAIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
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: +2.725% → +2.869%
- −$14.4
- Slippage, 4 orders
- −$106.73
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$152.63
- Costs to cover
- 1.277%
- Break-even
- never at this rate
Slippage from Binance: live order book, 6 min ago; Bybit: live order book, 59 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 Binance live order book, 6 min ago | 0.47 bp | 13.3 bp −$13 | 23.0 bp −$230 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 59 min ago | 8.72 bp | 73.9 bp −$74 | 1090.3 bp −$10.9K | 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 | −0.0005% | 1h | 1,615.2 | +0.040% | $1.2M | $597K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,706.5 | +5.698% | $1.4M | $260K | 5x | as long as short |
| Bybit OPENAIUSDTshort | 0.0000% | 8h | 1,658.5 | +2.725% | $753K | $205K | 25x | |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,645.8 | +1.938% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,611.5 | −0.185% | $52.2M | $19.6M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,616.4 | +0.117% | $5.4M | $5.0M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,616.5 | +0.123% | — | $2.4M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,614.9 | +0.027% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,616.1 | +0.098% | $79K | $221K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,614 | −0.035% | $1.6M | $530K | 10x | as long as short |
QFEX OPENAI-USD
Lighter OPENAI
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDT
Phemex OPENAIUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International OPENAI-PERP-INTX | +0.0016% | 1h | 1,617.9 | +0.207% | $225K | $161K | 5x | as long as short |
| Lighter RH OPENAI | +0.0032% | 1h | 1,673.8 | +3.670% | $2.6M | $6.1M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,614.1 | −0.027% | $142K | $895K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,618.2 | +0.229% | $211K | $3K | 20x | as long as short |
| Binance OPENAIUSDTlong | +0.0050% | 8h | 1,614.5 | long leg | $22.8M | $17.4M | 20x | |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,614.4 | −0.009% | $13.0M | $3.1M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,619.4 | +0.305% | $373K | $69K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,615.2 | +0.041% | $2.6M | $764K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,614.6 | +0.004% | $2K | $163K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0063% | 8h | 1,615.7 | +0.071% | $474K | $286K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,614.2 | −0.021% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0143% | 1h | 1,666.3 | +3.208% | $7.6M | $2.3M | 6x | as long as short |
Coinbase International OPENAI-PERP-INTX
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
BloFin OPENAI-USDT
Aevo OPENAI-PERP
Entropy io:OAI