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: OKX against Binance+1.648%7-day average +1.994% · you sell dearer than you buy
Net, funding: paid 7d − costs−$126as in the Funding arb table
Net, price: spread back to 7d avg − costs−$150as in the Price arb table
costs, in and out, $10k−$1161.158% of the position
Funding, last 7 days−0.105%−$11 on $10k
+Price spread, last 7 days+0.314%+$31 · spread now +1.648%, 7d avg +1.994%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.346% cheaper against Binance than usual: you would sell low and buy high (−$35 if the spread goes back to its 7-day average of +1.994%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance OPENAIUSDT | 1,618.4 | 0.0050 | pay 0.0050% / 8h | 2m 18s | $22.9M | $16.7M | 20x |
| Short | OKX OPENAI-USDT-SWAP | 1,645.1 | 0 | get 0.0000% / 8h | 2m 18s | $5.1M | $1.3M | 20x |
Binance OPENAIUSDT
OKX OPENAI-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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: +1.648% → +1.994%
- −$34.61
- Slippage, 4 orders
- −$95.79
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$160.91
- Costs to cover
- 1.158%
- Break-even
- never at this rate
Slippage from Binance: live order book, 9 min ago; OKX: 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, 9 min ago | 0.03 bp | 16.2 bp −$16 | 51.2 bp −$512 | doesn't fit | doesn't fit |
| Sell OKX live order book, 5 min ago | 1.82 bp | 49.1 bp −$49 | 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 | −0.0005% | 1h | 1,618.5 | +0.004% | $1.2M | $629K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,707.2 | +5.486% | $1.4M | $269K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,657.7 | +2.424% | $736K | $269K | 25x | as long as short |
| OKX OPENAI-USDT-SWAPshort | 0.0000% | 8h | 1,645.1 | +1.648% | $5.1M | $1.3M | 20x | |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,617.5 | −0.057% | $45.6M | $14.1M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,619.5 | +0.063% | $5.3M | $4.5M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,619.8 | +0.084% | — | $2.4M | 10x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,619.1 | +0.041% | $79K | $225K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,618.2 | −0.017% | $1.6M | $500K | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | +0.0014% | 1h | 1,619 | +0.034% | — | $3 | 5x | as long as short |
QFEX OPENAI-USD
Lighter OPENAI
Bybit OPENAIUSDT
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
HTX OPENAI-USDT
Phemex OPENAIUSDT
Deribit OPENAI_USDC-PERPETUALShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAI | +0.0032% | 1h | 1,674.4 | +3.460% | $2.7M | $6.3M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,618.1 | −0.022% | $142K | $803K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,620.9 | +0.155% | $211K | $3K | 20x | as long as short |
| Binance OPENAIUSDTlong | +0.0050% | 8h | 1,618.4 | long leg | $22.9M | $16.7M | 20x | |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,617.6 | −0.053% | $6.6M | $5.0M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,618.3 | −0.011% | $373K | $76K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,617.3 | −0.069% | $2.6M | $760K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,616.6 | −0.114% | $2K | $176K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0057% | 8h | 1,618 | −0.030% | $475K | $295K | 20x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.0072% | 1h | 1,623.7 | +0.328% | $235K | $174K | 5x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,618.4 | −0.004% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0124% | 1h | 1,665.1 | +2.883% | $7.6M | $2.3M | 6x | as long as short |
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
BloFin OPENAI-USDT
Coinbase International OPENAI-PERP-INTX
Aevo OPENAI-PERP
Entropy io:OAI