Funding arb · Price arb /

OPENAI

RWAall OPENAI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Lighter against Binance+5.646%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs+$495as in the Price arb table

costs, in and out, $10k−$690.692% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 5.646% dearer against Binance than usual: you sell high and buy low (spread +5.646% now, against zero (this spread has no 7-day history yet)): +$565 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 13 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance OPENAIUSDT	1,615.2	0.0050	pay 0.0050% / 8h	3h 06m	$22.8M	$17.5M	20x
Short	Lighter OPENAI	1,706.4	0	get 0.0000% / 1h	6m 12s	$1.4M	$265K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +5.646%Rate

Funding earned: −$10.5
Price spread: +5.646% → 0.000%: $564.65
Slippage, 4 orders: −$59.24
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $484.91
Costs to cover: 0.692%
Break-even: from the start

Slippage from Binance: live order book, 5 min ago; Lighter: live order book, 5 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, 5 min ago	0.25 bp	9.8 bp −$10	18.6 bp −$186	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.58 bp	22.1 bp −$22	97.3 bp −$973	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	−0.0001%	1h	1,615.3	+0.007%	$1.2M	$579K	10x	as long as short
Lighter OPENAIshort	0.0000%	1h	1,706.4	+5.646%	$1.4M	$265K	5x
Bybit OPENAIUSDT	0.0000%	8h	1,658.5	+2.683%	$753K	$206K	25x	as long as short
OKX OPENAI-USDT-SWAP	0.0000%	8h	1,646.5	+1.940%	$5.1M	$1.3M	20x	as long as short
Gate OPENAI_USDT	0.0000%	8h	1,611.9	−0.199%	$52.2M	$25.4M	50x	as long as short
Bitget OPENAIUSDT	0.0000%	8h	1,617.4	+0.136%	$5.4M	$5.0M	20x	as long as short
SunX OPENAI-USDT	0.0000%	8h	1,617.2	+0.126%	—	$2.4M	10x	as long as short
Deribit OPENAI_USDC-PERPETUAL	0.0000%	1h	1,615.4	+0.014%	—	$3	5x	as long as short
HTX OPENAI-USDT	0.0000%	8h	1,615.9	+0.047%	$79K	$221K	20x	as long as short
Phemex OPENAIUSDT	0.0000%	8h	1,615.1	−0.007%	$1.6M	$533K	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	1,673.7	+3.622%	$2.6M	$6.2M	5x	as long as short
Extended OPENAI-USD	+0.0048%	1h	1,614.8	−0.024%	$142K	$737K	10x	as long as short
Aster OPENAIUSDT	+0.0050%	8h	1,618.2	+0.188%	$211K	$3K	20x	as long as short
Binance OPENAIUSDTlong	+0.0050%	8h	1,615.2	long leg	$22.8M	$17.5M	20x
MEXC OPENAI_USDT	+0.0050%	8h	1,615.3	+0.008%	$13.0M	$3.2M	50x	as long as short
KuCoin OPENAIUSDTM	+0.0050%	8h	1,620	+0.300%	$373K	$69K	20x	as long as short
Variational Omni OPENAI	+0.0050%	8h	1,615.4	+0.012%	$2.6M	$766K	—	as long as short
GRVT OPENAI_USDT_Perp	+0.0050%	8h	1,616.8	+0.102%	$2K	$161K	10x	as long as short
BloFin OPENAI-USDT	+0.0054%	8h	1,614.9	−0.016%	$473K	$286K	20x	as long as short
Coinbase International OPENAI-PERP-INTX	+0.0056%	1h	1,623.9	+0.540%	$226K	$161K	5x	as long as short
Entropy io:OAI	+0.0095%	1h	1,667.6	+3.247%	$7.6M	$2.3M	6x	as long as short
Aevo OPENAI-PERP	+0.0104%	1h	1,614.6	−0.036%	—	—	10x	as long as short